Profile of Billionaire Snowflake CEO Frank Slootman So, it's the story, what goes around, comes around, as I said at the beginning. But EMC prevailed. Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career. Snowflake CEO Slootman has been spending a lot of time in Montana in recent years. Slootman urged Snowflake investors to be patient with stock during multiyear cloud transition. Veteran tech executive Frank Slootman was retired and racing sailboats last year when an old friend reached out. And I'm like, "You know what? There was a problem saving your notification. This is a very buoyant country. Like Databricks, Snowflake also works within the Analytics sector. This is very much a country that believes things that other countries don't believe. If you forget it, you'll be able to recover it using your email address. Choose wisely! 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. In Amp It Up, you're pretty open about the struggles the company faced in its business and leadership. I mean, Dutch people are incredibly hard driving, no nonsense, can't suffer bullshit type of people. CNBC To see all content on The Sun, please use the Site Map. The company recently announced it will be moving its corporate headquarter from San Mateo County, California, to Bozeman, Montana. But it's not what it really is, so it wasn't an enormous surprise to me to come here. How does having who's worked closely with you for years help you accomplish your goals of hyper growth without losing focus? So in other words, I did not accept the Snowflake role until, Mike said, "I'm coming along.". 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. When I'm on offense out there, I don't worry about what's going on at home at the farm because that is in a very, very tight control mode. When I was at Data Domain, hell, we were 15 people when I joined there. You guys are a data company, you know as well, right? So, they looked around and they found the guy with a passport to Dutch language proficiency like. We're not trying to find fault with people or who did what to whom. Slootman owns about 10 percent of Snowflake. Not all CEOs have this, but a lot of CEOs do. $2.1B. You need to sort your issues into, "What am I going to focus on?" Frank Slootman currently serves as Chairman and CEO at Snowflake. This is the fundamental premise of a hard hitting new book written by Frank Slootman, chief executive of Snowflake Inc., and Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. In the book, I go on and on about what some of those issues are. Never seen the inside of an office or anything. 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. If you want to be the best - Amp It Up is for you. " But that is what digital transformation is. Analytics, Why This press release features multimedia. Snowflake joins California exodus, moves executive Juliana Sukut can be reached at 582-2630 or jsukut@dailychronicle.com. We're going to nuke an entire industry out of existence. The ambitions that happen, the boldness that happens as a result of that, that becomes the magic. Some portions of the proceeding conversation may have been edited for the purpose of length or clarity. If you value these stories, please consider subscribing. We actually won everything that we wanted to win. It was small, it was slow. 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? View source version on businesswire.com: Tell me about sailing, first of all. Because now you're buying somebody else's culture. This book is essential reading for every leader who aspires to motivate teams, inspire excellence and deliver beyond expectations. I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." All these things eventually came together. After submitting your request, you will receive an activation email to the requested email address. That's awesome. Slootman owns about 10 percent of Snowflake. Because that's what it is. Board, https://www.businesswire.com/news/home/20220119005295/en/, Snowflake for Advertising, Media, & Entertainment. Because they can't understand how spending categories can just explode overnight like that. And it was really my wife who said, "No, no, we'll go. You're no longer using data to basically please a bunch of eyeballs, like, "Hope you like it. 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. Snowflake runs onAmazon S3since 2014, onMicrosoft Azuresince 2018and on theGoogle Cloud Platformin 2019. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. Investors know this about us. Slootman, 61, is a professional CEO. When a company is buying a million dollars from you in the course of a year, what are they getting? This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. And Mike, he takes on the end entire spectrum of controls and administration. And then, I had another internship after that. And historically, people have tried to answer these questions anecdotally. Did Frank Slootman Leave ServiceNow And it wasn't charged for, so companies just couldn't build software because it was just given away. In other words, "How fast does this might work?" And it's very much a talent game just like business is. I'm buying aptitude and then I'm going to develop that with experience, right? It takes a ton of work to maintain intense focus on the mission, so that's the weaponizing. While that is probably not, my temperament is not terribly well-suited for those types of jobs. We tried to, we wanted to get into primary storage. 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 speak with a fat accent and like, "What are we going to do with you, pal?" It's hard to get off of that. And we feel the consequences of our actions every minute of the day. And fortunately, the temperament that is in you, it's going to re-manifest itself sooner or later. Look, I'm not a certain type of CEO. It allows corporate users to store and analyze data using cloud-based hardware and software. 700. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. 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. This is really think about it as a database in the Cloud. Now, as the story goes, England followed the Netherlands in control of Manhattan. 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. I'm just, I'm fighting that tide. One of the worst, worst in the English language for me. At the same time, I ended up in conversations with the lead director and investor at Snowflake. If you like what you heard, please rate us on iTunes, so other folks know where to find us. No, I didn't. right? Customers use the Data Cloud to unite siloed data, discover and securely share data, and execute diverse analytic workloads. So, the earlier you show up, the better off you are. It was great and it lasted the entire duration. I mean, for example, I remember when we first, got involved with Geico and Todd Combs, the CEO, said, "Look, I don't need any more lectures from you guys on architectural prowess and all this sort of thing." You come with aptitude. "Frank Slootman is one of the best-performing CEOs there is. Everybody has ideas. And by the way, data platforms have been extremely fragmented historically. These are big, big changes that we are experiencing in the marketplace, and were just super happy to be in the middle of that and be an enabler of that, he said, adding that Snowflake places its focus on growing at scale. Why did you give up the helm of the invisible hand for this new role with Snowflake? Frank Slootman is the CEO of Snowflake, a cloud-based database firm he joined in 2019 and took public in September 2020 in a blockbuster IPO. 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. Now, for us, it's a data Cloud. The nascent liquidity of spot LNG freight markets, and the volatility of time charter rates has boosted demand for risk management tools. Yeah. SNOWFLAKE CEO Frank Slootman has asked his shareholders to stay the course due to the company's cloud transition. It's not that easy. 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. Send us your thoughts and feedback as a letter to the editor. And if I can't predict it, I can't change my policy, I can't change my pricing." It was the lowest ranking job in the entire world of IT, if you were involved with tape automation. Amp It Up is a must-read book for anyone looking to take their team and organization to the next level." 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. See what you can do with it" to data driving operations directly, right? I mean, we have bumper stickers and people would at trade shows would stick them on tape libraries. In AMP IT UP, he shares how leaders can convert lingering potential into superior results with the resources they already possess. Right? And the other thing I'll say is we maintain a very, what we call a malcontent attitude. Were not a growth-at-all-costs company., Souness fights back tears as he announces emotional retirement on Sky Sports, Sky Sports' Martin Tyler slammed for 'racist' comment about Spurs star Son, Olly Murs breaks down on stage over Caroline Flack 'regret', Fulham's Pereira stretchered off with suspected broken leg in worrying scenes, News Group Newspapers Limited in England No. 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." Frank Slootman currently serves as Chairman and CEO at Snowflake. And you can't play chess pieces in a million different ways, right? 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 now, I feel like I'm being haunted, by this Dutch thing, this cloud that's hanging over me." WebSnowflake is a Montana-based cloud computing platform that deals with the design and development of data warehouse and analysis solutions for customers. 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. No, we're talking about stuff that's not working well. Because, if I can't explain it, then I can't predict it. I actually wanted to retire, truth be told. Well, they knew now. 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. And then being able to talk about it in an intelligent, really rich-considered manner. Make it as easy as I could make it. 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. But he had also been the CEO of ServiceNow for seven years. Hes an operations guru, the leader who turns a jet plane into a rocketship and makes piles of cash for investors, employees, and himself. WebFrank Slootman Chairman of the Board and Chief Executive Officer Contact 2 Contact 3 Contact 4 See All Contacts Dynamic search and list-building capabilities Real-time Amp It Up is a recipe we can all apply. And we publish the data transparently on our site, so anyone can come and see what actually happened in the auction. So I've been very different from early days of Data Domain, later days of Data Domain, early days of ServiceNow. 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). And are there any particular secrets to building a consensus around the idea of change? Because, and this is another important observation, I think. That's really what you want to preserve rather than layers and layers and layers and channels of communication. When I was considering Snowflake, I told Snowflake, "I will not do this if Mike doesn't come along." No-Headquarters/BOZEMAN, Mont.--(BUSINESS WIRE)-- All of us, no exceptions." 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. But you mentioned this earlier, it isn't really what happened. The companys CEO Frank Slootman owns a ranch in Montana, Forbes reported. I mean, you brought in some reinforcements when you started at Snowflake, including Michael Scarpelli, who was your CFO at Data Domain and ServiceNow. So, what are things that we should absolutely not ask you to do ever? Frank Slootman If it's not related to our core mission, we don't want to hear about it. That's a running joke that we always have. People naturally become very unfocused, very, very easily. Well, that's another thing I don't think about that. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. It was able to separatecomputer data storagefromcomputingbefore Google, Amazon and Microsoft. So, I ended up in odd places because they didn't know what to do with me. On May 26, Slootman asked shareholders to be patient with the companys stock because the cloud transition is not happening overnight. But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. Once you start doing that, you need to take yourself out of the game. 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. You have permission to edit this article. It takes nothing. And in other words, what problems can I solve very quickly versus what is going to take longer to solve. So, we came up with this war cry that said, "Tape sucks, move on." Things will change in ways you cannot even imagine the ideas that happen. That's the point of it. But we didn't have the market capital resources to do that. 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? Nothing to do with financial targets or growth targets or market capitalization. Read it now on the OReilly learning platform with a 10-day free trial. I mean, that's how I felt at that time, like I had no more to give. I hate that. Create a password that only you will remember. Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. Snowflake went public in September ina record-breaking IPO, with shares closing that initial trading day at $253.93, however, the stock was below that level on May 26. And that's all coming up right after this. If you like what you heard, please rate us on iTunes, so other folks know where to find us. Amp It Up, published a scant of 13 months after the Rise of the Data Cloud, which you wrote with Steve Hamm. I look at the situation, "What does this require?" No databases of scale and no file systems with scale. I mean, that's how aligned this is, okay? Joe Tucci, former Chairman and CEO, EMC, "Frank Slootman is one of the best-performing CEOs there is. Search the complete digital archives for all papers in the Pioneer News Group. And I said, "Why not?" 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. These days, a lot of folks take it for granted, but Wall Street has a fascinating history. So, I ended up going back to, I really didn't want to. I mean, it was just trying to stay alive. WebHeadquarters 106 E Babcock St Ste 3A, Bozeman, Montana, 59715, United States (844) 766-9355 CEO Frank Slootman Revenue $1.6 B Employees 3,992 Founded 2012 88 /100. And then my career thrived as each sort of, it veered just taking on jobs that nobody else would take, in other words. I'm in New York. WebFrank Slootman | Email Address | Phone Number | Snowflake Inc. | Chairman and Chief Executive Officer. So, I really lift that cross and the chasm dynamic. Yeah, that goes back about mission posture. And it's not just bad behavior, it's also good behavior. I always tell my own people, "Look, I'm a piece on the chessboard, okay? Now, you can manage LNG freight risk with ICE LNG freight futures contracts, which join our global natural gas complex. Bunkers is basically a silo that's incredibly hard to access. 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? And did you have a sense that the sector was really about to explode? Were not a growth-at-all-costs company., Heartbroken dad issues warning after son, 13, dies in TikTok challenge, Red flag after possible suspect in missing brothers case made eerie request, Two dead and four injured after 19-year-old 'opens fire at prom after party', $80k reward offered for shooting suspect Francisco Oropesa after five killed, 2020 THE SUN, US, INC. ALL RIGHTS RESERVED | TERMS OF USE | PRIVACY | YOUR AD CHOICES | SITEMAP, Frank Slootman owns about 10 percent of Snowflake, Snowflake is a cloud computing-based date warehousing company, Snowflake's shares tumbled as much as 8 percent on May 26. And essentially, he defends. The company is credited with reviving the data warehouse industry by building and perfecting a cloud-based data platform. Bureau, Marketing Databricks Competitors and Alternatives - Owler Because the essence of data science is you are trying to discover through historical data what the relationships are in your business. I mean, you're not going to get excited, "Well, we want to grow 100% this year." View our online Press Pack. Now, we're going to go move the pieces and I'm just a piece on the chessboard." And then I change myself to become that flavor of CEO. 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. It was an application development and runtime platform to run on both Unix and OSU and Windows all at the same time. But your culture is the only thing that's really unique to you and everything else is up for grab for anybody else. While CEO of ServiceNow prior to joining Snowflake, Slootman contributed the 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. 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. WebPortuguese products available Online we mail to all lower 48 states. 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. swig secret menu; pete postlethwaite brother; My Cart. And my email just dribbled down to nothing and all this kind of thing." I'm Josh King, your host, signing off from the library of the New York Stock Exchange. It's lights out, light speed and then fully disintermediated and it's fully programmatic. We were going to do the world of favor.". Thousands of customers across many industries, including 223 of the 2021 Fortune 500 as of October 31, 2021, use Snowflake Data Cloud to power their businesses. Meaning that we would run something like Tableau on top of Salesforce or whatever. That is how you energize companies. And that is our culture. Get the world to sort of move onto a different technology platforms, et cetera. 89/100. In 2019, Slootman's boat manager, the former Olympic sailor Gavin Brady, was investigated by World Sailing, competitive sailing's governing body on suspicion of concealing modifications he made to another owner's boat. The investigation was dropped in February because of a technicality, and Brady was given a warning. 89/100. 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. Released January 2022. They want to know what bad behavior is. At the same time, we've never had a data Cloud in the history of computing because data was just fragmented and proliferated into silos and what we call bunkers. 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. What's the silver bullet? 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. And while such growth can feel elusive, game-changing transformation is within our grasp -- with the right leadership mindset. Thats sort of the message to investors to really understand were signing on here for a journey thats five to 10 years.. I'm like, "We're not trying to indict what you've done. It was able to separatecomputer data storagefromcomputingbefore Google, Amazon and Microsoft. Snowflake ukazuje, e zprvy o smrti cloud jsou pehnan That is the X factor in companies, but it starts with weaponizing the mission. I remember having a conversation with the CEO of a very large healthcare company. An email message containing instructions on how to reset your password has been sent to the e-mail address listed on your account. That is the most, that is so unproductive. And when you buy companies, it gets worse, right? That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. Are you just going to look the other way or are you going to call it out? 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? Whereas in business, it often takes so much longer to be confronted with the consequences of your actions and some people don't-. It's you're in this job for a reason. 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. These are big, big changes that we are experiencing in the marketplace, and were just super happy to be in the middle of that and be an enabler of that, he said, adding that Snowflake places its focus on growing at scale. They're very well dialed into it. I mean, they had graphical user interfaces that were completely proprietary to that company. No. Slootman stressed that the companys software is only becoming more important as enterprises shift away from databases tied to hardware. WebFrank Slootman Chairman & CEO. As we're recording this in early 2022, the competition for talent has reached a boiling point. Doug Leone, Global Managing Partner, Sequoia Capital, "Amp It Up is a terrific read for leaders and future leaders, whether they are at a start-up, an SMB, or a big company. So, it just started to happen, but I wanted to desperately be in software at that time. This is the name that will be displayed next to your photo for comments, blog posts, and more. I mean, we had like 15X, the X of the next nearest competitor. To inquire about a licence to reproduce material, visit our Syndication site. All of which is presented solely for informational and educational purposes. 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. 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. Snowflake Inc. CEO Frank Slootman apologized in a blog posted on Monday about comments he made to Bloomberg TV last week in which he said diversity should And the product was insanely fast, completely automated. WebSlootman has spent a lot of time and money in Montana in the years. Take our own company, Intercontinental Exchange, for example. WebKey Principal: Frank Slootman See more contacts Industry: Prepackaged software Printer Friendly View Address: 106 E Babcock St Ste 3A Bozeman, MT, 59715 United States 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." Frank Slootman - Forbes Exponential growth is a critical goal for todays emerging ventures. Learn more at snowflake.com. And the whole point of the book is I try to contrast these experiences, like look, they're not the same. What goes around, comes around and the Dutch get around the world. Information contained in this podcast was obtained in part from publicly available sources, and not independently verified. 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. I mean, we were crawling the bottom in the early days, so we had a product that had marginal product market fit. You can sign up for additional alert options at any time. Board, Speakers Top 5%. 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. 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). 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. SNOWFLAKE CEO Frank Slootman has asked his shareholdersto stay the course due to the company's cloud transition. 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? They knew exactly what we meant. Don't typecast yourself." $5.4B. They did not try to carry technology or ways of thinking forward. We cannot just read our emails and have a few phone conversations and know what's going on. We're always picking at things that could be better. That culture really keeps you safe from being indulgent or just, you're sort of presiding. So, we're going to be in the middle of that. That was career death for people, so it was just the least flattering place in the entire IT operation was backup and recovery based on tape, very logistically, intense. Snowflake is relocating executive office from California to A multi-billion dollar cloud-based data company announced this week it had relocated its primary offices to Bozeman. What took you back to the Netherlands at one point? Those are all disciplines that leverage where they are, right at the headwaters off the entire European continent. The three-time CEO and industry leader spearheaded the largest software IPO in history for Snowflake in 2020, previously led IPOs for both Data Domain and ServiceNow.
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