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 in other words, I was already negotiating Mike's package before I had joined ServiceNow. Tell me about sailing, first of all. He knows what problems exist in his field today, and he knows how to address them as well. 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. This is a very buoyant country. He said, "Because you guys are indicting everything I've done." 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. At the same time, that was enormous anxiety about how the company was unfolding. 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? 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. Whereas in business, it often takes so much longer to be confronted with the consequences of your actions and some people don't-. Yeah, in some areas it's easier than others, and in sales, we can just look at what people have done the past. 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.. Who can solve what set of issues, right? Before that, he spent his life in Netherlands, where he was also born. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. In this technological era, the field of analytics is vital as it makes it easy to access needed information without much of a hassle. I was just shot. Right, you got a good point. 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. Well, the number one bit of advice I would have is make sure you're close to the drive train. Snowflake CEO Frank Slootman Leading for Hypergrowth - YouTube Anybody who's tried to run HP can talk about that because you have companies that have existed for whatever, 50, 100 years, you don't get rid of culture. Frank has been involved in the business programming market for over 25 years as a business visionary and chief. Well, building culture is a very forceful thing. Property details for 3001 W Ruby Hill Dr, located in Pleasanton, California. 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. It takes a ton of work to maintain intense focus on the mission, so that's the weaponizing. 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. Others might say that hes completely brash. Photo by Christie Hemm Klok/The Forbes Collection. And rightfully so, by the way, because they have created something, right?. I can just blow a year on doing some other stuff that's interesting." An in-house cafeteria replaced the usual catered lunch offerings, and sales representatives no longer had free reins on unexplained spending. They've never really been asked that before. It could address very few use cases. We want to bring about something in the world of computing that has never existed before and we are consumed by our mission. Frank Slootman - The Montgomery Summit Back then, there were hardly any software companies around. There are many questions left unanswered about the months leading up to Snowflake going public. 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 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. He's a Dutchman Slootman moved to Silicon Valley in 1997. 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 then obviously, a business that was at a sense of itself, of its product lifecycle, which has its own unique set of challenges. Did you find it difficult to change Snowflake's established culture? Tej, Read More 10 Things You Didnt Know about Tej VirkContinue. You can only sail so much, [crosstalk 00:31:19]. I mean, the problem with backup and recovery is, yeah, you can do backups, but the point of backup is recovery because if I can't find or read tapes, I'm still up the creek without a paddle. From Broke To Billionaire: How Fred Luddy Built - Forbes Every week there was a new bid. That's when you're at risk. 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. 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. It's really every leader in the organization needs to internalize and then, want to act on it. And by the way, the inverse of that is what are you not good at? 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. The IPO was the third for Dutch-born Slootman,. You're finding the best sailors in the world and all of that. So, this is not data warehousing, it's just one use case. What's your advice about someone climbing the corporate ladder looking to make that leap? Snowflake CEO Frank Slootman on moving the needle, win-first - Spotify Software was barely an industry. Snowflake CEO Frank Slootman Profile - Business Insider 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. Snowflake CEO on customer spending, weak guidance, A.I. and the company The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. I mean, I was just in my way of life and I was going to stay there till the end of time. Company still around, by the way. And my email just dribbled down to nothing and all this kind of thing." And Frank, while you were getting your degree from the Netherland School of Economics, you came to the US for an internship with UN Royal and returned after graduating to get a job at Burroughs, which is now Unysis and ticker symbol, UIS. 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." Welcome, Frank, inside the Ice House. And how that allowed him to grow Snowflake into the biggest software IPO ever, and how. This is probably the biggest understatement of the year. And when you let it happen, you get feed-ups. Amp It Up: Snowflake boss pens hands-on CEO toolkit And I've never been able to equal that level of success with a marketing slogan. 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. 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. And everybody was like, "Who's Data Domain? Let's go." That's the point of it. [9] In June 2019, the company launched Snowflake Data Exchange. You guys are a data company, you know as well, right? And that really allowed me to do this at 6:00 AM on weekdays and weekends and the holidays. What was that? But this was quickly set aside because Frank appears to walk the walk. People naturally become very unfocused, very, very easily. That is the most, that is so unproductive. I mean, truly retire. The book accounts his time in Data Domain and so much more. 5. Never heard of that company." Now, I might be a big piece on the chessboard as the CEO of the company, but that's really how you want to think about it. Now, what that does the weaponizing, what that does is we block everything else out. Slootman knows exactly what hes doing. So, I got pestered by VCs over the years, like "When are you going to do an update to your book because you now have two more companies to talk about." 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. But yeah, aptitude is really about, what are you innately good at? 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. Hes quite knowledgeable in the market industry, and he doesnt confuse with unnecessary jargon. Well, you think you're just going to turn it off? That's awesome. And that's all coming up right after this. The pandemic has. It takes nothing. And the term BI had not even been invented back then. Are you just going to look the other way or are you going to call it out? You come with aptitude. I don't have to go work on Monday. Where does a CEO Frank find time to write two books back-to-back and what was the inspiration for Amp It Up? Listen to this episode from This Week in Startups on Spotify. We're going to nuke an entire industry out of existence. It was very formative. Good sales people have a track record. ICE is home to global natural gas markets benchmarks in Henry Hub, MBP, TTF, and JKM. 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. Snowflake now has Frank Slootman as chairman and CEO. Now, you can be very obstinate about it and say, "Well, I'll eventually cross that bridge when I come to it," or you can try to anticipate it and say, "Okay, I'm going to find somebody who has the resources that I do not possess." It's like, "That's not exciting." And it's very rare to create that kind of value. Right? Right? But that is what digital transformation is. I just have been in the line of fire too long. Our European futures operation is based in London, England, and a big part of that operation is futures trading for Dutch Natural Gas at the Title Transfer Facility or TTF, virtual trading point in Amsterdam. And by the way, insurance companies are already pretty data savvy, but every single industry is experiencing these kinds of questions. Some portions of the proceeding conversation may have been edited for the purpose of length or clarity. CEO of year's hottest IPO focuses on one 'incredibly hard' question - CNBC At 61 years old, Slootman has created quite the reputation for himself. 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. They're high anxiety, they're entrepreneurs, they're CEO, and sort of getting a very unvarnished view, inside view from a fellow traveler. It's very hard. 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. You cannot sell your way through a crappy product, okay? You really need to, look at yourself as an asset that can be applied in many, many different ways. Instacart Appoints Frank Slootman, Chairman And CEO Of - Insider Snowflake CEO Frank Slootman is the toast of the big data community, and following the $3.4 billion IPO, a favorite on Wall Street too. What attracted you to the space? 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. Frank Slootman on Leadership and the War Against Mediocrity - ICONIQ You hit a mark, you have to do two 360s. We had this very high profile bidding war between the EMC and NetApp at that time. 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? And people would eyeball those reports in those dashboards, and that was sort of the extent of it. Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? And after a while it's like, "Look, I can't do one-on-one meetings with a million people. And it's very much a talent game just like business is. Frank Slootman has written another book about how to run a business based on his time at Data Domain, ServiceNow, and Snowflake. I always talk about mission posture, which really means having a very, very intense visceral sense of what the company is trying to achieve. And you can't play chess pieces in a million different ways, right? Can you explain how you overcame both to lead the company through its 2012 IPO? But in the end, it's like we have to get into backup software in which we tried. Snowflake Inc. - Wikipedia [1] It's been extremely successful since we took over. In other words, swarm to it instead of distance yourself from it. I mean, all these greats, right? I don't know what, if you go back to those days. Once you start doing that, you need to take yourself out of the game. A compensation package he received upon joining Snowflake in April 2019 awards him a. And in other words, what problems can I solve very quickly versus what is going to take longer to solve. The company is a fintech firm that helps companies automate their deployments with unique software solutions for business. When I was at Data Domain, hell, we were 15 people when I joined there. They did not try to carry technology or ways of thinking forward. This sum is more than what the CEOs of Salesforce, Oracle, and even Microsoft was making. It was super interesting to me, sort of my first encounter with American management. And Brett Favre was that way. How does that work at Snowflake? It's a small country, obviously, which is why they sort of veer far and wide. [23] And for example, when I joined Unysis, I ended up in a corporate planning role. 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. I often refer to those people as passengers and then, they're the drivers. 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. The question is, what are you going to do? Because he was still smarting from the fact that I left ServiceNow and he felt I left him stranded. They just have such a hard time doing it because that's who they are, that's what they live for. Everybody has ideas. But 233 years later, American, Dutch and British interests are inexorably intertwined. 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. And companies that have been around a long time, it's near to impossible to undo the culture. Of these, six were built: the Imperial Hotel and Annex, the Jiyu Gakuen School, the Aisaku Hayashi . Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. Two years later, he was back at it again as chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. Because they can't understand how spending categories can just explode overnight like that. He's a pretty good golfer. What took you back to the Netherlands at one point? And Mike was still the CEO at ServiceNow at that time. Because now, now you're going to look people in the eye, and say, "Look, this is the way we're going to be. I'm like, "We're not trying to indict what you've done. Because that's what it is. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 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. Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. 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. I hate to break it to the audience, but that is the way that it is. Thanks for listening. Slootman applies this philosophy in the workplace as well. I mean, that's how aligned this is, okay? But one of those issues was that taken over from a founder CEO was really, really hard. I really had to change from being an individual contributor or a small team leader to somebody who runs organizations. Slootmans style of leadership is not gentle at all. Today, Slootmans net worth shot up to $1.8 billion because of the Snowflake IPO. Some of Wikitia's pages are sourced from Wikipedia.org's Mainspace and Draftspace. 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. Open main menu Close main menu Home About Us Contact Us States Advanced Search Yeah, there's no doubt. And it's like, "Well, why does that matter?" Our guest today, Frank Slootman is chairman and CEO of Snowflake. Its an impressive feat for the 8-year old software company, but everythings going fast these days anyway.

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