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? What's your advice about someone climbing the corporate ladder looking to make that leap? By the way, our two largest competitors were both bidding for the company at the same time. Yeah, there's no doubt. Some may describe him as direct. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. When you run companies, you need to narrow the plane of attack very, very quickly. Tour Hours: 10 am - 4 pm daily; 10 am - 3 pm in January and February. The introduction of risk management tools for LNG freight will boost the efficiency of the virtual pipeline of LNG, a new catalyst for the liberalization of LNG and a critical milestone in the globalization of natural gas. 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. There's no doubt, I'm a total hybrid here. 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. 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. But if you're performing at Tom Brady's level, you have no reason to step aside. They've never really been asked that before. And you got to go back to the early days of Steve Jobs, who always had this glimmer of, "I'm going to do something insanely great." And it was difficult for him to sort of hand over the reins, but the investors in the company convinced him that, "Look, we think that this is needed," because the company was growing well. Not all people are created equal in terms of their roles and their contributions in companies. Because they can't understand how spending categories can just explode overnight like that. Those are the people that are right there, where the people that bring home the bacon, there when the shit hits the fan. But it's not what it really is, so it wasn't an enormous surprise to me to come here. This sum is more than what the CEOs of Salesforce, Oracle, and even Microsoft was making. 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? I can just blow a year on doing some other stuff that's interesting." 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 . And for our audience who may not remember the days of tape backups, can you explain the underlying concept that you grew from two men and a dog into a multibillion dollar business? This is very much a country that believes things that other countries don't believe. Everyone's watching. But then, you go like, "Oh, this is the rest of my life." Instead, hes got something equally as coola sailing boat named The Invisible Hand. 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. We cannot just read our emails and have a few phone conversations and know what's going on. But that is what digital transformation is. And over time, we overcame that because we were laser focused on making the product bigger and faster every year. And today, there's an endless bank of software company elevators, but when you joined Comshare, it was in the nascent days of the tech world. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. And if I can't predict it, I can't change my policy, I can't change my pricing." Every week there was a new bid. 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 . And the whole point of the book is I try to contrast these experiences, like look, they're not the same. I mean, it's a hell of a cash burner as well. 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? Here's your host, Josh King of Intercontinental Exchange. What's the playbook?" It's just our nature to talk about problems." Slootman recently spoke at the CNBC. You need to sort your issues into, "What am I going to focus on?" He's like, "How do we run a supply chain?" 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. Look, I'm not a certain type of CEO. Slootman applies this philosophy in the workplace as well. Let's go." 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. 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 in other words, what problems can I solve very quickly versus what is going to take longer to solve. Meaning that we would run something like Tableau on top of Salesforce or whatever. The good thing is you dont have to actually sit in with Slootman to get his lessons. But they do because the world is changing to digital and this is the essence of digital transformation. Frank Slootman, Snowflake CEO, joins 'Closing Bell: Overtime' to discuss the company as shares slump on weak guidance following Wednesday's earnings report. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace. And Mike, he takes on the end entire spectrum of controls and administration. We played a round of golf. And, how do you design single best data operations platform you possibly can?". Right? Insurance companies historically have not been because they are data companies by their essence, right? Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? ICE is home to global natural gas markets benchmarks in Henry Hub, MBP, TTF, and JKM. 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. He cuts back where he sees fit. Welcome, Frank, inside the Ice House. [1] In June 2012, ServiceNow became a publicly-traded company as Frank Slootman led the company through a $210 million IPO. And I had already made a little bit of a name for myself in the company. And you can take it or leave it and try it on for size and see if you like it." But predictably, we already talked about Dutch culture, that relationship between the American parent and the Dutch subsidiary didn't go so well. And it's very rare to create that kind of value. We had no experience. The scramble isnt over, and many who missed the opening also missed on the double growth just off the gate. right? The list of its authors can be seen in its historical. And fortunately, the temperament that is in you, it's going to re-manifest itself sooner or later. And after a while it's like, "Look, I can't do one-on-one meetings with a million people. I think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. Perhaps thats exactly the kind of leadership that gets a million-dollar business into the realm of billions. So, the earlier you show up, the better off you are. I mean, all these greats, right? They just said, "Look, let's re-envision, re-imagine based on the platform realities that we now have, which was the Public Cloud. Back then, there were hardly any software companies around. Steve Jobs didnt even own 1% of Appleeven though he had millions worth in shares. It's like it's full of feedback. [2], In May 2019, Frank Slootman joined Snowflake Inc. as its CEO. 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. Career In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. 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 . The. The consequences of your action are like right there. 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. So, we're going to be in the middle of that. But one of those issues was that taken over from a founder CEO was really, really hard. One of the worst, worst in the English language for me. 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. I mean, in the book, Frank, you used the analogy of getting in the right elevator. So, I ended up in odd places because they didn't know what to do with me. I'm curious, how that opportunity at Data Domain came to you? Right. So in other words, I did not accept the Snowflake role until, Mike said, "I'm coming along.". I was a huge fan coming here. So, a book becomes highly scalable way of really creating some well-curated observations around "Look, here's what we believe to be true about the trajectory that we've been on. So, she talked me into it because I was on the verge of saying, "Look, I'm not going back there." 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? That's where we're at right now. I can't get you aptitude. So, we came up with this war cry that said, "Tape sucks, move on." Slootman said diversity comes second when making . 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? 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. What took you back to the Netherlands at one point? 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. It's not that easy. Everybody has access to talent. 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. All Rights Reserved. There are many questions left unanswered about the months leading up to Snowflake going public. It could address very few use cases. People were looking at my credentials. 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. People naturally become very unfocused, very, very easily. In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. 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. And it wasn't charged for, so companies just couldn't build software because it was just given away. So I've been very different from early days of Data Domain, later days of Data Domain, early days of ServiceNow. I'm in New York. While most CEO's would be described as the person who would take their company to the moon, Slootman has been referred to as the person who would take his company to Mars. At the same time, I ended up in conversations with the lead director and investor at Snowflake. Before that, he spent his life in Netherlands, where he was also born. And that's our conversation for this week. Frank Slootman, Chairman and CEO of Snowflake (NYSE: SNOW), presided over the largest software IPO in the NYSEs history, but it wasnt his first rodeo. And essentially, he defends. Frank Lloyd Wright Home and Studio. 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. Now, most organizations are incredibly in up still in terms of their data promise. And Mike was still the CEO at ServiceNow at that time. Yeah. 2023 Forbes Media LLC. And I was like completely taken aback because there not a single thread thinking about that, considering that, considering any role of any sorts. 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. You could eject the tape from a tape drive and you could ship it off site. And that's a whole different deal. And then obviously, a business that was at a sense of itself, of its product lifecycle, which has its own unique set of challenges. Because, and this is another important observation, I think. In any successful company just ask them, they will attribute success to their culture. I'm the opposite. Because the essence of data science is you are trying to discover through historical data what the relationships are in your business. 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. 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. And are there any particular secrets to building a consensus around the idea of change? 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). 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. 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 need to know what that is. Slootman received both his undergraduate and graduate degrees from the Erasmus University Rotterdam School of Economics. Everything in our world starts with technology, starts with architecture, okay? While that is probably not, my temperament is not terribly well-suited for those types of jobs. Our headquarters is in Atlanta, Georgia. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. 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. What's the silver bullet? Yeah, it was a good problem. 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. Another Dutch trend setter with the Winfrey title is Frank Slootman, the chairman and CEO of Snowflake. I mean, it was a super crowded field, but we just crushed that entire field. You got to catch people doing things the right way and then amplify that and praise it and reward it and so on because people are like pets and children. I mean, I still remember that we were in countries like France, where we had like a $10-million business, which was very small. 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. And of course, people chuckled because they recognized it. Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. Engineers should have a very easy time discerning the talent, so. Its none other than CEO Frank Slootman, and here are 10 things about the guy behind the current Snowflake craze. SAN MATEO, CA - May 1, 2019 - Snowflake Inc., the only data warehouse built for the cloud, today appointed Frank Slootman as its Chairman and Chief Executive Officer.Former CEO, Bob Muglia, has left the company after leading Snowflake through five years of unprecedented growth. And then I change myself to become that flavor of CEO. Listen to this episode from This Week in Startups on Spotify. Phone: 312.994.4000. And I'm like, "You know what? 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? 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.
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