Why did you give up the helm of the invisible hand for this new role with Snowflake? When you run companies, you need to narrow the plane of attack very, very quickly. You can't help but run into Dutch people everywhere because they have such a small country. Now, you can manage LNG freight risk with ICE LNG freight futures contracts, which join our global natural gas complex. Yeah. In May 2019, Frank Slootman, the retired former CEO of ServiceNow, joined Snowflake as its CEO and Michael Scarpelli, the former CFO of ServiceNow joined the company as CFO. What attracted you to the space? [23] When we first came in there, it was a very, very anxiety-ridden ride in the early days. Can you explain how you overcame both to lead the company through its 2012 IPO? He said, "Because you guys are indicting everything I've done." 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. We'll do something good with it. In Amp It Up, you're pretty open about the struggles the company faced in its business and leadership. You really need to, look at yourself as an asset that can be applied in many, many different ways. It still runs as an auction in rounds of 30 seconds and final price were used as the benchmark for the entire gold market. Presiding is the worst word. And there were many, many players in that segment, by the way. 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 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. We're not trying to find fault with people or who did what to whom. It was small, it was slow. A compensation package he received upon joining Snowflake in April 2019 awards him a. 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. It's just, it's hard not to be acquainted at some level with that culture. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace. Frank Slootman, Chairman and CEO of Snowflake (NYSE: SNOW), presided over the largest software IPO in the NYSEs history, but it wasnt his first rodeo. 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. CEO Frank Slootman (second row, fourth from left) and the Snowflake team virtually rang the opening . Mr. Slootman served as CEO and President of ServiceNow from 2011 to 2017, taking the organization from around $100M in revenue, through an IPO, to $1.4B. And it's very much a talent game just like business is. Tour Hours: 10 am - 4 pm daily; 10 am - 3 pm in January and February. Open main menu Close main menu Home About Us Contact Us States Advanced Search All of which is presented solely for informational and educational purposes. I mean, that's how I felt at that time, like I had no more to give. Closed: Thanksgiving, Christmas Eve, Christmas and New Year's Day. And then I change myself to become that flavor of CEO. Better, better all the time. Right? Frank Slootman, Chairman and CEO of Snowflake (NYSE: SNOW), presided over the largest software IPO in the NYSE's history, but it wasn't his first rodeo. I need to know what that is. Snowflake CEO Frank Slootman Leading for Hypergrowth - YouTube Snowflake now has Frank Slootman as chairman and CEO. Blackstone Announces Appointment of Frank Slootman, Chairman and CEO of And, how do you design single best data operations platform you possibly can?". And it was really my wife who said, "No, no, we'll go. It was the lowest ranking job in the entire world of IT, if you were involved with tape automation. I'm in New York. Snowflake, while not yet generating $1 billion in annual revenue, leaped into the Cloud Wars Top 10 several months ago and . Snowflake CEO Frank Slootman Talks IPO Pop: Narrative Of Lost - Forbes So it's a very important question because if I hire you, I can get you experience every day at the week. Having run a number of global software companies, I appreciate the scope of resources that Blackstone can bring to high-growth . In this technological era, the field of analytics is vital as it makes it easy to access needed information without much of a hassle. How Snowflake CEO Frank Slootman became a billionaire by ripping up the Please help to demonstrate the notability of the topic by citing, Learn how and when to remove this template message, https://xconomy.com/san-diego/2011/04/26/service-now-names-software-industry-veteran-frank-slootman-as-ceo/, https://www.businessinsider.com/servicenow-frank-slootman-interview-2012-8, https://www.forbes.com/sites/tomtaulli/2019/06/05/snowflake-the-ai-force-multiplier/amp/, https://www.cnbc.com/2020/09/16/snowflake-snow-opening-trading-on-the-nyse.html, article "Frank Slootman" is from Wikipedia, https://wikitia.com/index.php?title=Frank_Slootman&oldid=81954. Everything in our world starts with technology, starts with architecture, okay? The liberalization of LNG is creating a global natural gas market, with freight acting as a virtual pipeline between continents. It is a future state that we're all working on right now. It's really every leader in the organization needs to internalize and then, want to act on it. Correct, correct. People that the company really, really runs on. 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. You speak the language, like we do, but there is something different about you." From Broke To Billionaire: How Fred Luddy Built - Forbes 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. The founder brings you in to scale up the company, but finds it difficult to step aside. I mean, it was doing well. Leone took Luddy on a host of interviews. 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. And my email just dribbled down to nothing and all this kind of thing." Steve Jobs didnt even own 1% of Appleeven though he had millions worth in shares. Snowflake CEO Frank Slootman: How To Boost Growth And Drive Meaningful Africas largest economy is in the early stages of a monetary experiment that could be coming to the U.S. sooner than you think. Slootman has become somewhat of a business hero for many people, myself included. ICE is the first exchange to list LNG freight futures contracts underpinned by the price assessments of spark commodities. But let's focus on another dilemma that brought up in the book, Frank. What goes around, comes around and the Dutch get around the world. And you can take it or leave it and try it on for size and see if you like it." Whatever he learned from school is probably what we should all learn. I don't know what, if you go back to those days. I mean, I still remember that we were in countries like France, where we had like a $10-million business, which was very small. I'm buying aptitude and then I'm going to develop that with experience, right? Snowflake CEO Frank Slootman Profile - Business Insider Property details for 3001 W Ruby Hill Dr, located in Pleasanton, California. Instacart Appoints Frank Slootman, Chairman And CEO Of - Insider By the way, our two largest competitors were both bidding for the company at the same time. What's the playbook?" And people are, are mesmerized by Snowflake results because they don't quite understand, where is this coming from? Let's go." Yeah, that goes back about mission posture. I mean, the only thing that energizes people and teams and organizations and companies as a whole is the mission. And obviously, I got that in spades at UN Royal in Indiana. He also scaled the workplace back tremendously from stunning spaces in San Francisco to headquarters in San Mateo. We were entertainment for Wall Street for a six-week period. Frank Slootman - Narrow the Focus, Increase the Quality - [In Once you understand relationships, you can now predict them. I mean, you can take somebody out of their country, but you can't take the country out of the person, as the old saying goes. Mike is a really good example of that because what he's really good at, I'm not, and I always use the, the analogy of he plays defense, I play offense. And you need to have the flexibility of mind to really deploy yourself. In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. So, what are things that we should absolutely not ask you to do ever? What's your advice about someone climbing the corporate ladder looking to make that leap? So not only is this CEO a winner on land; he also dominates the sea with his sailboatpretty impressive on any measure. No databases of scale and no file systems with scale. Wikitia is not affiliated to Wikimedia Foundation. Frank Slootman Chairman and CEO at Snowflake Bozeman, Montana, United States 32K followers 500+ connections Join to follow Snowflake Erasmus University Rotterdam Articles by Frank Drivers vs.. The question is though, for investors, for others, for employees, how do you keep momentum going now as a public company and how does the future look for Snowflake? In short, money talks, and Slootmans got it in his hands and in his mouth. Well, that's another thing I don't think about that. 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). As cool as it may sound, Slootman doesnt actually have a literal invisible hand. I don't know if you've watched any of the first couple seasons of Ted Lasso, but on a team of great characters, the Dutchman is the one guy, straight faced, no bullshit throughout the whole game. I mean, we have bumper stickers and people would at trade shows would stick them on tape libraries. 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. BUILDINGS. And we publish the data transparently on our site, so anyone can come and see what actually happened in the auction. We actually won everything that we wanted to win. 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. All of us, no exceptions." And then of course, Michael Dell found just as attractive to bring EMC into Dell. It wasn't long before top VCs weighed in. They want to know what bad behavior is. Take our own company, Intercontinental Exchange, for example. It was very formative. So, it was an incredible trial by fire. Most people just preside over culture. I hate that. What was that? 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. He published a book in 2011 called Tape Sucks. Okay? We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. He's like, "How do we run a supply chain?" I look at the situation, "What does this require?" No, we're talking about stuff that's not working well. Hes quite knowledgeable in the market industry, and he doesnt confuse with unnecessary jargon. And I talk about that in the book, because again, there's observations, maybe even lessons that can be extracted from what happens when you're in a crowded field and you're trying to separate yourself from the pack. I actually wanted to retire, truth be told. The improvement in technology is one of the main reasons that this commercial scene is flourishing by the, Read More 10 Things You Didnt Know about Loggi CEO Fabien MendezContinue, Tableau Softwares President and CEO Mark Nelson defines Tableaus vision and supervises the companys business operations and procedures. I talk to more people than most people in the company do, and that makes me dangerous because I hear directly what is going on - good, bad, and somewhere in between. Snowflake Appoints Frank Slootman as Chairman and CEO I'm Josh King, your host, signing off from the library of the New York Stock Exchange. Snowflake Inc. - Wikipedia It's lights out, light speed and then fully disintermediated and it's fully programmatic. Who is Snowflake CEO Frank Slootman? | The US Sun 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. Yeah, there's no doubt. If you like what you heard, please rate us on iTunes, so other folks know where to find us. It takes nothing. Slootman received both his undergraduate and graduate degrees from the Erasmus University Rotterdam School of Economics. For example, he made a few changes at Snowflake when he became CEO. And over time, we overcame that because we were laser focused on making the product bigger and faster every year. I think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. So, Frank, as we wrap up final question, and if it's a spoiler alert for Mike Scarpelli, if he's listening, Mike, you can turn off the podcast now. The Frank Lloyd Wright (R) Suite will be accepting bookings from January 24, 2023, through March 31, 2024. . Read More 10 Things You Did Not Know About Thoughtspot CEO Sudheesh NairContinue, If you follow business news, you may have heard that on September 29, 2021, Totango announced it had raised $100 million in Series D funding. That's awesome. Yeah. Well, you think you're just going to turn it off? They want to know what good behavior is. It's a small country, obviously, which is why they sort of veer far and wide. 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. And I say, "Stop putting labels on yourself. I really had to be shamed into writing this book, considering the amount of work that it is, but got a lot of help from the company. Snowflake CEO Frank Slootman on moving the needle, win-first culture & managing burnout | E1689. 2023 Forbes Media LLC. It is data operations from the most transactional to the most analytical and everything in between, so. But EMC prevailed. When you get that sensation, you do need to leave because you're no longer the right person for that situation. It was sort of an adjunct to what they called the computer industry back then. And rightfully so, by the way, because they have created something, right?. 5. We now use consumption models instead of subscription models. And that really allowed me to do this at 6:00 AM on weekdays and weekends and the holidays. And did you have a sense that the sector was really about to explode? You want to be the playmaker and the people that they're going to pass the ball to when we have two seconds left in the quarter, that kind of thing. 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. Mar 11, 2021, 11:30 ET. It pays a lot to be in the business of knowing what you do, and Slootman knows more than the rest of us when it comes to money, the market, and the software industry. Frank Slootman Wiki, Biography, Age, Spouse, Net Worth, Fast Facts But that is what digital transformation is. In other words, swarm to it instead of distance yourself from it. 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. 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. But then, you go like, "Oh, this is the rest of my life." 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. At some point, we were going to get stunted in our growth. As young as I was, I mean, I was determined that that's where I wanted to be and certainly, not hardware because I saw another way for commoditization happening over there. 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. Frank Slootman on Leadership and the War Against Mediocrity - ICONIQ Data Domain went public in 2007, but two years later acquired by EMC, in my home state of Massachusetts. Windows 3.1 didn't even exist. And you got to go back to the early days of Steve Jobs, who always had this glimmer of, "I'm going to do something insanely great." Here's why this makes sense while looking at some options. 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. In other words, they kind of let it happen. Snowflake CEO Slootman Scores IPO Hat Trick With Big Bet on Data 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. And it's like, "Well, why does that matter?" They're very far removed from the drive train. And that's a whole different deal. Whereas in business, it often takes so much longer to be confronted with the consequences of your actions and some people don't-. Frank Slootman, Chairman and CEO of Snowflake (NYSE: SNOW), presided over the largest software IPO in the NYSE's history, but it wasn't his first rodeo. He cuts back where he sees fit. They knew exactly what we meant. 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. And the reason that I found it so interesting is technology was mesmerizing. 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. 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. 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. This page was last edited on 12 March 2021, at 18:12. Between 2011 and 2017, Slootman was Chairman and CEO of ServiceNow - one of the world's leading SaaS . I'm like, "We're not trying to indict what you've done. It's very hard. And I had already made a little bit of a name for myself in the company. What you're doing now is doing pretty good, so keep yourself in the game, Frank. Snowflake CEO Frank Slootman on moving the needle, win-first - Spotify Snowflakes debut on the New York Stock Exchange on September 16 under the ticker SNOW delivered the much anticipated blockbuster opening. And that's exactly what we did. Slootman applies this philosophy in the workplace as well. But yeah, aptitude is really about, what are you innately good at? 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. 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 . Not all CEOs have this, but a lot of CEOs do. 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. Frank has been involved in the business programming market for over 25 years as a business visionary and chief. You could have a meeting in the hallway with the entire company. Right? 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. Yeah, yeah. The list of its authors can be seen in its historical. 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. 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. But predictably, we already talked about Dutch culture, that relationship between the American parent and the Dutch subsidiary didn't go so well. At the same time, I ended up in conversations with the lead director and investor at Snowflake. That's when you're at risk. So like, "Look, I'm not going to be doing the same races over and over again." You guys are a data company, you know as well, right? It was super interesting to me, sort of my first encounter with American management. And that is a common thread through all our companies. This sum is more than what the CEOs of Salesforce, Oracle, and even Microsoft was making. 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?" Spark 30S covers a route between the US Gulf coast and Northwest Europe, while Spark 25S covers a route between Australia and China. You got to catch people doing things the right way and then amplify that and praise it and reward it and so on because people are like pets and children. He was saying during the pandemic, he's like demand was up 60% over here, down 100% over there. Frank Lloyd Wright designed some 14 buildings for Japan: an embassy, a school, two hotels and a temporary hotel annex, a commercial-residential complex, a theater, an official residence for the prime minister and six private residences. Photo by Christie Hemm Klok/The Forbes Collection. And all of a sudden, everybody is just high-fiving and doing victory laps and everything is beautiful versus reality is completely different. So, it sort of lit a fire under me, just the prospect of doing that, it just kind of brought me back from my burned out state in 2017 to two years, feeling incredibly challenged, energized, and sort of having a new leash on life, if you will take on something like that. By the close of. Others might say that hes completely brash. Technology executive Frank Slootman took software company Snowflake public in one of the biggest tech IPOs of 2020, raising $ 3.4 billion at a $33.3 billion valuation. Episode 280: Snowflake CEO Frank Slootman Wrote the Playbook - the ICE 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. 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. So, I ended up in odd places because they didn't know what to do with me. 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. So, a book becomes highly scalable way of really creating some well-curated observations around "Look, here's what we believe to be true about the trajectory that we've been on. And I said, "Why not?" If you want to know more about this CEO, this might be the book to read. And you had literally physical media that could logistically manage.

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