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Snowflake Appoints Frank Slootman as Chairman and CEO It wasn't, and the company wasn't failing financially on its growth objectives. He also scaled the workplace back tremendously from stunning spaces in San Francisco to headquarters in San Mateo. And that's all coming up right after this. 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. Mar 11, 2021, 11:30 ET. 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." But yeah, aptitude is really about, what are you innately good at? 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. Who is Snowflake CEO Frank Slootman? | The US Sun You hit a mark, you have to do two 360s. Never heard of that company." So, because we all have our that's sell of awareness. They sold the living hell out of that product. [22] In September 2019, it was ranked first on LinkedIn 's 2019 U.S. list of Top Startups. So after a while, it's like, "Okay, we've done enough of this." When I was interviewing with ServiceNow, I said to the board, "I want to bring Mike along." After all, he has experience on his side. That takes very different approaches, orientation, skill sets, and so on what you do. And in other words, what problems can I solve very quickly versus what is going to take longer to solve. Well, that's because historically all we did was we did analytics in silo. I mean, anecdotal observation has pretty much run its course. A lot of people think that that's possible, but there's a real limit to what salespeople can and can't do. Nothing to do with financial targets or growth targets or market capitalization. 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. Right? The information contained in this podcast was obtained in part from publicly available sources and not independently verified, neither ICE nor is affiliates, make any representations or warranties, express or implied as to the accuracy or completeness of the information and do not sponsor, approve or endorse any of the content herein. It was originally known in Dutch as de Waalstraat when it was part of new Amsterdam in the 17th Century, an actual wall existed on the street from 1685 to 1699, protecting the early entrepreneurs and fur traders of Fort Amsterdam from encroachment from the north. No, I didn't. Snowflake, while not yet generating $1 billion in annual revenue, leaped into the Cloud Wars Top 10 several months ago and . They're very far removed from the drive train. 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. So in other words, I did not accept the Snowflake role until, Mike said, "I'm coming along.". Slootman said diversity comes second when making . It was an application development and runtime platform to run on both Unix and OSU and Windows all at the same time. 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. It was very formative. And it worked like that for about a hundred years. There's no doubt, I'm a total hybrid here. 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?" What kind of people fail here and why?" Get the world to sort of move onto a different technology platforms, et cetera. 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 was just like Formula 1 of sailboat racing. Never seen the inside of an office or anything. Frank Slootman has written another book about how to run a business based on his time at Data Domain, ServiceNow, and Snowflake. I'm curious, how that opportunity at Data Domain came to you? Right? You want to be that person, okay? Right? Snowflake CEO Frank Slootman on moving the needle, win-first culture & managing burnout | E1689. Data Domain went public in 2007, but two years later acquired by EMC, in my home state of Massachusetts. 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. 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 by the way, I have to have that around me, because I don't like people that want to self-congratulate and do victory laps all day. I hate that. In any successful company just ask them, they will attribute success to their culture. And that went on literally for years, okay? And by the way, insurance companies are already pretty data savvy, but every single industry is experiencing these kinds of questions. Read More 10 Things You Didnt Know About Paul StovellContinue. [1] In June 2012, ServiceNow became a publicly-traded company as Frank Slootman led the company through a $210 million IPO. 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. 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's lights out, light speed and then fully disintermediated and it's fully programmatic. Snowflake CEO Frank Slootman Shares Secrets of Unrivaled Success in 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." 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. But what is so great about it is, I mean, the starts are incredibly exciting and that takes enormous amount of drilling to become really good at starts because it's a tightly, tightly coordinated process and you have to become good at it. 951 Chicago Ave., Oak Park, IL 60302. 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. That culture really keeps you safe from being indulgent or just, you're sort of presiding. And now, welcome inside the ICE House. As I said, what comes around, goes around. I'm a proud US citizen, but at the same time, there's no negating my Dutch roots. I mean, if you look historically at what platforms like ours have done, there is no relationship to the past with what Snowflake is doing now. And he and I were serving on another board together and every time we we'd go to our quarterly board meetings, we'd have lunch and discuss the state of a affairs in the world and blah, blah, blah, sort of thing people do in Silicon Valley. And everybody was like, "Who's Data Domain? When you run companies, you need to narrow the plane of attack very, very quickly. Frank Slootman currently serves as Chairman and CEO at Snowflake. At the same time, that was enormous anxiety about how the company was unfolding. 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? Career In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. And I was like completely taken aback because there not a single thread thinking about that, considering that, considering any role of any sorts. If it's not related to our core mission, we don't want to hear about it. Steve Jobs didnt even own 1% of Appleeven though he had millions worth in shares. The post 'Summer House' star Danielle Olivera gets emotional talking about Robert . But they do because the world is changing to digital and this is the essence of digital transformation. 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. That's the point of it. So, we started to wind down a little bit. And that is our culture. Investors know this about us. So, I ended up going back to, I really didn't want to. 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. Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. Tej, Read More 10 Things You Didnt Know about Tej VirkContinue. Whereas in business, it often takes so much longer to be confronted with the consequences of your actions and some people don't-. This sum is more than what the CEOs of Salesforce, Oracle, and even Microsoft was making. Yeah. CEO Frank Slootman made $287,990 in salary in 2019. I always tell my own people, "Look, I'm a piece on the chessboard, okay? Early days of ServiceNow was just jungle fighting. What's the playbook?" Snowflake IPO: Everything you need to know | Fortune You could eject the tape from a tape drive and you could ship it off site. And it's not just bad behavior, it's also good behavior. The eight blocks of the street run from Broadway in the west to the East River in the east. And are there any particular secrets to building a consensus around the idea of change? I mean, Dutch people are incredibly hard driving, no nonsense, can't suffer bullshit type of people. Snowflake chairman and CEO Frank Slootman on leadership and the war against mediocrity February 23, 2022 "Leading for unprecedented growth means declaring war on mediocrity, breaking the status quo, and making conflicted choices daily, all with a relentless focus on the mission," says Frank Slootman , chairman and CEO of Snowflake, one of . I mean, the results speak for themselves. I don't have to go work on Monday. The ambitions that happen, the boldness that happens as a result of that, that becomes the magic. [+] NYSE When Snowflake went public in the largest software IPO of the year on Wednesday,. Amping it up with Snowflake CEO Frank Slootman - SiliconANGLE In other words, "How fast does this might work?" In Amp It Up, Frank, you say that a company's mission really has to be weaponized. And then Snowflake is again, a totally different. IBA took over the auction in 2015 and we moved it to an electronic auction and on the web ICE platform, so it's fully audited to proper electronic liquidity window of market. But then, you go like, "Oh, this is the rest of my life." Frank, how did those early experiences rising through the ranks and being sent from problem to problem help you establish the principles for success that your career would see? I always become the CEO that the situation mandates and dictates. 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 . Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? 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. Yeah, yeah. Yeah. The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. 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. the internship sort of came about because I was about a year ahead of schedule at the university. 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. It became very meaningful to them. 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. We're two sides of a coin, which is a reason why we've shown up in so many companies together. 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 come with aptitude. Our guest was Frank Slootman, the Chairman and CEO of Snowflake. Four banks would travel to a room next to the Bank of England twice a day in order to run an auction verbally. I was like, "Jesus, I spent my whole life trying to get here. And then my career thrived as each sort of, it veered just taking on jobs that nobody else would take, in other words. 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 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. Check out the subtleties of his Wikipedia below. But if you're performing at Tom Brady's level, you have no reason to step aside. Slootman has become somewhat of a business hero for many people, myself included. Listen to this episode from This Week in Startups on Spotify. There's new business models. So like, "Look, I'm not going to be doing the same races over and over again." Most people just preside over culture. So, it just started to happen, but I wanted to desperately be in software at that time. They knew exactly what we meant. Everybody has ideas. We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. JP Morgan paid $175 million for a startup it believes it was conned into buying. We're going to nuke an entire industry out of existence. Our guest today, Frank Slootman is chairman and CEO of Snowflake. Snowflake CEO Frank Slootman Wrote the Playbook on How to Amp It Up But backup recovery still largely dependent on tape and tape automation technology, so we created a tape. 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. And by the way, data platforms have been extremely fragmented historically. You relate well to that way of thinking. 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. 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? I don't know if you've watched any of the first couple seasons of Ted Lasso, but on a team of great characters, the Dutchman is the one guy, straight faced, no bullshit throughout the whole game. I speak with a fat accent and like, "What are we going to do with you, pal?" Don't typecast yourself." Phone: 312.994.4000. 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. 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. It was super interesting to me, sort of my first encounter with American management. And if I can't predict it, I can't change my policy, I can't change my pricing." We just never backed off of it. Frank Slootman is the CEO of Snowflake, a cloud-based dataset organization he helped build in 2019. And that's a whole different deal. Because of his much sought-after expertise, Slootman gets paid a decent sum of money. Slootman recently spoke at the CNBC. Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. Snowflake CEO Frank Slootman Profile - Business Insider It's very hard. And we were babes in the wood back then. 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. I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? Because the essence of data science is you are trying to discover through historical data what the relationships are in your business. SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- Instacart, the leading online grocery platform in North America, today announced that Frank Slootman, Chairman and Chief Executive Officer of . People that the company really, really runs on. The Last Of Us offers up its best episode yet, though this one diverges from the source material much more than the previous two. Right? I hate to break it to the audience, but that is the way that it is. 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. This is very much a country that believes things that other countries don't believe. The pandemic has. 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. to keep connected with us, please login with your personal info. Between 2011 and 2017, Slootman was Chairman and CEO of ServiceNow - one of the world's leading SaaS . 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? 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? Strong personalities will just dictate culture in certain business units, in certain geographies and so on. I remember having a conversation with the CEO of a very large healthcare company. He's a Dutchman Slootman moved to Silicon Valley in 1997. I often refer to those people as passengers and then, they're the drivers. Now, we're going to go move the pieces and I'm just a piece on the chessboard." And, how do you design single best data operations platform you possibly can?". He knows what problems exist in his field today, and he knows how to address them as well. But we didn't have the market capital resources to do that. I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." But eventually, I returned to Holland about a year later, resumed my education. Mr. Slootman served as CEO and President of ServiceNow from 2011 to 2017, taking the organization from around $100M in revenue, through an IPO, to $1.4B. And the reason that I found it so interesting is technology was mesmerizing. And having incredible meaning and potency and yield value for applications you never imagined. It was the lowest ranking job in the entire world of IT, if you were involved with tape automation. Sometimes that is hard for American audiences. It becomes the beating heart of a modern enterprise. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. 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. 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. As Snowflake got bigger in 2019, the company knew it was time for leadership to take it to the next level and brought in today's guest, Frank Slootman, as CEO. He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. Let's go." Company still around, by the way. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. Before that, he spent his life in Netherlands, where he was also born. It's like, "That's not exciting." 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. I just have been in the line of fire too long. And Mike, he takes on the end entire spectrum of controls and administration. But as I got into retirement, the whole experience of retirement changes in the beginning, it's very euphoric, right? But it's a very, it's a country that has really no natural resources other than the natural gas that you mentioned, which they're pretty much run out of by now, so they've really leveraged their geographic location over the years. 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. Snowflake CEO collects a $95 million payout every month You cannot sell your way through a crappy product, okay? What was that? 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. And I look at what the situation requires of me, not what I want to bring to it per se, based on my own background. So, this is not data warehousing, it's just one use case. Well, they knew now. 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. But the world of backup and recovery, was dominated, as you said, by tape automation technologies. These days, a lot of folks take it for granted, but Wall Street has a fascinating history. 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. Thanks for listening. Frank Slootman - Chairman and Chief Executive Officer - LinkedIn Can you explain how you overcame both to lead the company through its 2012 IPO? Much like how he runs his companies, Slootman is always direct in his speeches. 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." 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 then obviously, a business that was at a sense of itself, of its product lifecycle, which has its own unique set of challenges.

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