After Instacart published its IPO prospectus on Monday, a disclosure regarding the company's use of Snowflake technology created an unexpected controversy.
While Databricks is picking up business from the grocery-delivery company, the footnote in Instacart's S-1 spelling out the relationship with Snowflake shows that the spending decline in 2023 is not the most relevant figure.
To add to the confusion, the footnote under "Related Party Transactions" didn't name Slootman or Snowflake, referring only to a "an executive officer of a software vendor." Snowflake went on to say that it was working with Instacart to "optimize for efficiency," a phrase that implies doing more with less, and that its technology is "used extensively by nearly every team within Instacart, including the catalog team, machine learning, ads, shoppers, retailers, customers, and logistics organizations."
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