I mean, it was a super crowded field, but we just crushed that entire field. You're no longer using data to basically please a bunch of eyeballs, like, "Hope you like it. The question is, what are you going to do? All of us, no exceptions." I mean, people go from spending $50,000 a year to a million dollars a year in one year and they're like, and the CFOs go, "What the hell is this all about?" Snowflake: Not What You May Think It Is - Datanami Because they can't understand how spending categories can just explode overnight like that. But the essence of what I'm getting when I hire you is what you're innately good at. Nothing herein constitutes an offer to sell, a solicitation of an offer to buy any security, or a recommendation of any security or trading practice. Strong personalities will just dictate culture in certain business units, in certain geographies and so on. It doesn't matter how big we are, as long as we have a compelling mission that we want to get up for every day and swing for defenses and then, it's not hard. They're very well dialed into it. But he had also been the CEO of ServiceNow for seven years. And then, I had another internship after that. When I was at Data Domain, hell, we were 15 people when I joined there. If you want to know more about this CEO, this might be the book to read. What goes around, comes around and the Dutch get around the world. Snowflake CEO on customer spending, weak guidance, A.I. and the company It takes a ton of work to maintain intense focus on the mission, so that's the weaponizing. You can't help but run into Dutch people everywhere because they have such a small country. And that's all coming up right after this. CEO Frank Slootman (second row, fourth from left) and the Snowflake team virtually rang the opening . It's really a company production, by the way. But in the end, it's like we have to get into backup software in which we tried. None of that stuff is material to your mission. They were all special purpose for this thing and that thing and that has really created a lot of problems for data center operations, because they just had a Frankenstein architecture out there and people are sick of that. We're not trying to find fault with people or who did what to whom. They all do and for a good reason. Obviously all the financial reporting, all the systems. And the term BI had not even been invented back then. When I was interviewing with ServiceNow, I said to the board, "I want to bring Mike along." 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. Snowflake CEO Frank Slootman on moving the needle, win-first - Spotify People that the company really, really runs on. What is the core of your being, right? For example, he made a few changes at Snowflake when he became CEO. You're finding the best sailors in the world and all of that. 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? I look at the situation, "What does this require?" I don't know what, if you go back to those days. So, it was an incredible trial by fire. Tej, Read More 10 Things You Didnt Know about Tej VirkContinue. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. And it worked like that for about a hundred years. The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. That takes very different approaches, orientation, skill sets, and so on what you do. Snowflakes debut on the New York Stock Exchange on September 16 under the ticker SNOW delivered the much anticipated blockbuster opening. When I in Ohio, I joined copy ware in Farmington Hills, Michigan, and I had not even been there a few month and they acquired a sizable company in Holland, a company called Uniface. In any successful company just ask them, they will attribute success to their culture. VCs have entered the debate on Snowflake CEO Frank Slootman's comments Before becoming President and CEO, Mark served as Tableaus Executive Vice President of Product Development, coordinating the, Read More 10 Things You Didnt Know about Mark NelsonContinue. Right? In other words, they kind of let it happen. I mean, what drove you to move on? And that's a whole different deal. Snowflake CEO Frank Slootman: How To Boost Growth And Drive Meaningful They're very lonely in their jobs. When you get that sensation, you do need to leave because you're no longer the right person for that situation. And fortunately, the temperament that is in you, it's going to re-manifest itself sooner or later. I'm buying aptitude and then I'm going to develop that with experience, right? But yeah, then I was off for two years and I did a lot of sailboat racing and I did talk about that in the book as well, because that was a passion and I'd never been able to do that without guilt. Open main menu Close main menu Home About Us Contact Us States Advanced Search In 2003, he became CEO of storage startup Data Domain, taking it public in 2007 and selling it to EMC in 2009 for $1.8 billion. Because now you're buying somebody else's culture. But I was now really primed at that point, in terms of, I knew a lot more, about what it was like to be in the US. Snowflake CEO Frank Slootman on Covid and remote work adoption - CNBC So, getting an internship in the US in those days was a really big deal and it really didn't matter to me, where it was, what company it was, I just wanted to have the exposure to what is that like. Make it as easy as I could make it. I always tell my own people, "Look, I'm a piece on the chessboard, okay? Everybody has access to talent. So, this is not data warehousing, it's just one use case. 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." The consequences of your action are like right there. 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. So, what are things that we should absolutely not ask you to do ever? The information contained in this podcast was obtained in part from publicly available sources and not independently verified, neither ICE nor is affiliates, make any representations or warranties, express or implied as to the accuracy or completeness of the information and do not sponsor, approve or endorse any of the content herein. Once you understand relationships, you can now predict them. There's no doubt, I'm a total hybrid here. I hate that. Given his accolades, Slootman gets invited to speak at many events. While everything about Snowflake is hot in the market, were left asking who is at the helm of it all. And Frank, while you were getting your degree from the Netherland School of Economics, you came to the US for an internship with UN Royal and returned after graduating to get a job at Burroughs, which is now Unysis and ticker symbol, UIS. And it was one, and we were better known as the tape sucks company than we were by our own company name at one point. The IPO was the third for Dutch-born Slootman, who moved to California for a job at Compuware in the dotcom boom, then worked at Borland Software. Not all people are created equal in terms of their roles and their contributions in companies. And companies that have been around a long time, it's near to impossible to undo the culture. But one day, and this was in March of 2019 and he said, "What would it take for you to take the helm?" I mean, it was doing well. Frank's new book, Amp It Up: Leading For Hyper Growth By Raising Expectations, Increasing Urgency and Elevating Intensity, still is the leadership principles he's developed over his long career. 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. Property details for 3001 W Ruby Hill Dr, located in Pleasanton, California. It could address very few use cases. So in hindsight, I understood that I was just burned out, classic burned out. And we publish the data transparently on our site, so anyone can come and see what actually happened in the auction. I can't get you aptitude. Photo by Christie Hemm Klok/The Forbes Collection. But it's a very, it's a country that has really no natural resources other than the natural gas that you mentioned, which they're pretty much run out of by now, so they've really leveraged their geographic location over the years. Everyone's watching. We had no experience. Snowflake CEO Frank Slootman made headlines with controversial comments about diversity in the workplace. And people are, are mesmerized by Snowflake results because they don't quite understand, where is this coming from? Slootman said he understands people might be eager to more freely leave their homes once long-standing public health restrictions are eased, potentially wanting to return to pre-pandemic routines . In other words, "How fast does this might work?" 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). After joining almost at the start in 2003, Slootman helped. Including his options, Slootman owns about 10% of Snowflake. You guys are a data company, you know as well, right? When a company is buying a million dollars from you in the course of a year, what are they getting? Welcome, Frank, inside the Ice House. And there is a following for this and the reason that we know that is because we wrote a book back in 2009, 2010, that sort of became a combat manual for entrepreneurs over the years where, because this is really for people that have nowhere else to turn. Over his distinguished career, Frank has mastered the process of fundraising scaling and building young companies into unicorns with the run ending eventually way back here at the corner of Wall and Broad Streets with an initial public offering. [3] On September 16, 2020, Snowflake made an IPO, selling 28 million shares and raising $3.4 billion, making it the largest software IPO in history.[4]. So, she talked me into it because I was on the verge of saying, "Look, I'm not going back there." And also in sailing, you're always looking for new adventures, different platforms and things of that sort to sort of keep it interesting, continual learning experience and so on, rather than rinse and repeat. Right, you got a good point. So like, "Look, I'm not going to be doing the same races over and over again." 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. People were looking at my credentials. Not much is known about Slootmans personal life, but we do know that hes fairly young for the success hes achieved in his lifetime. ICE is the first exchange to list LNG freight futures contracts underpinned by the price assessments of spark commodities. Frank Slootman currently serves as Chairman and CEO at Snowflake. Slootman previously served as CEO for Data Domain and for ServiceNow, which he both took public. Because you're like, "Oh, this is great. I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? Africas largest economy is in the early stages of a monetary experiment that could be coming to the U.S. sooner than you think. And Mike was still the CEO at ServiceNow at that time. Snowflake CEO Frank Slootman is the toast of the big data community, and following the $3.4 billion IPO, a favorite on Wall Street too. 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. And the EMC came in and within a quarter, it was up to a $100 million because they had channels and customers and everything primed and ready, right? Slootman received both his undergraduate and graduate degrees from the Erasmus University Rotterdam School of Economics. Not exactly like a year and a half, he'd been there for seven years. And the whole point of the book is I try to contrast these experiences, like look, they're not the same. I can just blow a year on doing some other stuff that's interesting." I mean, we were crawling the bottom in the early days, so we had a product that had marginal product market fit. They're high anxiety, they're entrepreneurs, they're CEO, and sort of getting a very unvarnished view, inside view from a fellow traveler. One of the worst, worst in the English language for me. People naturally become very unfocused, very, very easily. From Broke To Billionaire: How Fred Luddy Built - Forbes And, how do you design single best data operations platform you possibly can?". So not only is this CEO a winner on land; he also dominates the sea with his sailboatpretty impressive on any measure. I mean, the only thing that energizes people and teams and organizations and companies as a whole is the mission. And how that allowed him to grow Snowflake into the biggest software IPO ever, and how. Frank Slootman - Wikitia Americans are, it doesn't matter what profession they're in, they always believe they can do better. That is the most, that is so unproductive. Read More 10 Things You Didnt Know About Paul StovellContinue. Between 2011 and 2017, Slootman was Chairman and CEO of ServiceNow - one of the world's leading SaaS . I mean, you're not going to get excited, "Well, we want to grow 100% this year." Because if I sailed before, I always felt guilty because I was doing something that wasn't the company and now, I was completely free of guilt because it was my own time, my own money, et cetera and it was great. 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. Wikitia is not affiliated to Wikimedia Foundation. I'm trying to get into markets, not get out of them, but strategically we had a dilemma and others that we were, what I would call landlocked, maybe another nautical Dutch type of term, because we couldn't get beyond our core business of backup and recovery. Things will change in ways you cannot even imagine the ideas that happen. So, after six years of success, by any metric, by playing the king on that ServiceNow chess board, why was it time to step down? We don't preside, okay? And that's the American flavor and flare that has built up over three, almost four decades. Snowflake moves executive office from California to Bozeman, Montana - CNBC Well, that's because historically all we did was we did analytics in silo. It was doubling. Meaning that we would run something like Tableau on top of Salesforce or whatever. You could eject the tape from a tape drive and you could ship it off site. At the same time, we've never had a data Cloud in the history of computing because data was just fragmented and proliferated into silos and what we call bunkers. Make the connection to a global natural gas market at ICE, get started with ICE LNG freight futures today. It became very meaningful to them. After the break Snowflake's CEO Frank Slootman and I are going to preview and review some of the other lessons in his new book, Amp It Up. And now, I feel like I'm being haunted, by this Dutch thing, this cloud that's hanging over me." If there were one person you could sit and learn from today, who would it be? A term that gets used a little bit too much in too many places. It was just like Formula 1 of sailboat racing. But the thing that I like so much about yacht racing that I like better than being in business is when you make a mistake on the race course, it's almost immediately obvious that you did. Slootmans style of leadership is not gentle at all. They just said, "Look, let's re-envision, re-imagine based on the platform realities that we now have, which was the Public Cloud. But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. I don't have to go work on Monday. That is by then, we often refer to this as data enrichment because you can take incredibly mundane data and when you enrich it with data attributes from other sources, like for example, you guys did with ADP, all of a sudden data goes from mundane to high octane. And I was like completely taken aback because there not a single thread thinking about that, considering that, considering any role of any sorts. I'm a proud US citizen, but at the same time, there's no negating my Dutch roots. 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. I really had to change from being an individual contributor or a small team leader to somebody who runs organizations. Fred Luddy, the founder of ServiceNow, I mean, super talented guy, obviously. Because he was still smarting from the fact that I left ServiceNow and he felt I left him stranded. Snowflake Inc. - Wikipedia But one of those issues was that taken over from a founder CEO was really, really hard. 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? And everybody was like, "Who's Data Domain? They only learn from consequences, so you got to create consequences, good and bad when things happen and things happen all day long. Okay? But if you're performing at Tom Brady's level, you have no reason to step aside. Snowflake, while not yet generating $1 billion in annual revenue, leaped into the Cloud Wars Top 10 several months ago and . What took you back to the Netherlands at one point? In the book, I go on and on about what some of those issues are. You've said that you were really born in the wrong country. And you can take it or leave it and try it on for size and see if you like it." How Much Snowflake CEO Frank Slootman Made in 2019 - Business Insider Perhaps thats exactly the kind of leadership that gets a million-dollar business into the realm of billions. He also scaled the workplace back tremendously from stunning spaces in San Francisco to headquarters in San Mateo. But this was quickly set aside because Frank appears to walk the walk. But that is what digital transformation is. The scramble isnt over, and many who missed the opening also missed on the double growth just off the gate. It becomes the beating heart of a modern enterprise. 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. The ambitions that happen, the boldness that happens as a result of that, that becomes the magic. Amping it up with Snowflake CEO Frank Slootman - SiliconANGLE 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. It was small, it was slow. Career In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. And by the way, for most people, that's a very difficult question. Slootman has become somewhat of a business hero for many people, myself included. Now, most organizations are incredibly in up still in terms of their data promise. Slootman said diversity comes second when making . You really need to, look at yourself as an asset that can be applied in many, many different ways. Well, you think you're just going to turn it off? The name was also fitting because a few years later, Snowflake burst onto the tech scene with a one of a time groundbreaking Cloud data warehouse product that revolutionized how companies could manage their data. What you're doing now is doing pretty good, so keep yourself in the game, Frank. 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? 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. Learn how your comment data is processed. By the close of. Give me that train wreck. In other words, swarm to it instead of distance yourself from it. 5.9% of any company is a huge deal. CEO Outlook | Frank Slootman - KPMG Global This property is owned by Frank & Brenda Slootman. I was like, "Jesus, I spent my whole life trying to get here. And that's, I had a question the other day from somebody that hit me on LinkedIn and he was putting all kinds of labels on himself. Snowflake, a cloud-based data-warehousing company, went public at $120 a share, and has since seen shares trade as high as $328 per share. We will talk to you next week. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 I only think about now and what I'm doing today. It's a small country, obviously, which is why they sort of veer far and wide. The founder brings you in to scale up the company, but finds it difficult to step aside. It was the lowest ranking job in the entire world of IT, if you were involved with tape automation. Because now, now you're going to look people in the eye, and say, "Look, this is the way we're going to be. And then by the way, I have to have that around me, because I don't like people that want to self-congratulate and do victory laps all day. Every week there was a new bid. So, we came out there and we said, "Look, no, we're not just going to sell a product here. It still runs as an auction in rounds of 30 seconds and final price were used as the benchmark for the entire gold market. Well, the number one bit of advice I would have is make sure you're close to the drive train. Right? A compensation package he received upon joining Snowflake in April 2019 awards him a. JP Morgan paid $175 million for a startup it believes it was conned into buying. Did you find it difficult to change Snowflake's established culture? But what is so great about it is, I mean, the starts are incredibly exciting and that takes enormous amount of drilling to become really good at starts because it's a tightly, tightly coordinated process and you have to become good at it.
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