This is very much a country that believes things that other countries don't believe. It's not just a scale. It was the lowest ranking job in the entire world of IT, if you were involved with tape automation. I don't think about what's next. 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? Instead, hes got something equally as coola sailing boat named The Invisible Hand. 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. It was sort of an adjunct to what they called the computer industry back then. No. 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. Right? I mean, that's how I felt at that time, like I had no more to give. And that's all coming up right after this. New competitors, new partner ecosystems, so it was like, "Wow, this is the future." Scale is definitely a problem because you get layers and layers and you got the problem of having tons of passengers on the boat, all these types of issues. 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. 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? 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. Snowflake CEO Frank Slootman Wrote the Playbook on How to Amp It Up This boat actually won Slootman the 2017 Transpac Honolulu Race in 2017. Take our own company, Intercontinental Exchange, for example. By the close of. 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. Including his options, Slootman owns about 10% of Snowflake. The. Some of Wikitia's pages are sourced from Wikipedia.org's Mainspace and Draftspace. Snowflake CEO Slootman Scores IPO Hat Trick With Big Bet on Data Frank Slootman - Chairman and Chief Executive Officer - LinkedIn Hes quite knowledgeable in the market industry, and he doesnt confuse with unnecessary jargon. And by the way, the inverse of that is what are you not good at? It was doubling. But your culture is the only thing that's really unique to you and everything else is up for grab for anybody else. And in other words, what problems can I solve very quickly versus what is going to take longer to solve. Read More 10 Things You Didnt Know About Paul StovellContinue. 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. Because they can't understand how spending categories can just explode overnight like that. In this technological era, the field of analytics is vital as it makes it easy to access needed information without much of a hassle. 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. The company is a fintech firm that helps companies automate their deployments with unique software solutions for business. That's really what you want to preserve rather than layers and layers and layers and channels of communication. We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. We actually won everything that we wanted to win. Because, and this is another important observation, I think. So it's a very important question because if I hire you, I can get you experience every day at the week. And I said, "Why not?" I mean, it gets rid of you. 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. Frank Slootman currently serves as Chairman and CEO at Snowflake. That's where we're at right now. I mean, there's many jobs in companies and some of them are quite far removed. And Mike, he takes on the end entire spectrum of controls and administration. He said, "Because you guys are indicting everything I've done." 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. So not only is this CEO a winner on land; he also dominates the sea with his sailboatpretty impressive on any measure. 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. I just have been in the line of fire too long. I was a huge fan coming here. And of course, the appetite is insatiable for both technology and people that know how to make this future happen. 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. Never heard of that company." A term that gets used a little bit too much in too many places. But he had also been the CEO of ServiceNow for seven years. We cannot just read our emails and have a few phone conversations and know what's going on. Those are just markets, but culture is how you get up in the morning and how you prosecute your day, so it is a huge deal. Who is Snowflake CEO Frank Slootman? | The US Sun But if you're performing at Tom Brady's level, you have no reason to step aside. 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's been extremely successful since we took over. From Broke To Billionaire: How Fred Luddy Built - Forbes 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 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. 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. I can't get you aptitude. Mar 11, 2021, 11:30 ET. He's a pretty good golfer. Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. Our guest today, Frank Slootman is chairman and CEO of Snowflake. The New York stock exchange sits at the Southern tip of Manhattan on the corner of Wall and Broad Streets. 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? What attracted you to the space? Better, better all the time. 5.9% of any company is a huge deal. 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? They sold the living hell out of that product. Thanks for listening. I mean, we lived in absolute terror. I mean, it's a hell of a cash burner as well. It becomes the beating heart of a modern enterprise. And like, "How fast does this guy type?" It takes nothing. If there were one person you could sit and learn from today, who would it be? 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. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. And by the way, insurance companies are already pretty data savvy, but every single industry is experiencing these kinds of questions. They knew exactly what we meant. Having run a number of global software companies, I appreciate the scope of resources that Blackstone can bring to high-growth . Snowflake CEO collects a $95 million payout every month Correct, correct. 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). 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 obviously, I got that in spades at UN Royal in Indiana. The liberalization of LNG is creating a global natural gas market, with freight acting as a virtual pipeline between continents. And Brett Favre was that way. How does having who's worked closely with you for years help you accomplish your goals of hyper growth without losing focus? 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. So, we came out there and we said, "Look, no, we're not just going to sell a product here. Frank, you write about trying to convert your experience, taking on the hard problems of your employer, into making a path to the C-Suite. Like, "Yeah, why don't we just throw that guy into that fire and see what he can do with it.". 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?" And the reason that I found it so interesting is technology was mesmerizing. Our guest was Frank Slootman, the Chairman and CEO of Snowflake. Fred Luddy, the founder of ServiceNow, I mean, super talented guy, obviously. 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. These days, a lot of folks take it for granted, but Wall Street has a fascinating history. And it wasn't charged for, so companies just couldn't build software because it was just given away. Everything in our world starts with technology, starts with architecture, okay? That takes very different approaches, orientation, skill sets, and so on what you do. So, I finally caved, okay. Museum Shop Hours: 9:30 am - 5 pm daily; 9:30 am - 4 pm in January and February. Frank Slootman, Snowflake CEO, joins 'Closing Bell: Overtime' to discuss the company as shares slump on weak guidance following Wednesday's earnings report. Snowflake CEO Frank Slootman Leading for Hypergrowth - YouTube 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. 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. But we didn't have the market capital resources to do that. Yeah, there's no doubt. Slootman previously served as CEO for Data Domain and for ServiceNow, which he both took public. 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. If it's not related to our core mission, we don't want to hear about it. But backup recovery still largely dependent on tape and tape automation technology, so we created a tape. In any successful company just ask them, they will attribute success to their culture. It was great and it lasted the entire duration. I often refer to those people as passengers and then, they're the drivers. And that's the American flavor and flare that has built up over three, almost four decades. 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? 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. 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. Well, that's another thing I don't think about that. Well, the number one bit of advice I would have is make sure you're close to the drive train. Because now you're buying somebody else's culture. He says, "If I have a problem in a state like Florida, where bodily injury claims are disproportionate to surrounding states, what explains that? And of course, people chuckled because they recognized it. But the problem with tape was, I mean, tape got lost, tape became unreadable. Closed: Thanksgiving, Christmas Eve, Christmas and New Year's Day. They want to know what bad behavior is. 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. And by the way, for most people, that's a very difficult question. 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 you need to have the flexibility of mind to really deploy yourself. I mean, we had like 15X, the X of the next nearest competitor. Because that's what it is. Snowflake is the third company Frank has taken public, and the lessons that shaped his career are part of his new book Amp It Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. So, I did. And then my career thrived as each sort of, it veered just taking on jobs that nobody else would take, in other words. Frank Slootman has written another book about how to run a business based on his time at Data Domain, ServiceNow, and Snowflake. Snowflake CEO Frank Slootman: How To Boost Growth And Drive Meaningful 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. And when you let it happen, you get feed-ups. So as leaders, you very much, I try, no matter how big this company gets, I try to run it like a popsicle stand where we're driving a race boat around the race course, okay. And then being able to talk about it in an intelligent, really rich-considered manner. Some may describe him as direct. 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. [1] I need to know what that is. I was like, "Jesus, I spent my whole life trying to get here. Okay, it's real easy and in engineering, they put guys on the whiteboard and they give them problems. So, one of the things that, that our founders did really, really well and it's a very important lesson here for anybody that's watching Snowflake and trying to understand is that they took a clean sheet of paper. And that is our culture. And having incredible meaning and potency and yield value for applications you never imagined. And it's like, "Well, why does that matter?" When I was at ServiceNow, Fred Luddy, the founder, he said to me, at one point, "I really don't want to come to the staff meetings anymore." The Frank Lloyd Wright (R) Suite will be accepting bookings from January 24, 2023, through March 31, 2024. . Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. I only think about now and what I'm doing today. Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? Frank Horvat helped elevate fashion photography into high art, and with his thoughtful photographs, changed how we look at fashion altogether. Now, most organizations are incredibly in up still in terms of their data promise. CEO Frank Slootman (second row, fourth from left) and the Snowflake team virtually rang the opening . In other words, wants to call it out, wants to prosecute it because you can see good behavior, bad behavior around you all day long. But you dont achieve a $1.8 billion net worth by being a spendthrift. Slootman is going to take Snowflake for quite the ride, and you have to decide whether youre getting in his car or not. He cancelled the luxurious annual employee ski trip to Tahoe. Another Dutch trend setter with the Winfrey title is Frank Slootman, the chairman and CEO of Snowflake. Snowflake CEO Frank Slootman on moving the needle, win-first - Spotify Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 So, we won a lot of outraces. BUILDINGS. Strong personalities will just dictate culture in certain business units, in certain geographies and so on. Snowflake CEO Slootman Scores IPO Hat Trick With Big Bet on Data Software company aims to benefit from companies increasingly storing information in multiple clouds Big tech firms are investing. An in-house cafeteria replaced the usual catered lunch offerings, and sales representatives no longer had free reins on unexplained spending. We played a round of golf. And there were many, many players in that segment, by the way. Before accepting the Snowflake CEO job, Slootman was retired and racing sailboats competitively in the San Francisco Bay Area. 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. In Amp It Up, Frank, you say that a company's mission really has to be weaponized. 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. Okay? Snowflake is Slootmans third IPO. What's your advice about someone climbing the corporate ladder looking to make that leap? We are people that basically see everything that's wrong all day, and we always see a room up from where things are. It's up to 79% of the volume has gone cleared. Are you just going to look the other way or are you going to call it out? We were entertainment for Wall Street for a six-week period. 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. 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. 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. We're always picking at things that could be better. Bachelor of Science, Erasmus University Rotterdam, The Netherlands; Master of Science, Erasmus University Rotterdam, The Netherlands. Here's your host, Josh King of Intercontinental Exchange. 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. Well, you think you're just going to turn it off? We were going to do the world of favor.". Yeah, that goes back about mission posture. The ecommerce industry is one of the fastest-growing sectors, and at the moment, it features several players. [23] You could have a meeting in the hallway with the entire company. So I've been very different from early days of Data Domain, later days of Data Domain, early days of ServiceNow. Whatever he learned from school is probably what we should all learn. One company that embodies this vision is ThoughtSpot, an analytics company. It's very hard. Snowflake CEO on customer spending, weak guidance, A.I. and the company And that's a whole different deal. What's the playbook?" But yeah, where the inspiration comes from, we've had three very successful companies in a row, so you get barraged by requests for, "Hey, can you explain to us what the secret sauce is? They're kind of like whine and bitch all day. And Mike was still the CEO at ServiceNow at that time. And then Snowflake is again, a totally different. SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- Instacart, the leading online grocery platform in North America, today announced that Frank Slootman, Chairman and Chief . Snowflake CEO Frank Slootman Profile - Business Insider CEO Outlook | Frank Slootman - KPMG Global 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. Investors know this about us. The post 'Summer House' star Danielle Olivera gets emotional talking about Robert . Let me bring you back 10 years to 2012, Benoit Dageville, Thierry Cruanes, and Marcin ukowski started Snowflake as the secret name of the startup they were working on during that particularly hot summer. Slootman may be someone you wouldnt be comfortable sitting face-to-face with, but hes definitely someone you can listen to in a room full of people. Episode 280: Snowflake CEO Frank Slootman Wrote the Playbook - the ICE Tour Hours: 10 am - 4 pm daily; 10 am - 3 pm in January and February. Growth opportunities abound, but what many owners of startups may not realize is that choosing a bank with sector expertise to complement your business needs is more important than ever. How does that work at Snowflake? Did you always have your eyes set on a career in the US? We will talk to you next week. Between 2011 and 2017, Slootman was Chairman and CEO of ServiceNow - one of the world's leading SaaS . I can't do every speaking engagement," et cetera. You could eject the tape from a tape drive and you could ship it off site. I hate that. In other words, you got to really mean it, okay? But eventually, I returned to Holland about a year later, resumed my education. And by the way, data is going to, some people have referred to it as a new currency to new oil, whatever you want to call it, but. But EMC prevailed. This sum is more than what the CEOs of Salesforce, Oracle, and even Microsoft was making. 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. Did you find it difficult to change Snowflake's established culture? CEO of year's hottest IPO focuses on one 'incredibly hard' question - CNBC And companies that have been around a long time, it's near to impossible to undo the culture. 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. Company still around, by the way. Four banks would travel to a room next to the Bank of England twice a day in order to run an auction verbally. As we're recording this in early 2022, the competition for talent has reached a boiling point. What was that? Amp It Up, published a scant of 13 months after the Rise of the Data Cloud, which you wrote with Steve Hamm. By the close of. This article "Frank Slootman" is from Wikipedia. It's like it's full of feedback. If you like what you heard, please rate us on iTunes, so other folks know where to find us. They always have a twinkle in their eye and they're going to do this, they're going to do that. Right? VCs have entered the debate on Snowflake CEO Frank Slootman's comments I think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. And after a while it's like, "Look, I can't do one-on-one meetings with a million people. You want to be that person, okay? And I had already made a little bit of a name for myself in the company. 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. This page was last edited on 12 March 2021, at 18:12. 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. So now, we're having business conversations about data. So, you need to create a platform that allows data to be enriched and be joined and be blended and be overlaid in ways that data scientist only have insight into. How Snowflake CEO Frank Slootman became a billionaire by ripping up the That culture really keeps you safe from being indulgent or just, you're sort of presiding. Now, you can manage LNG freight risk with ICE LNG freight futures contracts, which join our global natural gas complex. Frank Slootman on Leadership and the War Against Mediocrity - ICONIQ Meaning that we would run something like Tableau on top of Salesforce or whatever. So in hindsight, I understood that I was just burned out, classic burned out. That is how you energize companies. When I was interviewing with ServiceNow, I said to the board, "I want to bring Mike along." Learn how your comment data is processed. And then I change myself to become that flavor of CEO. Look, I'm not a certain type of CEO. And people would eyeball those reports in those dashboards, and that was sort of the extent of it. You just get into this cycle where all you want to do is leave. 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. 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. But this whole Snowflake exercise could have turned out dramatically different, the CEO says, if the founders had pursued their original premise for what the company should be. And the whole point of the book is I try to contrast these experiences, like look, they're not the same. And you can't play chess pieces in a million different ways, right? Yeah. 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. Because the essence of data science is you are trying to discover through historical data what the relationships are in your business. We're driving change. Okay. Frank Lloyd Wright's Buildings in Japan