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 . And, likewise, when I go to Holland and I meet Dutch customers there, they kind of look at me with a smirk, like, "Yeah, I can tell you're Dutch. It's a small country, obviously, which is why they sort of veer far and wide. [23] 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. I mean, all these greats, right? 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. Frank Slootman - Narrow the Focus, Increase the Quality - [In Nothing to do with financial targets or growth targets or market capitalization. Obviously, that required even more resources, so we really had the strategic dilemma that we couldn't grow beyond our core market. That's the point of it. But then again, there really is only one Frank Slootman, IPO master in the world. They're kind of like-. If you want to know more about this CEO, this might be the book to read. It became very meaningful to them. And then obviously, a business that was at a sense of itself, of its product lifecycle, which has its own unique set of challenges. When I was considering Snowflake, I told Snowflake, "I will not do this if Mike doesn't come along." Right? 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. And that is a common thread through all our companies. Where does a CEO Frank find time to write two books back-to-back and what was the inspiration for Amp It Up? You speak the language, like we do, but there is something different about you." The biggest guess is that Frank Slootman simply had the track record for having previously taken data storage companies successfully out of trouble and into the future. That is how you energize companies. 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 mean, you're not going to get excited, "Well, we want to grow 100% this year." He published a book in 2011 called Tape Sucks. Some portions of the proceeding conversation may have been edited for the purpose of length or clarity. Steve Jobs didnt even own 1% of Appleeven though he had millions worth in shares. So now, we're having business conversations about data. And it's very rare to create that kind of value. And then of course, Michael Dell found just as attractive to bring EMC into Dell. Now, amid an ongoing legal battle, its got to clean up a very public mess. Read More 10 Things You Did Not Know About Thoughtspot CEO Sudheesh NairContinue, If you follow business news, you may have heard that on September 29, 2021, Totango announced it had raised $100 million in Series D funding. 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. What are your God-given talents? Career In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. Those are the people that are right there, where the people that bring home the bacon, there when the shit hits the fan. At 61 years old, Slootman has created quite the reputation for himself. It becomes the beating heart of a modern enterprise. The question is, what are you going to do? And when you buy companies, it gets worse, right? By the way, our two largest competitors were both bidding for the company at the same time. So, it's the story, what goes around, comes around, as I said at the beginning. 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. Thanks for listening. But EMC prevailed. Okay. And it wasn't charged for, so companies just couldn't build software because it was just given away. 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. 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. And we introduced a centrally cleared model with ICE as the central counterparty, because that makes it much easier for new firms to join. Frank's new book, Amp It Up: Leading For Hyper Growth By Raising Expectations, Increasing Urgency and Elevating Intensity, still is the leadership principles he's developed over his long career. And everybody was like, "Who's Data Domain? Different technologies, different markets, different competitors, different eras, different cultural times that we live in, you need to become, what that situation requires off you. 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. 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. And that's our conversation for this week. This sum is more than what the CEOs of Salesforce, Oracle, and even Microsoft was making. I'm like, "We're not trying to indict what you've done. Information contained in this podcast was obtained in part from publicly available sources, and not independently verified. They're kind of like whine and bitch all day. And by the way, insurance companies are already pretty data savvy, but every single industry is experiencing these kinds of questions. Everybody has access to talent. The dream drivers that have made the NYSE an indispensable institution of global growth for over 225 years. 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. His company's listing here at the NYC in September 2020 was the largest software IPO in the history of the US capital markets. He said, "Because you guys are indicting everything I've done." They always have a twinkle in their eye and they're going to do this, they're going to do that. I mean, it was doing well. Brady is a great example, but Joe Montana was that way and they all craved that energy, that excitement, that intensity, they can't let it go. And by the way, when you see the decline of very, very storage enterprises, you can pick MG and HP and and Intel and so on, what happened to these people along the way? Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career. Our first thought was "not again" - he co-wrote Rise of The Data Cloud last year. They knew exactly what we meant. Never heard of that company." 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." 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? How does that work at Snowflake? 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. Not all people are created equal in terms of their roles and their contributions in companies. 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. Africas largest economy is in the early stages of a monetary experiment that could be coming to the U.S. sooner than you think. In other words, as a leadership team, it's not just the CEO. 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. There's new business models. You really need to, look at yourself as an asset that can be applied in many, many different ways. A decade after his death, fantasy artist Frank Frazetta still towers over the pop culture landscape as new fans discover his work. The improvement in technology is one of the main reasons that this commercial scene is flourishing by the, Read More 10 Things You Didnt Know about Loggi CEO Fabien MendezContinue, Tableau Softwares President and CEO Mark Nelson defines Tableaus vision and supervises the companys business operations and procedures. And people that know the Dutch, and you seem to know to Dutch people, it's, fairly recognizable what the Dutch attributes are that are at play here. By the close of. Some may describe him as direct. 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. That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. The IPO was the third for Dutch-born Slootman,. So, they looked around and they found the guy with a passport to Dutch language proficiency like. You could have a meeting in the hallway with the entire company. We're two sides of a coin, which is a reason why we've shown up in so many companies together. 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. 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. So, we started to wind down a little bit. They sold the living hell out of that product. You're no longer using data to basically please a bunch of eyeballs, like, "Hope you like it. Snowflake now has Frank Slootman as chairman and CEO. Frank Horvat helped elevate fashion photography into high art, and with his thoughtful photographs, changed how we look at fashion altogether. Slootman is going to take Snowflake for quite the ride, and you have to decide whether youre getting in his car or not. 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. And did you have a sense that the sector was really about to explode? We actually won everything that we wanted to win. Welcome back. 2023 Forbes Media LLC. As Snowflake got bigger in 2019, the company knew it was time for leadership to take it to the next level and brought in today's guest, Frank Slootman, as CEO. 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?" Much like how he runs his companies, Slootman is always direct in his speeches. 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. I mean, you probably have even a sense of things that you know you're not good at. So in hindsight, I understood that I was just burned out, classic burned out. 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). Frank Slootman is the CEO of Snowflake, a cloud-based dataset organization he helped build in 2019. 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. 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If it's not related to our core mission, we don't want to hear about it. Strong personalities will just dictate culture in certain business units, in certain geographies and so on. Open main menu Close main menu Home About Us Contact Us States Advanced Search [22] In September 2019, it was ranked first on LinkedIn 's 2019 U.S. list of Top Startups. Obviously all the financial reporting, all the systems. It takes a ton of work to maintain intense focus on the mission, so that's the weaponizing. When a company is buying a million dollars from you in the course of a year, what are they getting? Given his accolades, Slootman gets invited to speak at many events. Frank Lloyd Wright designed some 14 buildings for Japan: an embassy, a school, two hotels and a temporary hotel annex, a commercial-residential complex, a theater, an official residence for the prime minister and six private residences. Snowflake CEO Frank Slootman on moving the needle, win-first culture & managing burnout | E1689. 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. Check out the subtleties of his Wikipedia below. Most people just preside over culture. But you mentioned this earlier, it isn't really what happened. I'm on the phone with customers every day. So, it sort of lit a fire under me, just the prospect of doing that, it just kind of brought me back from my burned out state in 2017 to two years, feeling incredibly challenged, energized, and sort of having a new leash on life, if you will take on something like that. Slootman previously served as CEO for Data Domain and for ServiceNow, which he both took public. But if you're performing at Tom Brady's level, you have no reason to step aside. 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. Instead, hes got something equally as coola sailing boat named The Invisible Hand. And all of a sudden, everybody is just high-fiving and doing victory laps and everything is beautiful versus reality is completely different. It was just like Formula 1 of sailboat racing. They also appreciate it. And how that allowed him to grow Snowflake into the biggest software IPO ever, and how. 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. See what you can do with it" to data driving operations directly, right? Everybody has access to capital. Between 2011 and 2017, Slootman was Chairman and CEO of ServiceNow - one of the world's leading SaaS . 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. Because that's what it is. And historically, people have tried to answer these questions anecdotally. 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 . 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. Where I come from, people are quite resigned to their fate. And are there any particular secrets to building a consensus around the idea of change? Whereas in business, it often takes so much longer to be confronted with the consequences of your actions and some people don't-. The interesting thing about data domain was it was very, very slow going. And that's all coming up right after this. And companies that have been around a long time, it's near to impossible to undo the culture. 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. Not exactly like a year and a half, he'd been there for seven years. We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. And fortunately, the temperament that is in you, it's going to re-manifest itself sooner or later. And we publish the data transparently on our site, so anyone can come and see what actually happened in the auction. Hes quite knowledgeable in the market industry, and he doesnt confuse with unnecessary jargon. And after a while it's like, "Look, I can't do one-on-one meetings with a million people. Take our own company, Intercontinental Exchange, for example. Yeah. I actually wanted to retire, truth be told. Why did you give up the helm of the invisible hand for this new role with Snowflake? 10 Things You Didnt Know about Loggi CEO Fabien Mendez, 10 Things You Didnt Know about Mark Nelson, 10 Things You Did Not Know About Thoughtspot CEO Sudheesh Nair, 10 Things You Didnt Know About Guy Nirpaz, 10 Things You Didnt Know About Paul Stovell, How Ali Wong Achieved a Net Worth of $3 Million, Eight Reasons to go to French Polynesias Marquesas Islands, How Lisa Rinna Achieved a Net Worth of $10 Million, 20 Cities with The Worst Weather in Europe. Every week there was a new bid. You can only sail so much, [crosstalk 00:31:19]. And I had already made a little bit of a name for myself in the company. Because you're like, "Oh, this is great. And if I can't predict it, I can't change my policy, I can't change my pricing." 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. Its none other than CEO Frank Slootman, and here are 10 things about the guy behind the current Snowflake craze. Yeah, yeah. And it was really my wife who said, "No, no, we'll go. Prior to joining Snowflake, Frank served as the CEO of ServiceNow and that's NYSE ticker symbol, NOW and Data Domain, leading both of those firms successfully through their IPOs. So in other words, I did not accept the Snowflake role until, Mike said, "I'm coming along.". What goes around, comes around and the Dutch get around the world. Frank Slootman currently serves as Chairman and CEO at Snowflake. I mean, we have bumper stickers and people would at trade shows would stick them on tape libraries. You can't help but run into Dutch people everywhere because they have such a small country. Now, as the story goes, England followed the Netherlands in control of Manhattan. 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 super interesting to me, sort of my first encounter with American management. And we feel the consequences of our actions every minute of the day. And I'm like, "You know what? One of the worst, worst in the English language for me. He knows what problems exist in his field today, and he knows how to address them as well. You come with aptitude. [3] On September 16, 2020, Snowflake made an IPO, selling 28 million shares and raising $3.4 billion, making it the largest software IPO in history.[4]. Fred Luddy, the founder of ServiceNow, I mean, super talented guy, obviously. I can't do every speaking engagement," et cetera. 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. It will be fine. We cannot just read our emails and have a few phone conversations and know what's going on. A compensation package he received upon joining Snowflake in April 2019 awards him a. But the essence of what I'm getting when I hire you is what you're innately good at. Helping women become better in negotiation is an urgent and essential task for organizations and individuals. I mean, Dutch people are incredibly hard driving, no nonsense, can't suffer bullshit type of people. He's a pretty good golfer. He's like, "How do we run a supply chain?" Paul Stovell is an Australian businessman and entrepreneur who serves as the current CEO of Octopus Deploy. Investors know this about us. But in the end, it's like we have to get into backup software in which we tried. They want to know what good behavior is. Early days of ServiceNow was just jungle fighting. At 61 years old, Slootman has created quite the reputation for himself. And people would eyeball those reports in those dashboards, and that was sort of the extent of it. The good thing is you dont have to actually sit in with Slootman to get his lessons. 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 . After the break Snowflake's CEO Frank Slootman and I are going to preview and review some of the other lessons in his new book, Amp It Up. What's the silver bullet? You want to be the playmaker and the people that they're going to pass the ball to when we have two seconds left in the quarter, that kind of thing. Better, better all the time. I use that expression a lot to say, "Look, data operations is going to become your core." Now, we're going to go move the pieces and I'm just a piece on the chessboard." 951 Chicago Ave., Oak Park, IL 60302. And it's just, it's intoxicating that energy. I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again."

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