Instacart Appoints Frank Slootman, Chairman And CEO Of Snowflake, To 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. The Dutch have all always been enterprising. Yeah, that goes back about mission posture. When you run companies, you need to narrow the plane of attack very, very quickly. In other words, swarm to it instead of distance yourself from it. But let's focus on another dilemma that brought up in the book, Frank. None of that stuff is material to your mission. When a company is buying a million dollars from you in the course of a year, what are they getting? 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? They want to know what bad behavior is. So in other words, I did not accept the Snowflake role until, Mike said, "I'm coming along.". Learned an awful lot in that period of time. And then I change myself to become that flavor of CEO. 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. Amp It Up: Snowflake boss pens hands-on CEO toolkit 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? Because now, now you're going to look people in the eye, and say, "Look, this is the way we're going to be. I mean, it was a super crowded field, but we just crushed that entire field. Snowflake CEO Frank Slootman: How To Boost Growth And Drive Meaningful Collaboration between companies also offers significant opportunities to create value, and Frank Slootman - Chairman and CEO of data cloud pioneer Snowflake - believes it has never been more important for organizations to be able to mobilize their data and share it with ecosystem partners. And by the way, the inverse of that is what are you not good at? 5.9% of any company is a huge deal. Frank Slootman - Chairman and Chief Executive Officer - LinkedIn They've never really been asked that before. You're finding the best sailors in the world and all of that. I mean, there's many jobs in companies and some of them are quite far removed. right? It's a small country, obviously, which is why they sort of veer far and wide. Slootmans style of leadership is not gentle at all. Those are just markets, but culture is how you get up in the morning and how you prosecute your day, so it is a huge deal. Obviously, that required even more resources, so we really had the strategic dilemma that we couldn't grow beyond our core market. How Much Snowflake CEO Frank Slootman Made in 2019 - Business Insider It is hard when you lose your sense of mission, when you lose your desire and your boldness and your aggression in the marketplace and want to go after competition. I remember having a conversation with the CEO of a very large healthcare company. 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. But they do because the world is changing to digital and this is the essence of digital transformation. Engineers should have a very easy time discerning the talent, so. Because, and this is another important observation, I think. I can just blow a year on doing some other stuff that's interesting." And it worked like that for about a hundred years. Login - Ashima It wasn't, and the company wasn't failing financially on its growth objectives. And there were many, many players in that segment, by the way. 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). There are many questions left unanswered about the months leading up to Snowflake going public. He's a pretty good golfer. Now, we're going to go move the pieces and I'm just a piece on the chessboard." 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. Make it as easy as I could make it. This is a country that's very aspirational. The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. Then, they discuss Frank's hiring philosophy and how to create a winning relationship between an executive and their direct reports . They did not try to carry technology or ways of thinking forward. CEO Frank Slootman (second row, fourth from left) and the Snowflake team virtually rang the opening . No, I didn't. And opinions, everybody's got one, but data doesn't lie. That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. Yeah. So not only is this CEO a winner on land; he also dominates the sea with his sailboatpretty impressive on any measure. I often refer to those people as passengers and then, they're the drivers. Right? Where does a CEO Frank find time to write two books back-to-back and what was the inspiration for Amp It Up? Those are the people that are right there, where the people that bring home the bacon, there when the shit hits the fan. How Snowflake CEO Frank Slootman became a billionaire by ripping up the Frank Slootman - Topp podcast avsnitt CEO Frank Slootman made $287,990 in salary in 2019. If you want to know more about this CEO, this might be the book to read. A decade after his death, fantasy artist Frank Frazetta still towers over the pop culture landscape as new fans discover his work. And I was like completely taken aback because there not a single thread thinking about that, considering that, considering any role of any sorts. After joining almost at the start in 2003, Slootman helped. The. 2023 Forbes Media LLC. Correct, correct. Snowflake IPO: Everything you need to know | Fortune They also appreciate it. But the essence of what I'm getting when I hire you is what you're innately good at. And then obviously, a business that was at a sense of itself, of its product lifecycle, which has its own unique set of challenges. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. The list of its authors can be seen in its historical. 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 rightfully so, by the way, because they have created something, right?. He knows what problems exist in his field today, and he knows how to address them as well. [23] I mean, it's hard to believe at this day and age that things were that way back then, but they were. This is very much a country that believes things that other countries don't believe. 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. The 61-year old Dutch executive's first CEO job was at an early-stage startup called Data Domain that made specialized storage hardware. But you think that your upbringing in the Netherlands gave you a unique perspective on business and success, that's helped you throughout your career? And obviously that is not the best way to go about things because that's just one man's opinion against another, right? We're not trying to find fault with people or who did what to whom. But then, there's new platforms in terms of the Public Clouds, right? 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. You need to sort your issues into, "What am I going to focus on?" And it was one, and we were better known as the tape sucks company than we were by our own company name at one point. Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language. 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. Please help to demonstrate the notability of the topic by citing, Learn how and when to remove this template message, https://xconomy.com/san-diego/2011/04/26/service-now-names-software-industry-veteran-frank-slootman-as-ceo/, https://www.businessinsider.com/servicenow-frank-slootman-interview-2012-8, https://www.forbes.com/sites/tomtaulli/2019/06/05/snowflake-the-ai-force-multiplier/amp/, https://www.cnbc.com/2020/09/16/snowflake-snow-opening-trading-on-the-nyse.html, article "Frank Slootman" is from Wikipedia, https://wikitia.com/index.php?title=Frank_Slootman&oldid=81954. It's like it's full of feedback. Reflects change since 5 pm ET of prior trading day. But you dont achieve a $1.8 billion net worth by being a spendthrift. 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. 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. Now, I might be a big piece on the chessboard as the CEO of the company, but that's really how you want to think about it. And it's very much a talent game just like business is. Steve Jobs didnt even own 1% of Appleeven though he had millions worth in shares. There's new business models. It takes a ton of work to maintain intense focus on the mission, so that's the weaponizing. It's really a company production, by the way. Blackstone Announces Appointment of Frank Slootman, Chairman and CEO of 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. I just have been in the line of fire too long. 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. Here's why this makes sense while looking at some options. Did you find it difficult to change Snowflake's established culture? Frank Slootman currently serves as Chairman and CEO at Snowflake. From Broke To Billionaire: How Fred Luddy Built - Forbes 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? Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. Well, you think you're just going to turn it off? But yeah, aptitude is really about, what are you innately good at? Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career. 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.. They're very lonely in their jobs. No, we're talking about stuff that's not working well. Given his accolades, Slootman gets invited to speak at many events. Right, you got a good point. So, we came up with this war cry that said, "Tape sucks, move on." 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. I'm like, "We're not trying to indict what you've done. His company's listing here at the NYC in September 2020 was the largest software IPO in the history of the US capital markets. We're always picking at things that could be better. Yeah. 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. Snowflake, while not yet generating $1 billion in annual revenue, leaped into the Cloud Wars Top 10 several months ago and . 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. I mean, you're not going to get excited, "Well, we want to grow 100% this year." And people would eyeball those reports in those dashboards, and that was sort of the extent of it. So like, "Look, I'm not going to be doing the same races over and over again." All Rights Reserved. That takes very different approaches, orientation, skill sets, and so on what you do. CEO of year's hottest IPO focuses on one 'incredibly hard' question - CNBC 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. We will talk to you next week. And the reason that I found it so interesting is technology was mesmerizing. I mean, that's how I felt at that time, like I had no more to give. Architecturally, just damn near perfect, so. I speak with a fat accent and like, "What are we going to do with you, pal?" You arrived at something like tape sucks. Two years later, he was back at it again as chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. Mar 11, 2021, 11:30 ET. the internship sort of came about because I was about a year ahead of schedule at the university. And in other words, I was already negotiating Mike's package before I had joined ServiceNow. 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 by the way, for most people, that's a very difficult question. 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 . The name was also fitting because a few years later, Snowflake burst onto the tech scene with a one of a time groundbreaking Cloud data warehouse product that revolutionized how companies could manage their data. 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. You guys are a data company, you know as well, right? Because, if I can't explain it, then I can't predict it. It's up to 79% of the volume has gone cleared. Property details for 3001 W Ruby Hill Dr, located in Pleasanton, California. Things will change in ways you cannot even imagine the ideas that happen. Yeah, it was a good problem. 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. Frank Slootman is the CEO of Snowflake, a cloud-based dataset organization he helped build in 2019. Investors know this about us. Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. Our headquarters is in Atlanta, Georgia. He was saying during the pandemic, he's like demand was up 60% over here, down 100% over there. Before that, he spent his life in Netherlands, where he was also born. Some may describe him as direct. Snowflake: Not What You May Think It Is - Datanami Snowflakes debut on the New York Stock Exchange on September 16 under the ticker SNOW delivered the much anticipated blockbuster opening. 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. That is the most, that is so unproductive. I think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. You ever noticed that NFL quarterbacks just can't leave the stage. I hate to break it to the audience, but that is the way that it is. Frank Lloyd Wright Home and Studio | Frank Lloyd Wright Trust That's not a healthy dynamic. 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. 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. You hit a mark, you have to do two 360s. One company that embodies this vision is ThoughtSpot, an analytics company. He was pretty smart to use nautical expressions in that conversation, take the helm at 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? And people are, are mesmerized by Snowflake results because they don't quite understand, where is this coming from? Frank Lloyd Wright Home and Studio. Why did you give up the helm of the invisible hand for this new role with Snowflake? 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. What attracted you to the space? He also scaled the workplace back tremendously from stunning spaces in San Francisco to headquarters in San Mateo. Snowflake moves executive office from California to Bozeman, Montana - CNBC But predictably, we already talked about Dutch culture, that relationship between the American parent and the Dutch subsidiary didn't go so well. And our conversation with Frank Slootman on how he amped up his career scaled three companies and the lessons he wants to now share with the world is coming up right after this. I'm buying aptitude and then I'm going to develop that with experience, right? New competitors, new partner ecosystems, so it was like, "Wow, this is the future." Now, amid an ongoing legal battle, its got to clean up a very public mess. 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.