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. the internship sort of came about because I was about a year ahead of schedule at the university. Before accepting the Snowflake CEO job, Slootman was retired and racing sailboats competitively in the San Francisco Bay Area. I mean, to this day, with all the other things that we've done, I still treasured that experience greatly and it's still a very large business to this day. 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. You hit a mark, you have to do two 360s. Our guest was Frank Slootman, the Chairman and CEO of Snowflake. The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. Back then, there were hardly any software companies around. 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. Snowflake now has Frank Slootman as chairman and CEO. The ambitions that happen, the boldness that happens as a result of that, that becomes the magic. And, how do you design single best data operations platform you possibly can?". It's up to 79% of the volume has gone cleared. Well, that's because historically all we did was we did analytics in silo. And I'm like, "You know what? All of us, no exceptions." So, I ended up in odd places because they didn't know what to do with me. The scramble isnt over, and many who missed the opening also missed on the double growth just off the gate. 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? People naturally become very unfocused, very, very easily. What kind of people fail here and why?" Early days of ServiceNow was just jungle fighting. 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. 5.9% of any company is a huge deal. How Much Snowflake CEO Frank Slootman Made in 2019 - Business Insider But this was quickly set aside because Frank appears to walk the walk. I mean, it was a super crowded field, but we just crushed that entire field. Slootman is going to take Snowflake for quite the ride, and you have to decide whether youre getting in his car or not. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. They want to know what bad behavior is. So after a while, it's like, "Okay, we've done enough of this." You've said that you were really born in the wrong country. Yeah, in some areas it's easier than others, and in sales, we can just look at what people have done the past. I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? Data Domain was really an interesting company. And the whole point of the book is I try to contrast these experiences, like look, they're not the same. We cannot just read our emails and have a few phone conversations and know what's going on. Our headquarters is in Atlanta, Georgia. And over time, we overcame that because we were laser focused on making the product bigger and faster every year. 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. And people would eyeball those reports in those dashboards, and that was sort of the extent of it. We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. This is kind of the pattern that ICE has seen through how different markets have developed, but normally that takes 10 years, whereas actually, it's taken 10 weeks in the auction. Frank Slootman Wiki, Biography, Age, Spouse, Net Worth, Fast Facts 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. Not exactly like a year and a half, he'd been there for seven years. CEO Frank Slootman made $287,990 in salary in 2019. 10 Things You Didn't Know About Frank Slootman - Money Inc They're very safe. 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. 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. When I was considering Snowflake, I told Snowflake, "I will not do this if Mike doesn't come along." One of the worst, worst in the English language for me. And for example, when I joined Unysis, I ended up in a corporate planning role. So, I finally caved, okay. I'm just, I'm fighting that tide. Its a positive outlook for Snowflake, and its a bright signal for investors to really pay attention to this company now before its too late. I mean, I still remember that we were in countries like France, where we had like a $10-million business, which was very small. So, understanding that is really important because obviously, you can't fight it off unless you understand where it's coming from. This is probably the biggest understatement of the year. 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?" 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.. What's the playbook?" It is data operations from the most transactional to the most analytical and everything in between, so. Check out the subtleties of his Wikipedia below. 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. And we feel the consequences of our actions every minute of the day. So, we came up with this war cry that said, "Tape sucks, move on." Yeah, that goes back about mission posture. I'm curious, how that opportunity at Data Domain came to you? I mean, it's hard to believe at this day and age that things were that way back then, but they were. Because you're like, "Oh, this is great. Right? The Frank Lloyd Wright Suite at This Tokyo Hotel Is a Midcentury Modern Right. It will be fine. So, the earlier you show up, the better off you are. And I said, "Why not?" You speak the language, like we do, but there is something different about you." And Mike was still the CEO at ServiceNow at that time. And Brett Favre was that way. Theres no surprise here. 2023 Forbes Media LLC. And it's very much a talent game just like business is. I don't care for any of that. But yeah, aptitude is really about, what are you innately good at? Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career. It wasn't, and the company wasn't failing financially on its growth objectives. And by the way, insurance companies are already pretty data savvy, but every single industry is experiencing these kinds of questions. They're very lonely in their jobs. And we publish the data transparently on our site, so anyone can come and see what actually happened in the auction. Right? 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. All of which is presented solely for informational and educational purposes. Well, the number one bit of advice I would have is make sure you're close to the drive train. Nothing to do with financial targets or growth targets or market capitalization. And in other words, I was already negotiating Mike's package before I had joined ServiceNow. Now, it was actually pretty interesting because this was sort of a forerunner of a data analytics, business intelligence type of company. And in other words, what problems can I solve very quickly versus what is going to take longer to solve. [1] In June 2012, ServiceNow became a publicly-traded company as Frank Slootman led the company through a $210 million IPO. I just have been in the line of fire too long. I mean, Dutch people are incredibly hard driving, no nonsense, can't suffer bullshit type of people. 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. It became very meaningful to them. Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. They also appreciate it. But backup recovery still largely dependent on tape and tape automation technology, so we created a tape. 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. It was an application development and runtime platform to run on both Unix and OSU and Windows all at the same time. They're kind of like whine and bitch all day. Some of Wikitia's pages are sourced from Wikipedia.org's Mainspace and Draftspace. Todays companies all want to achieve exponential growth and according to Frank Slootman, author of a new book for business leaders, every organization has the potential to scale to massive heights. Neither ICE nor its 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, all of which is presented solely for informational and educational purposes. But one of those issues was that taken over from a founder CEO was really, really hard. Okay. And that's exactly what we did. I mean, there's many jobs in companies and some of them are quite far removed. Okay, it's real easy and in engineering, they put guys on the whiteboard and they give them problems. They just said, "Look, let's re-envision, re-imagine based on the platform realities that we now have, which was the Public Cloud. I mean, it was doing well. If it's not related to our core mission, we don't want to hear about it. Correct, correct. Why did you give up the helm of the invisible hand for this new role with Snowflake? What's the silver bullet? Frank Lloyd Wright Home and Studio | Frank Lloyd Wright Trust In a few weeks, when the 2022 winter Olympics get underway in Beijing, I'll have my eyes peeled for 22-year-old, Jutta Leerdam, the reigning world speeds skating champion with over 800,000 followers on Instagram, who's proven herself a trend setter on and off the ice. Frank Slootman - Forbes It's just our nature to talk about problems." I mean, you probably have even a sense of things that you know you're not good at. 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). 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. 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. We were entertainment for Wall Street for a six-week period. 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. 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? 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. Having run a number of global software companies, I appreciate the scope of resources that Blackstone can bring to high-growth . I mean, that's how aligned this is, okay? Welcome, Frank, inside the Ice House. One of the reasons I made it a very transparent discussion is that most people think that when you have these highly successful company, it just happens like poof, beautifully. I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." So, this is not data warehousing, it's just one use case. They've never really been asked that before. I mean, truly retire. You relate well to that way of thinking. The interesting thing about data domain was it was very, very slow going. So in other words, I did not accept the Snowflake role until, Mike said, "I'm coming along.". 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. Amp It Up, published a scant of 13 months after the Rise of the Data Cloud, which you wrote with Steve Hamm. We now use consumption models instead of subscription models. But the world of backup and recovery, was dominated, as you said, by tape automation technologies. That is the most, that is so unproductive. At the same time, that was enormous anxiety about how the company was unfolding. Meaning that we would run something like Tableau on top of Salesforce or whatever. And you can take it or leave it and try it on for size and see if you like it." In other words, "How fast does this might work?" That's not a healthy dynamic. When a company is buying a million dollars from you in the course of a year, what are they getting? Because of his much sought-after expertise, Slootman gets paid a decent sum of money. And obviously that is not the best way to go about things because that's just one man's opinion against another, right? 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. Never seen the inside of an office or anything. But you mentioned this earlier, it isn't really what happened. And when you let it happen, you get feed-ups. What was that? What goes around, comes around and the Dutch get around the world. 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. [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]. Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? Slootman recently spoke at the CNBC. That's a running joke that we always have. Frank Slootman, Snowflake CEO, joins 'Closing Bell: Overtime' to discuss the company as shares slump on weak guidance following Wednesday's earnings report. We tried to, we wanted to get into primary storage. [+] NYSE When Snowflake went public in the largest software IPO of the year on Wednesday,. And you can't play chess pieces in a million different ways, right? But then, there's new platforms in terms of the Public Clouds, right? But for many, many other enterprises, including a lot of banks actually in the world of financial services, because they operate through branches and very conventional brick and mortar ways of interacting with customers, all of a sudden, it has to change rapidly. Snowflake: Not What You May Think It Is - Datanami In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. Episode 280: Snowflake CEO Frank Slootman Wrote the Playbook - the ICE Slootman previously served as CEO for Data Domain and for ServiceNow, which he both took public. It takes nothing. Make it as easy as I could make it. And of course, people chuckled because they recognized it. CEO of year's hottest IPO focuses on one 'incredibly hard' question - CNBC This site uses Akismet to reduce spam. Like, "Yeah, why don't we just throw that guy into that fire and see what he can do with it.". At 61 years old, Slootman has created quite the reputation for himself. It's hard to get off of that. While everything about Snowflake is hot in the market, were left asking who is at the helm of it all. Frank has been involved in the business programming market for over 25 years as a business visionary and chief. You really need to, look at yourself as an asset that can be applied in many, many different ways. But he had also been the CEO of ServiceNow for seven years. Everything in our world starts with technology, starts with architecture, okay? It was super interesting to me, sort of my first encounter with American management. 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. 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. Okay? The nascent liquidity of spot LNG freight markets, and the volatility of time charter rates has boosted demand for risk management tools. It was very formative. Frank Slootman, Chairman and CEO of Snowflake, recently launched a new book called Amp it Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity. He's a Dutchman Slootman moved to Silicon Valley in 1997. It was sort of an adjunct to what they called the computer industry back then. The post 'Summer House' star Danielle Olivera gets emotional talking about Robert . Because the essence of data science is you are trying to discover through historical data what the relationships are in your business. Snowflake CEO Frank Slootman Talks IPO Pop: Narrative Of Lost - Forbes They all do and for a good reason. And then I change myself to become that flavor of CEO. Most people just preside over culture. I actually wanted to retire, truth be told. But you think that your upbringing in the Netherlands gave you a unique perspective on business and success, that's helped you throughout your career? 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. I mean, without the foresight of having read Amp It Up, our listeners might assume that a jump from into software would take you really the rest of the way in your career from your start in Europe, to Indiana, the Midwest, all the way to California. 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. If you want to know more about this CEO, this might be the book to read. I was like, "Jesus, I spent my whole life trying to get here. So not only is this CEO a winner on land; he also dominates the sea with his sailboatpretty impressive on any measure. An in-house cafeteria replaced the usual catered lunch offerings, and sales representatives no longer had free reins on unexplained spending. But it's not what it really is, so it wasn't an enormous surprise to me to come here. 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? They only learn from consequences, so you got to create consequences, good and bad when things happen and things happen all day long. Who is Snowflake CEO Frank Slootman? | The US Sun As I said, what comes around, goes around. Instead, hes got something equally as coola sailing boat named The Invisible Hand. Architecturally, just damn near perfect, so. Now, what that does the weaponizing, what that does is we block everything else out. Yeah, it was a good problem. They just have such a hard time doing it because that's who they are, that's what they live for. 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. And historically, people have tried to answer these questions anecdotally. 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. Some may describe him as direct. 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. I speak with a fat accent and like, "What are we going to do with you, pal?" Buyers and sellers can come together. That's actually another important bit of learning with a lot of people take on CEO roles and they keep doing their last job because that's familiar to them and they love it and they keep doing it. But the essence of what I'm getting when I hire you is what you're innately good at. You have to have data to partial reality, right? The Dutch-born Slootman, who now lives in Montana, has had three hits in a row since 2003: He was made CEO of enterprise storage startup Data Domain and grew it to a $2.4 billion acquisition. 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? And a lot of people shy away from that because it's incredibly high anxiety to live in that world, but you want to suppress that reflex. The 61-year old Dutch executive's first CEO job was at an early-stage startup called Data Domain that made specialized storage hardware. And you mentioned several times in the book that you look for aptitude over experience, does that focus help snowflake identify young talent and how do you measure aptitude? A compensation package he received upon joining Snowflake in April 2019 awards him a. That's really what you want to preserve rather than layers and layers and layers and channels of communication. Sometimes that is hard for American audiences. 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. That is the X factor in companies, but it starts with weaponizing the mission. Where I come from, people are quite resigned to their fate. Quick digression. But it's also, you attack and you cross again. It's lights out, light speed and then fully disintermediated and it's fully programmatic. Creative Commons Attribution-ShareAlike. Slootmans style of leadership is not gentle at all. Volumes have increased and they've pretty much more than doubled, and we've actually nearly tripled the number of participants that we have as well. Here's your host, Josh King of Intercontinental Exchange. And after a while it's like, "Look, I can't do one-on-one meetings with a million people. 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. And all of a sudden, everybody is just high-fiving and doing victory laps and everything is beautiful versus reality is completely different. He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. I mean, it's like when people start to roll their eyes. It's you're in this job for a reason. It was just like Formula 1 of sailboat racing. So, what are things that we should absolutely not ask you to do ever? Everybody has ideas. 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. Helping women become better in negotiation is an urgent and essential task for organizations and individuals. Bachelor of Science, Erasmus University Rotterdam, The Netherlands; Master of Science, Erasmus University Rotterdam, The Netherlands. 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. Frank Slootman - Topp podcast avsnitt And obviously, I got that in spades at UN Royal in Indiana. People that the company really, really runs on. 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. He also scaled the workplace back tremendously from stunning spaces in San Francisco to headquarters in San Mateo. What is the core of your being, right? Learn how your comment data is processed. Another Dutch trend setter with the Winfrey title is Frank Slootman, the chairman and CEO of Snowflake. Snowflake CEO Frank Slootman made headlines with controversial comments about diversity in the workplace. Because now you're buying somebody else's culture. The eight blocks of the street run from Broadway in the west to the East River in the east. So, we're going to be in the middle of that. From Broke To Billionaire: How Fred Luddy Built - Forbes That's awesome. 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. And when you buy companies, it gets worse, right? I'm the opposite. 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. And fortunately, the temperament that is in you, it's going to re-manifest itself sooner or later. And then of course, Michael Dell found just as attractive to bring EMC into Dell. Each week, we feature stories of those who hatch plans, create jobs and harness the engine of capitalism, right here, right now at the NYSE and at ICE's exchanges and clearing houses around the world. I really had to change from being an individual contributor or a small team leader to somebody who runs organizations. It was great and it lasted the entire duration. And our conversation with Frank Slootman on how he amped up his career scaled three companies and the lessons he wants to now share with the world is coming up right after this. It's been extremely successful since we took over. I mean, for example, I remember when we first, got involved with Geico and Todd Combs, the CEO, said, "Look, I don't need any more lectures from you guys on architectural prowess and all this sort of thing."