No. That's not a healthy dynamic. And then, I had another internship after that. Snowflake offers a cloud-based data storage and analytics service, generally termed "data warehouse-as-a-service.". And I said, "Why not?" All these things eventually came together. How does having who's worked closely with you for years help you accomplish your goals of hyper growth without losing focus? Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? It's really a company production, by the way. 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. Frank Slootman, CEO of Snowflake, on the day of its 2020 IPO, Sept. 16th, 2020. I mean, you brought in some reinforcements when you started at Snowflake, including Michael Scarpelli, who was your CFO at Data Domain and ServiceNow. Snowflakes Competitors, Revenue, Number of Frank Slootman - Chairman and Chief Executive Officer And in other words, what problems can I solve very quickly versus what is going to take longer to solve. It still runs as an auction in rounds of 30 seconds and final price were used as the benchmark for the entire gold market. Good sales people have a track record. All of us, no exceptions." Profile of Billionaire Snowflake CEO Frank Slootman You're finding the best sailors in the world and all of that. It's lights out, light speed and then fully disintermediated and it's fully programmatic. ISBN: 9781119836117. Company still around, by the way. This is a country that's very aspirational. Frank Slootman Make it as easy as I could make it. I actually wanted to retire, truth be told. So, it's the story, what goes around, comes around, as I said at the beginning. And I'm like, "You know what? The founder brings you in to scale up the company, but finds it difficult to step aside. He's like, "How do we run a supply chain?" The IPO was the third for Slootman, who moved to California for a job at Compuware in the dot-com boom, then worked at Borland Software. But they do because the world is changing to digital and this is the essence of digital transformation. Search the complete digital archives for all papers in the Pioneer News Group. 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. What's your advice about someone climbing the corporate ladder looking to make that leap? $2.1B. Everybody has ideas. And after a while it's like, "Look, I can't do one-on-one meetings with a million people. I was just shot. As we're recording this in early 2022, the competition for talent has reached a boiling point. We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. The couple live in the Ruby Hill gated community in Pleasanton, a serene San Francisco Bay Area suburb where the typical home is worth $1.2 million. It's about 40 miles from Snowflake's San Mateo headquarters and a 3.5-hour drive from Lake Tahoe, where the Slootmans have owned a home. The Slootmans also have a ranch in southwestern Montana. The question is, what are you going to do? And I had already made a little bit of a name for myself in the company. I don't know what, if you go back to those days. That is the X factor in companies, but it starts with weaponizing the mission. Did you always have your eyes set on a career in the US? You have to have data to partial reality, right? What took you back to the Netherlands at one point? According to Forbes, the tech CEO has amassed a $2.1billion net worth. Some of the companys customers include companies like Capital One, Adobe, DoorDash, Western Union and PetCo. 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. 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." Frank Slootman I mean, it was just trying to stay alive. Slootman, 61, is a professional CEO. Snowflake runs onAmazon S3since 2014, onMicrosoft Azuresince 2018and on theGoogle Cloud Platformin 2019. 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? So, we're going to be in the middle of that. You need to sort your issues into, "What am I going to focus on?" Snowflake shares are also down 16 percent year to date, as investors have rotated out of high-flying growth names into economically sensitive companies that stand to benefit from the Covid recovery. That's actually another important bit of learning with a lot of people take on CEO roles and they keep doing their last job because that's familiar to them and they love it and they keep doing it. This is really think about it as a database in the Cloud. You just get into this cycle where all you want to do is leave. It was small, it was slow. One of the worst, worst in the English language for me. But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. In other words, somebody who has lived their lives over and over. It was doubling. Released January 2022. 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 Data Domain went public in 2007, but two years later acquired by EMC, in my home state of Massachusetts. Juliana Sukut can be reached at 582-2630 or jsukut@dailychronicle.com. Snowflake moves executive office from California 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. That takes very different approaches, orientation, skill sets, and so on what you do. And the whole point of the book is I try to contrast these experiences, like look, they're not the same. ICE is home to global natural gas markets benchmarks in Henry Hub, MBP, TTF, and JKM. He was saying during the pandemic, he's like demand was up 60% over here, down 100% over there. And it wasn't charged for, so companies just couldn't build software because it was just given away. 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. Your account has been registered, and you are now logged in. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. If it's not related to our core mission, we don't want to hear about it. It's you're in this job for a reason. 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. Because, if I can't explain it, then I can't predict it. And the term BI had not even been invented back then. We had this very high profile bidding war between the EMC and NetApp at that time. by Frank Slootman. 3,990. The Dutch have all always been enterprising. To inquire about a licence to reproduce material, visit our Syndication site. Order a copy of AMP IT UP here. But then, you go like, "Oh, this is the rest of my life." Data Domain was really an interesting company. And Mike was still the CEO at ServiceNow at that time. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. Because that's what it is. Yeah. So like, "Look, I'm not going to be doing the same races over and over again." That's when you're at risk. And we publish the data transparently on our site, so anyone can come and see what actually happened in the auction. Chief Executive Officer & Chairman. In July 2017, two years before he took over as the chief executive of Snowflake, Frank Slootman raced 2,225 miles across the Pacific Ocean, from the And when you let it happen, you get feed-ups. But the issue with the acquisition, by the way, I've never sold a company in my life other than that one, so I'm not prone to selling at all. 61/100. I don't care for any of 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. I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." Bill McDermott, President and CEO, ServiceNow, What makes Frank the best technology CEO on the planet: he sets and then beats unreasonably high expectations; he is a high-integrity people leader; he makes the strategy clear to all; and he is a fearless leader willing to do whatever it takes to win. And eventually, we totally crushed that market because we could address any and all use cases that were out there. Your purchase was successful, and you are now logged in. Slootman's comments came after shares of Snowflake tumbled as much as 8 percent in extended trading after the companyreported fiscal first-quarter results. It's been extremely successful since we took over. Snowflake offers a cloud-based data storage and analytics service, generally termed "data warehouse-as-a-service.". They knew exactly what we meant. They always have a twinkle in their eye and they're going to do this, they're going to do that. And also in sailing, you're always looking for new adventures, different platforms and things of that sort to sort of keep it interesting, continual learning experience and so on, rather than rinse and repeat. In other words, as a leadership team, it's not just the CEO. Yeah, in some areas it's easier than others, and in sales, we can just look at what people have done the past. Snowflake Inc. was founded in July 2012 in San Mateo, California by three data warehousing experts: Benot Dageville, Thierry Cruanes and Marcin ukowski. We will talk to you next week. Now, as the story goes, England followed the Netherlands in control of Manhattan. Okay? And how that allowed him to grow Snowflake into the biggest software IPO ever, and how. But your culture is the only thing that's really unique to you and everything else is up for grab for anybody else. I mean, in the book, Frank, you used the analogy of getting in the right elevator. Frank Slootman currently serves as Chairman and CEO at Snowflake. No, I didn't. And by the way, for most people, that's a very difficult question. I can't get you aptitude. So in hindsight, I understood that I was just burned out, classic burned out. 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 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 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 doesn't matter how big we are, as long as we have a compelling mission that we want to get up for every day and swing for defenses and then, it's not hard. And by the way, the inverse of that is what are you not good at? 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. Who can solve what set of issues, right? Over his distinguished career, Frank has mastered the process of fundraising scaling and building young companies into unicorns with the run ending eventually way back here at the corner of Wall and Broad Streets with an initial public offering. I'm just, I'm fighting that tide. In Amp It Up, you're pretty open about the struggles the company faced in its business and leadership. And it was really my wife who said, "No, no, we'll go. Investors know this about us. 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. Get full access to the Bozeman Daily Chronicle's award-winning news and sports coverage, as well as arts and entertainment, opinions and more. While he was CEO of Santa Clara-based ServiceNow Inc. he contributed The ambitions that happen, the boldness that happens as a result of that, that becomes the magic. But if you're performing at Tom Brady's level, you have no reason to step aside. So I've been very different from early days of Data Domain, later days of Data Domain, early days of ServiceNow. There's no doubt, I'm a total hybrid here. In other words, swarm to it instead of distance yourself from it. Board, Speakers If you forget it, you'll be able to recover it using your email address. Because the essence of data science is you are trying to discover through historical data what the relationships are in your business. When you run companies, you need to narrow the plane of attack very, very quickly. I'm in New York. 89/100. And it's not just bad behavior, it's also good behavior. Yeah, it was a good problem. You guys are a data company, you know as well, right? 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. 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. It's just, it's hard not to be acquainted at some level with that culture. Architecturally, just damn near perfect, so. I really had to change from being an individual contributor or a small team leader to somebody who runs organizations. Frank Slootman - Chairman & CEO @ Snowflake So, we came up with this war cry that said, "Tape sucks, move on." Frank Slootman | Email Address | Phone Number Everyone's watching. And when you buy companies, it gets worse, right? If you want to be the best - Amp It Up is for you. " 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. Where does a CEO Frank find time to write two books back-to-back and what was the inspiration for Amp It Up? You really need to, look at yourself as an asset that can be applied in many, many different ways. 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. We tried to, we wanted to get into primary storage. The nascent liquidity of spot LNG freight markets, and the volatility of time charter rates has boosted demand for risk management tools. Meaning that we would run something like Tableau on top of Salesforce or whatever. And that's exactly what we did. When I was considering Snowflake, I told Snowflake, "I will not do this if Mike doesn't come along." 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. 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. This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. AMP IT UP: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity, Value Bunkers is basically a silo that's incredibly hard to access. 89/100. I mean, we lived in absolute terror. OReilly members get unlimited access to books, live events, courses curated by job role, and more from OReilly and nearly 200 top publishers. For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, 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, Independent Press Standards Organisation (IPSO). We are a Delaware corporation with a globally distributed workforce and no corporate headquarters, read a footnote at the bottom of a Wednesday Securities and Exchange Commission filing, which also listed Bozeman as the location for the executive office. Fred Luddy, the founder of ServiceNow, I mean, super talented guy, obviously. I'm Josh King, your host, signing off from the library of the New York Stock Exchange. [emailprotected]. And obviously, I got that in spades at UN Royal in Indiana. But EMC prevailed. The dream drivers that have made the NYSE an indispensable institution of global growth for over 225 years. 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. WebView Snowflake (www.snowflake.com) location in Montana, United States , revenue, industry and description. 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. Pat Gelsinger, CEO, Intel, Frank Slootman brings his practical experience of delivering success into plain sight for all of us to learn and be inspired by. Your mission is you're pursuing an end state or at least the closest thing to what you can envision, to what you want to realize as a couple. And then George Washington was sworn in as the first President of the United States, just a few feet from the front door of the NYSE on April 30th 1789. Hes an operations guru, the leader who turns a jet plane into a rocketship and makes piles of cash for investors, employees, and himself. It is a future state that we're all working on right now. 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? swig secret menu; pete postlethwaite brother; My Cart. Obviously, that industry had moved on to all kinds of different disk space technologies. SWOT Analysis of Snowflake Slootman focuses on the keys to mission-driven leadership discipline, proven to drive exponential growth and hundreds of billions of dollars in market value. 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? Snowflake runs onAmazon S3since 2014, onMicrosoft Azuresince 2018and on theGoogle Cloud Platformin 2019. I was like, "Jesus, I spent my whole life trying to get here. 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. The consequences of your action are like right there. The New York stock exchange sits at the Southern tip of Manhattan on the corner of Wall and Broad Streets. You must click the activation link in order to complete your subscription. Introductory offer for new subscribers only. Brad Gerstner, Founder & CEO, Altimeter Capital, "With Frank, it all starts and ends with hardcore and focused execution." Our guest was Frank Slootman, the Chairman and CEO of Snowflake. Snowflake Inc. - Wikipedia That is how you energize companies. And then Snowflake is again, a totally different. The company recently announced it will be We're going to nuke an entire industry out of existence. Invalid password or account does not exist. The IPO was the The company is credited with reviving the data warehouse industry by building and perfecting a cloud-based data platform. Snowflake was founded in View Profile View. Right? Subscribe today! And you can take it or leave it and try it on for size and see if you like it." The company recently announced it will be moving its corporate headquarter from San Mateo County, California, to Bozeman, Montana. I mean, what drove you to move on? Right? 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? 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. But let's focus on another dilemma that brought up in the book, Frank. But the world of backup and recovery, was dominated, as you said, by tape automation technologies. What is the core of your being, right? In other words, "How fast does this might work?" So, I did. And it's like, "Well, why does that matter?" Now, you can manage LNG freight risk with ICE LNG freight futures contracts, which join our global natural gas complex. You can sign up for additional alert options at any time. And it's very rare to create that kind of value. I don't have to go work on Monday. It allows corporate users to store and analyze data using cloud-based hardware and software. 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. Yeah. 88 /100. Sometimes that is hard for American audiences. What are your God-given talents? And the other thing I'll say is we maintain a very, what we call a malcontent attitude. You could eject the tape from a tape drive and you could ship it off site. So, what are things that we should absolutely not ask you to do ever? 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. Create a password that only you will remember. Right? I use that expression a lot to say, "Look, data operations is going to become your core." It wasn't, and the company wasn't failing financially on its growth objectives. I mean, Dutch people are incredibly hard driving, no nonsense, can't suffer bullshit type of people. I hate to break it to the audience, but that is the way that it is. And you had literally physical media that could logistically manage. Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. I mean, I still remember that we were in countries like France, where we had like a $10-million business, which was very small. Frank has over 25 years of experience as an entrepreneur and executive in the ent Because now, now you're going to look people in the eye, and say, "Look, this is the way we're going to be. 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. A term that gets used a little bit too much in too many places. Snowflake, Customer I'm buying aptitude and then I'm going to develop that with experience, right? What goes around, comes around and the Dutch get around the world. I remember having a conversation with the CEO of a very large healthcare company. Slootman urged Snowflake investors to be patient with stock during multiyear cloud transition. I mean, you're not going to get excited, "Well, we want to grow 100% this year." 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 The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. (Graphic: Business Wire). 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's awesome. Several questions from the Chronicle seeking more information from the company were left unanswered Friday, including the size of the Bozeman offices and whether the company was planning on hiring locally. Submitting this form below will send a message to your email with a link to change your password. SNOWFLAKE CEO Frank Slootman has asked his shareholdersto stay the course due to the company's cloud transition. Learned an awful lot in that period of time. And there were many, many players in that segment, by the way. Bureau, Marketing He said, "Because you guys are indicting everything I've done." And then obviously, a business that was at a sense of itself, of its product lifecycle, which has its own unique set of challenges. In 2003, he became CEO of storage startup Data Domain, taking it public in 2007 and selling it to EMC in 2009 for $1.8billion. Wherever data or users live, Snowflake delivers a single data experience that spans multiple clouds and geographies. And for example, when I joined Unysis, I ended up in a corporate planning role. 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. We're two sides of a coin, which is a reason why we've shown up in so many companies together. 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? In 2011, you joined ServiceNow, a name that's really quite familiar to our listeners where you were confronted by that old conundrum of the CEO founder that we've discussed on this podcast before. In other words, you got to really mean it, okay? We played a round of golf. If youre a VC, CxO, EVP, SVP or VP I mean, we had like 15X, the X of the next nearest competitor. 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. Did Frank Slootman Leave ServiceNow You relate well to that way of thinking. The company is credited with reviving the data warehouse industry by building and perfecting a cloud-based data platform. I mean, that's how aligned this is, okay? 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. We won't share it with anyone else. That culture really keeps you safe from being indulgent or just, you're sort of presiding. And then my career thrived as each sort of, it veered just taking on jobs that nobody else would take, in other words. Mike Speiser, Managing Director, Sutter Hill Ventures, "What an incredible leader Frank is. That's really what you want to preserve rather than layers and layers and layers and channels of communication. What was that? Okay. Stories, Leadership & It was able to separatecomputer data storagefromcomputingbefore Google, Amazon and Microsoft. Snowflake CEO Collects a $108 Million Payout Every Unlike most CEO books today, this is a plain spoken, hard driving, attack oriented, precision obsessed offense. Snowflake shares are also down 16 percent year to date, as investors have rotated out of high-flying growth names into economically sensitive companies that stand to benefit from the Covid recovery. So, understanding that is really important because obviously, you can't fight it off unless you understand where it's coming from. I mean, it gets rid of you. The IPO was the third for Slootman, who moved to California for a job at Compuware in the dot-com boom, then worked at Borland Software.