BlackRock’s Aladdin Sees Promise in Snowflake’s Data Cloud
Posted on 02/23/2021
BlackRock Inc. is the world’s largest asset management firm. Snowflake Inc. (ticker: SNOW) wants to sell its cloud services to the investment management industry. Snowflake inked a partnership to combine BlackRock’s Aladdin investment technology with Snowflake’s Data Cloud. Under the partnership, Blackrock will introduce Aladdin Data Cloud, an investment platform that will be powered by Snowflake. The partnership will bring Aladdin and non-Aladdin data together and enable developers to utilize it through Aladdin Studio. BlackRock gets to be a founding partner for Snowflake’s “Powered by Snowflake” program. Each Aladdin Data Cloud customer will receive an independent centrally-managed data store preloaded with Aladdin data sets that can be supplemented by proprietary and third-party data sources.