We're driving change. They also appreciate it. Amp It Up, Frank, you write a lot about building culture and I think you had some issues at Snowflake when you got there. CEO of year's hottest IPO focuses on one 'incredibly hard' question - CNBC I always tell my own people, "Look, I'm a piece on the chessboard, okay? And that's the American flavor and flare that has built up over three, almost four decades. Did you always have your eyes set on a career in the US? Right? The founder brings you in to scale up the company, but finds it difficult to step aside. Your mission is you're pursuing an end state or at least the closest thing to what you can envision, to what you want to realize as a couple. And that is a common thread through all our companies. I mean, 16 months after you and Mike came to Snowflake, you raised $3.4 billion as part of its IPO, instantly establishing Snowflake as one of the NYC's marquee companies. When I'm on offense out there, I don't worry about what's going on at home at the farm because that is in a very, very tight control mode. Frank Slootman currently serves as Chairman and CEO at Snowflake. I always become the CEO that the situation mandates and dictates. Some portions of the proceeding conversation may have been edited for the purpose of length or clarity. Frank Slootman added: " I'm excited to advise Blackstone. But we didn't have the market capital resources to do that. Different technologies, different markets, different competitors, different eras, different cultural times that we live in, you need to become, what that situation requires off you. Because they can't understand how spending categories can just explode overnight like that. Instacart Appoints Frank Slootman, Chairman And CEO Of - Insider Collaboration between companies also offers significant opportunities to create value, and Frank Slootman - Chairman and CEO of data cloud pioneer Snowflake - believes it has never been more important for organizations to be able to mobilize their data and share it with ecosystem partners. Today, Slootmans net worth shot up to $1.8 billion because of the Snowflake IPO. And it's just, it's intoxicating that energy. I look at the situation, "What does this require?" I mean, you brought in some reinforcements when you started at Snowflake, including Michael Scarpelli, who was your CFO at Data Domain and ServiceNow. And you had literally physical media that could logistically manage. You have served, as I intimated in the introduction, as the CEO of companies in Silicon Valley and now, Montana, but your story really begins 5,500 miles away from the West Coast. I always find the problem when I hire people that are already, they have just taken a job and they're already about their next job. Everybody has ideas. Right, you got a good point. It's been extremely successful since we took over. Things will change in ways you cannot even imagine the ideas that happen. Data Domain was really an interesting company. The eight blocks of the street run from Broadway in the west to the East River in the east. I mean, we have bumper stickers and people would at trade shows would stick them on tape libraries. I'm buying aptitude and then I'm going to develop that with experience, right? I mean, I still remember that we were in countries like France, where we had like a $10-million business, which was very small. It's like, "That's not exciting." welcome back! Because now, now you're going to look people in the eye, and say, "Look, this is the way we're going to be. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. Frank Slootman Wiki, Biography, Age, Spouse, Net Worth, Fast Facts If it's not related to our core mission, we don't want to hear about it. SAN MATEO, CA - May 1, 2019 - Snowflake Inc., the only data warehouse built for the cloud, today appointed Frank Slootman as its Chairman and Chief Executive Officer.Former CEO, Bob Muglia, has left the company after leading Snowflake through five years of unprecedented growth. And it was really my wife who said, "No, no, we'll go. They're very safe. And today, there's an endless bank of software company elevators, but when you joined Comshare, it was in the nascent days of the tech world. So, it just started to happen, but I wanted to desperately be in software at that time. That's the reason why this country does so well. Right? In the early days, I want to say like the first eight to 10 years or so, were actually immensely frustrating to me because I was a strange animal, right? It was just a beautiful thing when a company has massive scale and distribution, what a good product that gets entered into that context can do in a short period of time was mesmerizing. The biggest guess is that Frank Slootman simply had the track record for having previously taken data storage companies successfully out of trouble and into the future. One of the worst, worst in the English language for me. ICE is the first exchange to list LNG freight futures contracts underpinned by the price assessments of spark commodities. That was career death for people, so it was just the least flattering place in the entire IT operation was backup and recovery based on tape, very logistically, intense. No databases of scale and no file systems with scale. Snowflake CEO Frank Slootman Wrote the Playbook on How to Amp It Up Here's why this makes sense while looking at some options. The Frank Lloyd Wright (R) Suite will be accepting bookings from January 24, 2023, through March 31, 2024. . It was very formative. So in other words, I did not accept the Snowflake role until, Mike said, "I'm coming along.". Chiefs defensive lineman Chris Jones recorded his first sacks of his postseason career in a redemptive victory, and his linemate Frank Clark stepped up in the playoffs once again. We tried to, we wanted to get into primary storage. Slootman is the CEO of Snowflake, a cloud-based database firm he joined in 2019 and took public in September 2020 in a blockbuster initial public offering (IPO). These days, a lot of folks take it for granted, but Wall Street has a fascinating history. What took you back to the Netherlands at one point? Snowflakes debut on the New York Stock Exchange on September 16 under the ticker SNOW delivered the much anticipated blockbuster opening. One company that embodies this vision is ThoughtSpot, an analytics company. Never heard of that company." I mean, if you look historically at what platforms like ours have done, there is no relationship to the past with what Snowflake is doing now. The Dutch have all always been enterprising. 5.9% of any company is a huge deal. On stacking, all of a sudden, your boat left behind and you go like, "Oh, my God," so because it's very hard to get ahead on an upwind leg, right? Better, better all the time. Snowflake: Not What You May Think It Is - Datanami Yacht Racing is incredibly exciting and then it has a lot of corollaries to business because it's this multidimensional game of weather and competition, and what happens on the race course and reacting to it. And, likewise, when I go to Holland and I meet Dutch customers there, they kind of look at me with a smirk, like, "Yeah, I can tell you're Dutch. Snowflake CEO on customer spending, weak guidance, A.I. and the company Slootman moved to Silicon Valley in 1997. We wanted to buy technology from, what at that time was Veritas, Convo, companies that are still around, because then we could really address the, the functional scale and scope off our platform. And people that know the Dutch, and you seem to know to Dutch people, it's, fairly recognizable what the Dutch attributes are that are at play here. It becomes the beating heart of a modern enterprise. When a company is buying a million dollars from you in the course of a year, what are they getting? Those are all disciplines that leverage where they are, right at the headwaters off the entire European continent. Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? And then I change myself to become that flavor of CEO. And it wasn't until the consent degree with IBM that really unbundled the software from hardware because software industry couldn't even happen because software was bundled. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. And you can't play chess pieces in a million different ways, right? Check out the subtleties of his Wikipedia below. Frank Lloyd Wright's Buildings in Japan Software was barely an industry. It could address very few use cases. I mean, they had graphical user interfaces that were completely proprietary to that company. And Mike, he takes on the end entire spectrum of controls and administration. So, because we all have our that's sell of awareness. I actually wanted to retire, truth be told. I mean, it gets rid of you. And if you've got a comment or a question if you'd like one of our experts to tackle on a future show, email us at. All these things eventually came together. So, the earlier you show up, the better off you are. But the essence of what I'm getting when I hire you is what you're innately good at. Frank Slootman - Wikitia So not only is this CEO a winner on land; he also dominates the sea with his sailboatpretty impressive on any measure. That's the point of it. And we introduced a centrally cleared model with ICE as the central counterparty, because that makes it much easier for new firms to join. So like, "Look, I'm not going to be doing the same races over and over again." I'm on the phone with customers every day. And Mike was still the CEO at ServiceNow at that time. And then of course, Michael Dell found just as attractive to bring EMC into Dell. I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." Prior to joining Snowflake, Frank served as the CEO of ServiceNow and that's NYSE ticker symbol, NOW and Data Domain, leading both of those firms successfully through their IPOs. Brady is a great example, but Joe Montana was that way and they all craved that energy, that excitement, that intensity, they can't let it go. Listen to this episode from This Week in Startups on Spotify. And, how do you design single best data operations platform you possibly can?". Like, "Yeah, why don't we just throw that guy into that fire and see what he can do with it.". Yeah, it was a good problem. You really need to, look at yourself as an asset that can be applied in many, many different ways. Correct, correct. But it's also, you attack and you cross again. So, this is not data warehousing, it's just one use case. In any successful company just ask them, they will attribute success to their culture. It's just that there is a spirit here that always believes that it can do things that other countries don't believe about themselves. That culture really keeps you safe from being indulgent or just, you're sort of presiding. Snowflake CEO Frank Slootman Profile - Business Insider It's very hard. In other words, "How fast does this might work?" And the reason that I found it so interesting is technology was mesmerizing. I mean, it was just trying to stay alive. And that's exactly what we did. If you like what you heard, please rate us on iTunes, so other folks know where to find us. At the same time, I ended up in conversations with the lead director and investor at Snowflake. Learned an awful lot in that period of time. Snowflake CEO Slootman Scores IPO Hat Trick With Big Bet on Data Yeah, there's no doubt. And how that allowed him to grow Snowflake into the biggest software IPO ever, and how. That's NYSE ticker symbol, S-N-O-W. His book from John Wiley and Sons, Amp It Up: Leading For Hypergrowth By Raising Expectations, Increasing Urgency, and Elevating Intensity is in bookstores and online now. This boat actually won Slootman the 2017 Transpac Honolulu Race in 2017. But you dont achieve a $1.8 billion net worth by being a spendthrift. They're very well dialed into it. We just never backed off of it. The IPO was the third for Slootman, who moved to California for a job at Compuware in the dot-com boom, then worked at Borland Software. Episode 280: Snowflake CEO Frank Slootman Wrote the Playbook - the ICE And by the way, when you see the decline of very, very storage enterprises, you can pick MG and HP and and Intel and so on, what happened to these people along the way? Over the past 20 years, as CEO of Data Domain and then ServiceNow and now Snowflake, Frank Slootman has generated extraordinary growth and success for each company and established himself as one of the world's top CEOs. Frank Slootman - Narrow the Focus, Increase the Quality - [In It became very meaningful to them. All Rights Reserved. Frank Slootman is the CEO of Snowflake, a cloud-based database firm he joined in 2019 and took public in September 2020 in a blockbuster IPO. You could eject the tape from a tape drive and you could ship it off site. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. You're no longer using data to basically please a bunch of eyeballs, like, "Hope you like it. Basically, we had to solve our enormous problems that we have while the company was doubling in size, more than doubling its size every year. They want to know what good behavior is. The 61-year old Dutch executive's first CEO job was at an early-stage startup called Data Domain that made specialized storage hardware. But the issue with the acquisition, by the way, I've never sold a company in my life other than that one, so I'm not prone to selling at all. So, I got pestered by VCs over the years, like "When are you going to do an update to your book because you now have two more companies to talk about." In the Dutchman Frank Slootman, a non-coddling, no-nonsense executive who had taken Data Domain public before selling it to EMC, Leone saw "a match made . And obviously, I got that in spades at UN Royal in Indiana. Snowflake CEO Frank Slootman on Covid and remote work adoption - CNBC As Snowflake got bigger in 2019, the company knew it was time for leadership to take it to the next level and brought in today's guest, Frank Slootman, as CEO. Slootman said diversity comes second when making . Right? Snowflake, the cloud-based data-warehousing company, has been on fire in 2020, with veteran tech CEO Frank Slootman at the center of its success. From the library of the New York Stock Exchange, at the corner of Wall and Broad Streets in New York City, you're inside the ICE House, our podcast from Intercontinental Exchange on markets, leadership and vision in global business. Creative Commons Attribution-ShareAlike. Yeah, in some areas it's easier than others, and in sales, we can just look at what people have done the past. But predictably, we already talked about Dutch culture, that relationship between the American parent and the Dutch subsidiary didn't go so well. But with three IPOs in your rear view mirror and one attempt at retirement already failing to stick, what do you see as the next chapter in Frank Slootman's journey? That is the X factor in companies, but it starts with weaponizing the mission. They all do and for a good reason. You hit a mark, you have to do two 360s. IBA took over the auction in 2015 and we moved it to an electronic auction and on the web ICE platform, so it's fully audited to proper electronic liquidity window of market. Take our own company, Intercontinental Exchange, for example. Leone took Luddy on a host of interviews. It wasn't long before top VCs weighed in. I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? I was a huge fan coming here. He cancelled the luxurious annual employee ski trip to Tahoe. And it wasn't charged for, so companies just couldn't build software because it was just given away. Snowflake CEO Frank Slootman Leading for Hypergrowth 2,637 views Jan 15, 2022 Frank Slootman is an American billionaire businessman, individual investor, technology executive, and the. And then George Washington was sworn in as the first President of the United States, just a few feet from the front door of the NYSE on April 30th 1789. 10 Things You Didnt Know about Loggi CEO Fabien Mendez, 10 Things You Didnt Know about Mark Nelson, 10 Things You Did Not Know About Thoughtspot CEO Sudheesh Nair, 10 Things You Didnt Know About Guy Nirpaz, 10 Things You Didnt Know About Paul Stovell, How Ali Wong Achieved a Net Worth of $3 Million, Eight Reasons to go to French Polynesias Marquesas Islands, How Lisa Rinna Achieved a Net Worth of $10 Million, 20 Cities with The Worst Weather in Europe. They've never really been asked that before. The liberalization of LNG is creating a global natural gas market, with freight acting as a virtual pipeline between continents. Where I come from, people are quite resigned to their fate. I mean, it's a hell of a cash burner as well. [1] In June 2012, ServiceNow became a publicly-traded company as Frank Slootman led the company through a $210 million IPO. While most CEO's would be described as the person who would take their company to the moon, Slootman has been referred to as the person who would take his company to Mars. And Americans always think that there's an easy answer to these questions. This is probably the biggest understatement of the year. Are you just going to look the other way or are you going to call it out? Its none other than CEO Frank Slootman, and here are 10 things about the guy behind the current Snowflake craze. And I say, "Stop putting labels on yourself. We'll do something good with it. And I have to, the moment I start sitting in my ivory tower and rely on reporting from people all over the place, we're in a world of hurt. That's where we're at right now. No. Back then, there were hardly any software companies around. Of these, six were built: the Imperial Hotel and Annex, the Jiyu Gakuen School, the Aisaku Hayashi . Closed: Thanksgiving, Christmas Eve, Christmas and New Year's Day. So I've been very different from early days of Data Domain, later days of Data Domain, early days of ServiceNow. Here's your host, Josh King of Intercontinental Exchange. And by the way, for most people, that's a very difficult question. Property details for 3001 W Ruby Hill Dr, located in Pleasanton, California. Okay, it's real easy and in engineering, they put guys on the whiteboard and they give them problems. And I said, "Why not?" It was small, it was slow. Everybody has access to capital. You just get into this cycle where all you want to do is leave. How does having who's worked closely with you for years help you accomplish your goals of hyper growth without losing focus? Africas largest economy is in the early stages of a monetary experiment that could be coming to the U.S. sooner than you think. I can't get you aptitude. You arrived at something like tape sucks. What's your advice about someone climbing the corporate ladder looking to make that leap? We actually won everything that we wanted to win. I was like, "Jesus, I spent my whole life trying to get here. Sometimes that is hard for American audiences. That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. I don't care for any of that. And the other thing I'll say is we maintain a very, what we call a malcontent attitude. And Brett Favre was that way. And I look at what the situation requires of me, not what I want to bring to it per se, based on my own background. And he always talked about Snowflake because it was a very exciting company to him and I didn't know that much about it, but enough to have a conversation. So, understanding that is really important because obviously, you can't fight it off unless you understand where it's coming from. Early days of ServiceNow was just jungle fighting. But the world of backup and recovery, was dominated, as you said, by tape automation technologies. It's always hard when you come in as a CEO and you have to follow a founder because the founder almost has mythical status in the organization. What did that initial scaling up to that point and then the public exit experience teach you about why being acquired was the right choice for Data Domain? Right? He's like, "How do we run a supply chain?" But backup recovery still largely dependent on tape and tape automation technology, so we created a tape. Now, it was actually pretty interesting because this was sort of a forerunner of a data analytics, business intelligence type of company. Bachelor of Science, Erasmus University Rotterdam, The Netherlands; Master of Science, Erasmus University Rotterdam, The Netherlands. And when you're burned out, you don't regenerate anymore. Everyone's watching. Frank Slootman - Chairman and Chief Executive Officer - LinkedIn Open main menu Close main menu Home About Us Contact Us States Advanced Search Frank Lloyd Wright Home and Studio | Frank Lloyd Wright Trust What attracted you to the space? So, I just had some peripheral view of the company, as well as its strategic challenges, by the way. We left off before the break with your decision to literally set sail after 33 years of a career that took you all over the globe, including bringing two companies public. And the term BI had not even been invented back then. That's NYSE ticker symbol S-N-O-W or snow who, like the immigrant inhabitants of New Amsterdam more than two centuries ago, has proven himself a master entrepreneur and visionary leader, able to take a great idea and scale it massively, and then apply the same playbook again and again. I mean, that's how aligned this is, okay? Bunkers is basically a silo that's incredibly hard to access. Frank Slootman - Topp podcast avsnitt Snowflake Appoints Frank Slootman as Chairman and CEO When you run companies, you need to narrow the plane of attack very, very quickly. And when the whole world goes direct to consumer and it becomes disintermediated and goes wholly digital, the role of data obviously becomes insanely important. Now, you can be very obstinate about it and say, "Well, I'll eventually cross that bridge when I come to it," or you can try to anticipate it and say, "Okay, I'm going to find somebody who has the resources that I do not possess." I mean, we were crawling the bottom in the early days, so we had a product that had marginal product market fit. Where does a CEO Frank find time to write two books back-to-back and what was the inspiration for Amp It Up? I can just blow a year on doing some other stuff that's interesting." Because you're like, "Oh, this is great. A compensation package he received upon joining Snowflake in April 2019 awards him a. Meaning that we would run something like Tableau on top of Salesforce or whatever. Our European futures operation is based in London, England, and a big part of that operation is futures trading for Dutch Natural Gas at the Title Transfer Facility or TTF, virtual trading point in Amsterdam. But . It has certainly worked well for himself, for the companies hes worked under, the many investors that have poured money in his name, and so forth. This site uses Akismet to reduce spam. By the close of. But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. And essentially, he defends. The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. There's no doubt that the successes that we have had, our function of the combination of our respective orientations in how we come at the world. Including his options, Slootman owns about 10% of Snowflake. The consequences of your action are like right there. It was super interesting to me, sort of my first encounter with American management. [9] In June 2019, the company launched Snowflake Data Exchange. So, what are things that we should absolutely not ask you to do ever? Some may describe him as direct. Now, we're going to go move the pieces and I'm just a piece on the chessboard." At 61 years old, Slootman has created quite the reputation for himself. So, we came up with this war cry that said, "Tape sucks, move on." And the whole point of the book is I try to contrast these experiences, like look, they're not the same. Now, as the story goes, England followed the Netherlands in control of Manhattan. What are your God-given talents? After all, he has experience on his side. The company, which prides itself as the leading customer success, Read More 10 Things You Didnt Know About Guy NirpazContinue, Medical marijuana is increasingly becoming a popular trend in the treatment and management of different diseases including chronic and fatal ones such as Alzheimers disease, brain tumors, cancer, HIV/AIDS, chronic pain, and multiple sclerosis. This page was last edited on 12 March 2021, at 18:12. I'm the opposite. It is hard when you lose your sense of mission, when you lose your desire and your boldness and your aggression in the marketplace and want to go after competition. We are people that basically see everything that's wrong all day, and we always see a room up from where things are. Because that's what it is. That's really what you want to preserve rather than layers and layers and layers and channels of communication. I just took a job with a software company just to be in software and that's sort of the extent of my thinking on that. You've said that you were really born in the wrong country. Don't typecast yourself." Who can solve what set of issues, right? And it was difficult for him to sort of hand over the reins, but the investors in the company convinced him that, "Look, we think that this is needed," because the company was growing well. It is data operations from the most transactional to the most analytical and everything in between, so. Frank Slootman - Forbes Give me that train wreck. People who have seen sort of the ticker symbol of Snowflake pass their eyes on CNBC and see how its companies perform and say like, "What is that company with the name after falling snow from the sky?" You need to sort your issues into, "What am I going to focus on?" And all of a sudden, everybody is just high-fiving and doing victory laps and everything is beautiful versus reality is completely different. The list of its authors can be seen in its historical. This is really think about it as a database in the Cloud. And that's our conversation for this week. All of which is presented solely for informational and educational purposes. So it's a very important question because if I hire you, I can get you experience every day at the week. In Amp It Up, Frank, you say that a company's mission really has to be weaponized. It takes nothing. That's why they're big in banking and insurance and distribution and logistics. The New York stock exchange sits at the Southern tip of Manhattan on the corner of Wall and Broad Streets. Frank Slootman joins Jason for another incredible conversation that ranges from the management shift in Silicon Valley (1:08) to how to know if you're moving the dial in your organization (9:59). That's when you're at risk. Obviously, I was a young man and not even in my mid-30s and I'm taking over a whole business, a whole organization, global, all this kind of stuff, so, it was a hell of. The former Frank CEO said JP Morgan had full knowledge of Franks customer data before the acquisitionand Chairman Jamie Dimon personally pushed for it to happen. And that went on literally for years, okay? You relate well to that way of thinking. Who is Snowflake CEO Frank Slootman? | The US Sun Museum Shop Hours: 9:30 am - 5 pm daily; 9:30 am - 4 pm in January and February. If you want to know more about this CEO, this might be the book to read. Steve Jobs didnt even own 1% of Appleeven though he had millions worth in shares. And we publish the data transparently on our site, so anyone can come and see what actually happened in the auction.