It becomes the beating heart of a modern enterprise. After joining almost at the start in 2003, Slootman helped. BUILDINGS. I don't know what, if you go back to those days. But then again, there really is only one Frank Slootman, IPO master in the world. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. And opinions, everybody's got one, but data doesn't lie. [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]. And that's all coming up right after this. Slootman has become somewhat of a business hero for many people, myself included. And rightfully so, by the way, because they have created something, right?. And the product was insanely fast, completely automated. And I've never been able to equal that level of success with a marketing slogan. 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. So, this is not data warehousing, it's just one use case. It became very meaningful to them. Before that, he spent his life in Netherlands, where he was also born. 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. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace. I actually wanted to retire, truth be told. It could address very few use cases. Cloud-data warehouse Snowflake has been the talk of the town since it announced its intention of going public. Software was barely an industry. And I'm like, "You know what? Snowflake, while not yet generating $1 billion in annual revenue, leaped into the Cloud Wars Top 10 several months ago and . I mean, you're not going to get excited, "Well, we want to grow 100% this year." 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. Yeah, there's no doubt. Welcome back. Four banks would travel to a room next to the Bank of England twice a day in order to run an auction verbally. The dream drivers that have made the NYSE an indispensable institution of global growth for over 225 years. 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. We actually won everything that we wanted to win. I mean, you probably have even a sense of things that you know you're not good at. And he and I have very short conversations because by the time we start asking the question, we already know what the answer is type of thing. I only think about now and what I'm doing today. 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. He also scaled the workplace back tremendously from stunning spaces in San Francisco to headquarters in San Mateo. 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, 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. JP Morgan paid $175 million for a startup it believes it was conned into buying. The Frank Lloyd Wright (R) Suite will be accepting bookings from January 24, 2023, through March 31, 2024. . At the same time, I ended up in conversations with the lead director and investor at Snowflake. 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. That's really what you want to preserve rather than layers and layers and layers and channels of communication. You need to sort your issues into, "What am I going to focus on?" 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? At 61 years old, Slootman has created quite the reputation for himself. Quick digression. And people are, are mesmerized by Snowflake results because they don't quite understand, where is this coming from? 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. And then, I had another internship after that. Now, amid an ongoing legal battle, its got to clean up a very public mess. Frank Slootman is the CEO of Snowflake, a cloud-based dataset organization he helped build in 2019. So I've been very different from early days of Data Domain, later days of Data Domain, early days of ServiceNow. I'm curious, how that opportunity at Data Domain came to you? Having run a number of global software companies, I appreciate the scope of resources that Blackstone can bring to high-growth . Today, Slootmans net worth shot up to $1.8 billion because of the Snowflake IPO. 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. And people would eyeball those reports in those dashboards, and that was sort of the extent of it. And it's like, "Well, why does that matter?" I'm just, I'm fighting that tide. It's not that easy. And you had literally physical media that could logistically manage. Well, that's another thing I don't think about that. And I had already made a little bit of a name for myself in the company. Right? I can just blow a year on doing some other stuff that's interesting." 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. Tell me about sailing, first of all. Right. The New York stock exchange sits at the Southern tip of Manhattan on the corner of Wall and Broad Streets. A decade after his death, fantasy artist Frank Frazetta still towers over the pop culture landscape as new fans discover his work. How does that work at Snowflake? They're very safe. So, I ended up going back to, I really didn't want to. [2], In May 2019, Frank Slootman joined Snowflake Inc. as its CEO. I mean, you brought in some reinforcements when you started at Snowflake, including Michael Scarpelli, who was your CFO at Data Domain and ServiceNow. If you like what you heard, please rate us on iTunes, so other folks know where to find us. This sum is more than what the CEOs of Salesforce, Oracle, and even Microsoft was making. 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. One of the worst, worst in the English language for me. 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. And it wasn't charged for, so companies just couldn't build software because it was just given away. Thanks for listening. In other words, you got to really mean it, okay? The founder brings you in to scale up the company, but finds it difficult to step aside. What you're doing now is doing pretty good, so keep yourself in the game, Frank. And how that allowed him to grow Snowflake into the biggest software IPO ever, and how. 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. 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? 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. What took you back to the Netherlands at one point? Its an impressive feat for the 8-year old software company, but everythings going fast these days anyway. Perhaps thats exactly the kind of leadership that gets a million-dollar business into the realm of billions. What goes around, comes around and the Dutch get around the world. Obviously, I was a young man and not even in my mid-30s and I'm taking over a whole business, a whole organization, global, all this kind of stuff, so, it was a hell of. Right, you got a good point. He was saying during the pandemic, he's like demand was up 60% over here, down 100% over there. It's a small country, obviously, which is why they sort of veer far and wide. Property details for 3001 W Ruby Hill Dr, located in Pleasanton, California. Right? Closed: Thanksgiving, Christmas Eve, Christmas and New Year's Day. But predictably, we already talked about Dutch culture, that relationship between the American parent and the Dutch subsidiary didn't go so well. Investors know this about us. Now, we're going to go move the pieces and I'm just a piece on the chessboard." This is a very buoyant country. 5.9% of any company is a huge deal. That is the X factor in companies, but it starts with weaponizing the mission. And then my career thrived as each sort of, it veered just taking on jobs that nobody else would take, in other words. 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. None of that stuff is material to your mission. This site uses Akismet to reduce spam. 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. And that's a whole different deal. 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. And you need to have the flexibility of mind to really deploy yourself. They're very well dialed into it. What's the silver bullet? And it's very much a talent game just like business is. Because now you're buying somebody else's culture. Right? 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. What's your advice about someone climbing the corporate ladder looking to make that leap? We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. This page was last edited on 12 March 2021, at 18:12. While most CEOs 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. Give me that train wreck. Presiding is the worst word. Steve Jobs didnt even own 1% of Appleeven though he had millions worth in shares. 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.. And Mike was still the CEO at ServiceNow at that time. But it's also, you attack and you cross again. That's why they're big in banking and insurance and distribution and logistics. As the gold auction and also, the LBMA gold price is the world's price for gold, particularly gold, which is delivered in London. Now, as the story goes, England followed the Netherlands in control of Manhattan. But the world of backup and recovery, was dominated, as you said, by tape automation technologies. He's a Dutchman Slootman moved to Silicon Valley in 1997. We'll do something good with it. I'm the opposite. Yeah, in some areas it's easier than others, and in sales, we can just look at what people have done the past. And that is a common thread through all our companies. It's just, it's hard not to be acquainted at some level with that culture. 951 Chicago Ave., Oak Park, IL 60302. 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. 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. 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. We're two sides of a coin, which is a reason why we've shown up in so many companies together. Now, tape technologies go all the way back to the early days of computing, because that was the form of magnetic storage that we had. In the Dutchman Frank Slootman, a non-coddling, no-nonsense executive who had taken Data Domain public before selling it to EMC, Leone saw "a match made . When you run companies, you need to narrow the plane of attack very, very quickly. Who can solve what set of issues, right? Okay? Okay, it's real easy and in engineering, they put guys on the whiteboard and they give them problems. Yeah, that goes back about mission posture. Everybody has access to talent. It is data operations from the most transactional to the most analytical and everything in between, so. Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. Slootman previously served as CEO for Data Domain and for ServiceNow, which he both took public. Windows 3.1 didn't even exist. Whatever he learned from school is probably what we should all learn. I mean, truly retire. welcome back! 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? 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 . And then Snowflake is again, a totally different. Amp It Up, published a scant of 13 months after the Rise of the Data Cloud, which you wrote with Steve Hamm. I mean, I was just in my way of life and I was going to stay there till the end of time. You've said that you were really born in the wrong country. 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. Data has no opinion. We were going to do the world of favor.". We're going to nuke an entire industry out of existence. In 2011, you joined ServiceNow, a name that's really quite familiar to our listeners where you were confronted by that old conundrum of the CEO founder that we've discussed on this podcast before. Meaning that we would run something like Tableau on top of Salesforce or whatever. We don't preside, okay? When I was interviewing with ServiceNow, I said to the board, "I want to bring Mike along." CEO Frank Slootman told CNBC in January that after the Covid-19 outbreak forced people to work from home, it became clear that the old way of working wasn't going to return. And it wasn't until the consent degree with IBM that really unbundled the software from hardware because software industry couldn't even happen because software was bundled. It's lights out, light speed and then fully disintermediated and it's fully programmatic. 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. You guys are a data company, you know as well, right? We had this very high profile bidding war between the EMC and NetApp at that time. I don't care for any of that. Because you're like, "Oh, this is great. So, I did. 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. And we introduced a centrally cleared model with ICE as the central counterparty, because that makes it much easier for new firms to join. There's new business models. But it's not what it really is, so it wasn't an enormous surprise to me to come here. I'm buying aptitude and then I'm going to develop that with experience, right? Listen to this episode from This Week in Startups on Spotify. So, it's the story, what goes around, comes around, as I said at the beginning. Did you find it difficult to change Snowflake's established culture? You can only sail so much, [crosstalk 00:31:19]. 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. Sometimes that is hard for American audiences. People were looking at my credentials. 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 it worked like that for about a hundred years. So, it just started to happen, but I wanted to desperately be in software at that time. It takes nothing. You cannot sell your way through a crappy product, okay? Frank Slootman currently serves as Chairman and CEO at Snowflake. Where I come from, people are quite resigned to their fate. I mean, that's how I felt at that time, like I had no more to give. Buyers and sellers can come together. Frank Slootman has written another book about how to run a business based on his time at Data Domain, ServiceNow, and Snowflake. 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. I look at the situation, "What does this require?" 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. 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. It wasn't, and the company wasn't failing financially on its growth objectives. 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. Yeah, yeah. 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. I mean, that's how aligned this is, okay? His company's listing here at the NYC in September 2020 was the largest software IPO in the history of the US capital markets. From the library of the New York Stock Exchange, at the corner of Wall and Broad Streets in New York City, you're inside the ICE House, our podcast from Intercontinental Exchange on markets, leadership and vision in global business. Correct, correct. Its none other than CEO Frank Slootman, and here are 10 things about the guy behind the current Snowflake craze. There's no doubt that the successes that we have had, our function of the combination of our respective orientations in how we come at the world. Frank Slootman added: " I'm excited to advise Blackstone. 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. Back then, there were hardly any software companies around. 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. The scramble isnt over, and many who missed the opening also missed on the double growth just off the gate. But they do because the world is changing to digital and this is the essence of digital transformation. 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. It was very formative. 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. That's awesome. And I was like completely taken aback because there not a single thread thinking about that, considering that, considering any role of any sorts. Better, better all the time. They're kind of like-. And everybody was like, "Who's Data Domain? Well, that's because historically all we did was we did analytics in silo. You relate well to that way of thinking. And like, "How fast does this guy type?" You could have a meeting in the hallway with the entire company. 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 like, "Look, I'm not going to be doing the same races over and over again." They all do and for a good reason. 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. Right? And then obviously, a business that was at a sense of itself, of its product lifecycle, which has its own unique set of challenges. Paul Stovell is an Australian businessman and entrepreneur who serves as the current CEO of Octopus Deploy. Our guest today, Frank Slootman is chairman and CEO of Snowflake. Everything in our world starts with technology, starts with architecture, okay? Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language. And when you buy companies, it gets worse, right? I really had to change from being an individual contributor or a small team leader to somebody who runs organizations. The nascent liquidity of spot LNG freight markets, and the volatility of time charter rates has boosted demand for risk management tools. A compensation package he received upon joining Snowflake in April 2019 awards him a. You arrived at something like tape sucks. And I said, "Why not?" But as I got into retirement, the whole experience of retirement changes in the beginning, it's very euphoric, right? We're always picking at things that could be better. 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. I mean, anecdotal observation has pretty much run its course. 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. [+] NYSE When Snowflake went public in the largest software IPO of the year on Wednesday,. I mean, we have bumper stickers and people would at trade shows would stick them on tape libraries. He said, "Because you guys are indicting everything I've done." 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. 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. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. And that's the American flavor and flare that has built up over three, almost four decades. the internship sort of came about because I was about a year ahead of schedule at the university. And then I change myself to become that flavor of CEO. 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. They just have such a hard time doing it because that's who they are, that's what they live for. In the book, I go on and on about what some of those issues are. Now, for us, it's a data Cloud. It's really every leader in the organization needs to internalize and then, want to act on it. By the way, everything he did had to be insanely great because he just couldn't get out of bed if it wasn't insanely great. And if I can't predict it, I can't change my policy, I can't change my pricing." 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. 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. The ambitions that happen, the boldness that happens as a result of that, that becomes the magic. It was great and it lasted the entire duration. I hate that. 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 mean, all these greats, right? Well, you think you're just going to turn it off? 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. Others might say that hes completely brash. 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.

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