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? Right, you got a good point. If you like what you heard, please rate us on iTunes, so other folks know where to find us. Learned an awful lot in that period of time. Because that's what it is. 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. What took you back to the Netherlands at one point? SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- Instacart, the leading online grocery platform in North America, today announced that Frank Slootman, Chairman and Chief . It was small, it was slow. And that's a whole different deal. He's a Dutchman Slootman moved to Silicon Valley in 1997. Frank Slootman Wiki, Biography, Age, Spouse, Net Worth, Fast Facts Because the essence of data science is you are trying to discover through historical data what the relationships are in your business. See what you can do with it" to data driving operations directly, right? Including his options, Slootman owns about 10% of Snowflake. 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. 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 . It was very formative. Well, that's another thing I don't think about that. 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. And it's just, it's intoxicating that energy. And the reason that I found it so interesting is technology was mesmerizing. What's the playbook?" Like, "Yeah, why don't we just throw that guy into that fire and see what he can do with it.". And by the way, data platforms have been extremely fragmented historically. We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. And by the way, for most people, that's a very difficult question. And I was like completely taken aback because there not a single thread thinking about that, considering that, considering any role of any sorts. Snowflake CEO Frank Slootman Leading for Hypergrowth - YouTube That is the X factor in companies, but it starts with weaponizing the mission. How does having who's worked closely with you for years help you accomplish your goals of hyper growth without losing focus? And people really want to be led in that manner. But as I got into retirement, the whole experience of retirement changes in the beginning, it's very euphoric, right? Paul Stovell is an Australian businessman and entrepreneur who serves as the current CEO of Octopus Deploy. Yeah, there's no doubt. The eight blocks of the street run from Broadway in the west to the East River in the east. Phone: 312.994.4000. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. 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. 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. It's up to 79% of the volume has gone cleared. At 61 years old, Slootman has created quite the reputation for himself. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace. 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. 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 . We'll do something good with it. I mean, the results speak for themselves. 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. 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 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. 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. Now, for us, it's a data Cloud. And over time, we overcame that because we were laser focused on making the product bigger and faster every year. I always find the problem when I hire people that are already, they have just taken a job and they're already about their next job. Fred Luddy, the founder of ServiceNow, I mean, super talented guy, obviously. Login - Ashima 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. 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 CEO Frank Slootman is the toast of the big data community, and following the $3.4 billion IPO, a favorite on Wall Street too. And it was really my wife who said, "No, no, we'll go. 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 it's very much a talent game just like business is. People who have seen sort of the ticker symbol of Snowflake pass their eyes on CNBC and see how its companies perform and say like, "What is that company with the name after falling snow from the sky?" But . Slootman applies this philosophy in the workplace as well. Because they can't understand how spending categories can just explode overnight like that. Frank Lloyd Wright's Buildings in Japan So, I did. Now, amid an ongoing legal battle, its got to clean up a very public mess. welcome back! Here's why this makes sense while looking at some options. Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. And are there any particular secrets to building a consensus around the idea of change? 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. When I was at Data Domain, hell, we were 15 people when I joined there. 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 not only is this CEO a winner on land; he also dominates the sea with his sailboatpretty impressive on any measure. It could address very few use cases. I really had to change from being an individual contributor or a small team leader to somebody who runs organizations. Snowflake CEO Frank Slootman made headlines with controversial comments about diversity in the workplace. You have to have data to partial reality, right? 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." 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. So I've been very different from early days of Data Domain, later days of Data Domain, early days of ServiceNow. I look at the situation, "What does this require?" 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, they knew now. [1] In June 2012, ServiceNow became a publicly-traded company as Frank Slootman led the company through a $210 million IPO. We are people that basically see everything that's wrong all day, and we always see a room up from where things are. The Dutch-born Slootman, who now lives in Montana, has had three hits in a row since 2003: He was made CEO of enterprise storage startup Data Domain and grew it to a $2.4 billion acquisition. As I said, what comes around, goes around. Chiefs defensive lineman Chris Jones recorded his first sacks of his postseason career in a redemptive victory, and his linemate Frank Clark stepped up in the playoffs once again. Strong personalities will just dictate culture in certain business units, in certain geographies and so on. Others might say that hes completely brash. They're very far removed from the drive train. I use that expression a lot to say, "Look, data operations is going to become your core." CEO of year's hottest IPO focuses on one 'incredibly hard' question - CNBC The Frank Lloyd Wright Suite at This Tokyo Hotel Is a Midcentury Modern Buyers and sellers can come together. We're two sides of a coin, which is a reason why we've shown up in so many companies together. I mean, the only thing that energizes people and teams and organizations and companies as a whole is the mission. I mean, you brought in some reinforcements when you started at Snowflake, including Michael Scarpelli, who was your CFO at Data Domain and ServiceNow. The pandemic has. 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. One of the worst, worst in the English language for me. And that went on literally for years, okay? Snowflake is Slootmans third IPO. And the other thing I'll say is we maintain a very, what we call a malcontent attitude. 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? Open main menu Close main menu Home About Us Contact Us States Advanced Search You just get into this cycle where all you want to do is leave. In short, money talks, and Slootmans got it in his hands and in his mouth. Between 2011 and 2017, Slootman was Chairman and CEO of ServiceNow - one of the world's leading SaaS . I'm in New York. In other words, you got to really mean it, okay? Well, that's because historically all we did was we did analytics in silo. There's new business models. Amping it up with Snowflake CEO Frank Slootman - SiliconANGLE So, it just started to happen, but I wanted to desperately be in software at that time. We're going to nuke an entire industry out of existence. Right? 5. And that's our conversation for this week. Those are really good conversation, good questions to have because each organization is different. Some of Wikitia's pages are sourced from Wikipedia.org's Mainspace and Draftspace. 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. As cool as it may sound, Slootman doesnt actually have a literal invisible hand. Make it as easy as I could make it. I talk to more people than most people in the company do, and that makes me dangerous because I hear directly what is going on - good, bad, and somewhere in between. But yeah, aptitude is really about, what are you innately good at? Can you explain how you overcame both to lead the company through its 2012 IPO? 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. The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. Data Domain went public in 2007, but two years later acquired by EMC, in my home state of Massachusetts. When a company is buying a million dollars from you in the course of a year, what are they getting? That is how you energize companies. But one of those issues was that taken over from a founder CEO was really, really hard. His company's listing here at the NYC in September 2020 was the largest software IPO in the history of the US capital markets. It's not that easy. They've never really been asked that before. While everything about Snowflake is hot in the market, were left asking who is at the helm of it all. And everybody was like, "Who's Data Domain? We will talk to you next week. That's NYSE ticker symbol S-N-O-W or snow who, like the immigrant inhabitants of New Amsterdam more than two centuries ago, has proven himself a master entrepreneur and visionary leader, able to take a great idea and scale it massively, and then apply the same playbook again and again. Snowflake CEO Frank Slootman Shares Secrets of Unrivaled Success in Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. We now use consumption models instead of subscription models. But the problem with tape was, I mean, tape got lost, tape became unreadable. We call it a turn on the crank and we came out with a product that was at least twice as big, twice as fast, so the market kind of opened up gradually for us. 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. Our guest today, Frank Slootman is chairman and CEO of Snowflake. When some of these firms moved out to Canary Wharf, they decided that actually, it was too much to be sending people to the room, so they moved it to a phone call to buy and sell and establishing a price. Now, it was actually pretty interesting because this was sort of a forerunner of a data analytics, business intelligence type of company. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. Mar 11, 2021, 11:30 ET. In Amp It Up, Frank, you say that a company's mission really has to be weaponized. I mean, truly retire. I mean, we have bumper stickers and people would at trade shows would stick them on tape libraries. Because he was still smarting from the fact that I left ServiceNow and he felt I left him stranded. And if I can't predict it, I can't change my policy, I can't change my pricing." The liberalization of LNG is creating a global natural gas market, with freight acting as a virtual pipeline between continents. Frank Slootman, Snowflake CEO, joins 'Closing Bell: Overtime' to discuss the company as shares slump on weak guidance following Wednesday's earnings report. Snowflake CEO collects a $95 million payout every month You want to be that person, okay? And I have to, the moment I start sitting in my ivory tower and rely on reporting from people all over the place, we're in a world of hurt. It was great and it lasted the entire duration. And that's the American flavor and flare that has built up over three, almost four decades. They knew exactly what we meant. The founder brings you in to scale up the company, but finds it difficult to step aside. 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 [emailprotected] or tweet at us @icehousepodcast. So, the earlier you show up, the better off you are. The ecommerce industry is one of the fastest-growing sectors, and at the moment, it features several players. Now, what that does the weaponizing, what that does is we block everything else out. In other words, they kind of let it happen. And my email just dribbled down to nothing and all this kind of thing." 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? But it's not what it really is, so it wasn't an enormous surprise to me to come here. 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 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. A compensation package he received upon joining Snowflake in April 2019 awards him a. And essentially, he defends. But you mentioned this earlier, it isn't really what happened. New competitors, new partner ecosystems, so it was like, "Wow, this is the future." I mean, in the book, Frank, you used the analogy of getting in the right elevator. So in other words, I did not accept the Snowflake role until, Mike said, "I'm coming along.". So, I just had some peripheral view of the company, as well as its strategic challenges, by the way. Yeah. 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. So, what are things that we should absolutely not ask you to do ever? Data has no opinion. 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. And obviously, I got that in spades at UN Royal in Indiana. I'm a proud US citizen, but at the same time, there's no negating my Dutch roots. 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. 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. These days, a lot of folks take it for granted, but Wall Street has a fascinating history. I mean, we were crawling the bottom in the early days, so we had a product that had marginal product market fit. And the whole point of the book is I try to contrast these experiences, like look, they're not the same. We cannot just read our emails and have a few phone conversations and know what's going on. And historically, people have tried to answer these questions anecdotally. That culture really keeps you safe from being indulgent or just, you're sort of presiding. It was sort of an adjunct to what they called the computer industry back then. It was doubling. What's your advice about someone climbing the corporate ladder looking to make that leap? But this was quickly set aside because Frank appears to walk the walk. Because you're like, "Oh, this is great. The New York stock exchange sits at the Southern tip of Manhattan on the corner of Wall and Broad Streets. 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. And it's not just bad behavior, it's also good behavior. Instacart Appoints Frank Slootman, Chairman And CEO Of Snowflake, To This is a very buoyant country. 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. 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.. I can't get you aptitude. I mean, there's many jobs in companies and some of them are quite far removed. That's the point of it. This site uses Akismet to reduce spam. 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. 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. We had this very high profile bidding war between the EMC and NetApp at that time. The scramble isnt over, and many who missed the opening also missed on the double growth just off the gate. Sometimes that is hard for American audiences. Instacart Appoints Frank Slootman, Chairman And CEO Of - Insider right? They're very safe. Thanks so much for joining us inside the Ice House. 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. Hes quite knowledgeable in the market industry, and he doesnt confuse with unnecessary jargon. 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. We were going to do the world of favor.". BUILDINGS. And that's exactly what we did. I mean, it's hard to believe at this day and age that things were that way back then, but they were. It wasn't, and the company wasn't failing financially on its growth objectives. So, we're going to be in the middle of that. Frank Slootman has written another book about how to run a business based on his time at Data Domain, ServiceNow, and Snowflake. I remember having a conversation with the CEO of a very large healthcare company. Theres no surprise here. We just never backed off of it. And I say, "Stop putting labels on yourself. Snowflake CEO Frank Slootman: How To Boost Growth And Drive Meaningful I think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. 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. It is a future state that we're all working on right now. So, this is not data warehousing, it's just one use case. I'm the opposite. 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. Much like how he runs his companies, Slootman is always direct in his speeches. I need to know what that is. Not much is known about Slootmans personal life, but we do know that hes fairly young for the success hes achieved in his lifetime. We played a round of golf. That's NYSE ticker symbol, S-N-O-W. His book from John Wiley and Sons, Amp It Up: Leading For Hypergrowth By Raising Expectations, Increasing Urgency, and Elevating Intensity is in bookstores and online now. I mean, it's like when people start to roll their eyes. 2023 Forbes Media LLC. Blackstone Announces Appointment of Frank Slootman, Chairman and CEO of I can just blow a year on doing some other stuff that's interesting." People were looking at my credentials. So, we came up with this war cry that said, "Tape sucks, move on." Amp It Up: Snowflake boss pens hands-on CEO toolkit 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. Frank Slootman - Topp podcast avsnitt And you need to have the flexibility of mind to really deploy yourself. He cuts back where he sees fit. They want to know what good behavior is. I always become the CEO that the situation mandates and dictates. I was just shot. It's very hard. In any successful company just ask them, they will attribute success to their culture. We're driving change. Two years later, he was back at it again as chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. And rightfully so, by the way, because they have created something, right?.

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