By the close of. But predictably, we already talked about Dutch culture, that relationship between the American parent and the Dutch subsidiary didn't go so well. When you get that sensation, you do need to leave because you're no longer the right person for that situation. Early days of ServiceNow was just jungle fighting. The good thing is you dont have to actually sit in with Slootman to get his lessons. Slootman may be someone you wouldnt be comfortable sitting face-to-face with, but hes definitely someone you can listen to in a room full of people. But . How does having who's worked closely with you for years help you accomplish your goals of hyper growth without losing focus? Right, you got a good point. So in other words, I did not accept the Snowflake role until, Mike said, "I'm coming along.". And then I change myself to become that flavor of CEO. People were looking at my credentials. I mean, I still remember that we were in countries like France, where we had like a $10-million business, which was very small. But 233 years later, American, Dutch and British interests are inexorably intertwined. Reflects change since 5 pm ET of prior trading day. This is a country that's very aspirational. I'm just, I'm fighting that tide. Sometimes that is hard for American audiences. Listen to this episode from This Week in Startups on Spotify. Leaders such as Slootman, Scott McNealy , Jayshree Ullal and my old boss Pat McGovern have inspired me over the. This is a very buoyant country. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. Slootman previously served as CEO for Data Domain and for ServiceNow, which he both took public. I mean, the only thing that energizes people and teams and organizations and companies as a whole is the mission. What is the core of your being, right? I think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. This is really think about it as a database in the Cloud. It's lights out, light speed and then fully disintermediated and it's fully programmatic. 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. 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. Because you're like, "Oh, this is great. It is data operations from the most transactional to the most analytical and everything in between, so. Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? They're very safe. 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." It was the lowest ranking job in the entire world of IT, if you were involved with tape automation. It takes nothing. In this technological era, the field of analytics is vital as it makes it easy to access needed information without much of a hassle. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. I mean, it's like when people start to roll their eyes. The Frank Lloyd Wright (R) Suite will be accepting bookings from January 24, 2023, through March 31, 2024. . Now, you can be very obstinate about it and say, "Well, I'll eventually cross that bridge when I come to it," or you can try to anticipate it and say, "Okay, I'm going to find somebody who has the resources that I do not possess." Well, that's another thing I don't think about that. I remember having a conversation with the CEO of a very large healthcare company. JP Morgan paid $175 million for a startup it believes it was conned into buying. While most CEOs would be described as the person who would take their company to the moon, Slootman has been referred to as the person who would take his company to Mars. Those are the people that are right there, where the people that bring home the bacon, there when the shit hits the fan. You can't help but run into Dutch people everywhere because they have such a small country. And the product was insanely fast, completely automated. All Rights Reserved. Data Domain went public in 2007, but two years later acquired by EMC, in my home state of Massachusetts. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. This article "Frank Slootman" is from Wikipedia. It was sort of an adjunct to what they called the computer industry back then. And you can take it or leave it and try it on for size and see if you like it." Yeah. What goes around, comes around and the Dutch get around the world. But it's also, you attack and you cross again. 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 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. Scale is definitely a problem because you get layers and layers and you got the problem of having tons of passengers on the boat, all these types of issues. And 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. 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? I mean, there's many jobs in companies and some of them are quite far removed. Snowflake now has Frank Slootman as chairman and CEO. Back then, there were hardly any software companies around. It could address very few use cases. This boat actually won Slootman the 2017 Transpac Honolulu Race in 2017. And when you buy companies, it gets worse, right? Okay? Each week, we feature stories of those who hatch plans, create jobs and harness the engine of capitalism, right here, right now at the NYSE and at ICE's exchanges and clearing houses around the world. 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 . You speak the language, like we do, but there is something different about you." And then being able to talk about it in an intelligent, really rich-considered manner. New competitors, new partner ecosystems, so it was like, "Wow, this is the future." And when you're burned out, you don't regenerate anymore. And it was really my wife who said, "No, no, we'll go. They're kind of like-. And it's not just bad behavior, it's also good behavior. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. Snowflake CEO Frank Slootman Leading for Hypergrowth 2,637 views Jan 15, 2022 Frank Slootman is an American billionaire businessman, individual investor, technology executive, and the. I mean, it's hard to believe at this day and age that things were that way back then, but they were. You have served, as I intimated in the introduction, as the CEO of companies in Silicon Valley and now, Montana, but your story really begins 5,500 miles away from the West Coast. [2], In May 2019, Frank Slootman joined Snowflake Inc. as its CEO. 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. Others might say that hes completely brash. Given his accolades, Slootman gets invited to speak at many events. 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). I'm in New York. The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? They only learn from consequences, so you got to create consequences, good and bad when things happen and things happen all day long. 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. 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. 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. Steve Jobs didnt even own 1% of Appleeven though he had millions worth in shares. Did you always have your eyes set on a career in the US? Those are all disciplines that leverage where they are, right at the headwaters off the entire European continent. to keep connected with us, please login with your personal info. They did not try to carry technology or ways of thinking forward. But the problem with tape was, I mean, tape got lost, tape became unreadable. Thanks so much for joining us inside the Ice House. right? I mean, we had like 15X, the X of the next nearest competitor. 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. And rightfully so, by the way, because they have created something, right?. No, I didn't. And eventually, we totally crushed that market because we could address any and all use cases that were out there. welcome back! I mean, Dutch people are incredibly hard driving, no nonsense, can't suffer bullshit type of people. And by the way, for most people, that's a very difficult question. I mean, that's how aligned this is, okay? But yeah, where the inspiration comes from, we've had three very successful companies in a row, so you get barraged by requests for, "Hey, can you explain to us what the secret sauce is? Frank Lloyd Wright Home and Studio. But then, there's new platforms in terms of the Public Clouds, right? 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. 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. Slootman said diversity comes second when making . I can just blow a year on doing some other stuff that's interesting." And that's exactly what we did. That's not a healthy dynamic. And people are, are mesmerized by Snowflake results because they don't quite understand, where is this coming from? 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. It's like it's full of feedback. Snowflake CEO Slootman Scores IPO Hat Trick With Big Bet on Data Software company aims to benefit from companies increasingly storing information in multiple clouds Big tech firms are investing. The. Wikitia is not affiliated to Wikimedia Foundation. 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. Quick digression. No databases of scale and no file systems with scale. Let's go." Snowflake is Slootmans third IPO. The former Frank CEO said JP Morgan had full knowledge of Franks customer data before the acquisitionand Chairman Jamie Dimon personally pushed for it to happen. [1] In June 2012, ServiceNow became a publicly-traded company as Frank Slootman led the company through a $210 million IPO. And are there any particular secrets to building a consensus around the idea of change? Because they can't understand how spending categories can just explode overnight like that. Meaning that we would run something like Tableau on top of Salesforce or whatever. 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. Spark 30S covers a route between the US Gulf coast and Northwest Europe, while Spark 25S covers a route between Australia and China. 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. And that's, I had a question the other day from somebody that hit me on LinkedIn and he was putting all kinds of labels on himself. The ecommerce industry is one of the fastest-growing sectors, and at the moment, it features several players. Better, better all the time. In other words, somebody who has lived their lives over and over. That is the most, that is so unproductive. In Amp It Up, Frank, you say that a company's mission really has to be weaponized. 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? I mean, to this day, with all the other things that we've done, I still treasured that experience greatly and it's still a very large business to this day. Here's why this makes sense while looking at some options. He also scaled the workplace back tremendously from stunning spaces in San Francisco to headquarters in San Mateo. The founder brings you in to scale up the company, but finds it difficult to step aside. 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. But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. Tej, Read More 10 Things You Didnt Know about Tej VirkContinue. Frank has been involved in the business programming market for over 25 years as a business visionary and chief. 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. You can only sail so much, [crosstalk 00:31:19]. I'm on the phone with customers every day. 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 says, "If I have a problem in a state like Florida, where bodily injury claims are disproportionate to surrounding states, what explains that? Perhaps thats exactly the kind of leadership that gets a million-dollar business into the realm of billions. But one of those issues was that taken over from a founder CEO was really, really hard. The San Francsico 49ers admitted that they might be forced to go quarterback hunting this offseason. 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. But in the end, it's like we have to get into backup software in which we tried. They were all special purpose for this thing and that thing and that has really created a lot of problems for data center operations, because they just had a Frankenstein architecture out there and people are sick of that. The IPO was the third for Dutch-born Slootman,. 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. And it wasn't charged for, so companies just couldn't build software because it was just given away. Yeah, it was a good problem. I need to know what that is. Read More 10 Things You Didnt Know About Paul StovellContinue. Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. And essentially, he defends. They always have a twinkle in their eye and they're going to do this, they're going to do that. It was super interesting to me, sort of my first encounter with American management. And I said, "Why not?" After joining almost at the start in 2003, Slootman helped. 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. But the world of backup and recovery, was dominated, as you said, by tape automation technologies. You want to be that person, okay? But one day, and this was in March of 2019 and he said, "What would it take for you to take the helm?" All of which is presented solely for informational and educational purposes. Nothing herein constitutes an offer to sell, a solicitation of an offer to buy any security, or a recommendation of any security or trading practice. No, we're talking about stuff that's not working well. Right? Look, I'm not a certain type of CEO. Of these, six were built: the Imperial Hotel and Annex, the Jiyu Gakuen School, the Aisaku Hayashi . 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. 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. Creative Commons Attribution-ShareAlike. And now, I feel like I'm being haunted, by this Dutch thing, this cloud that's hanging over me." Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. The Dutch have all always been enterprising. And of course, people chuckled because they recognized it. Every week there was a new bid. 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. So, what are things that we should absolutely not ask you to do ever? No. When I was at ServiceNow, Fred Luddy, the founder, he said to me, at one point, "I really don't want to come to the staff meetings anymore." That's where we're at right now. I mean, people go from spending $50,000 a year to a million dollars a year in one year and they're like, and the CFOs go, "What the hell is this all about?" 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. It has certainly worked well for himself, for the companies hes worked under, the many investors that have poured money in his name, and so forth. I was like, "Jesus, I spent my whole life trying to get here. I mean, it gets rid of you. A term that gets used a little bit too much in too many places. So, this is not data warehousing, it's just one use case. Right. None of that stuff is material to your mission. CEO Frank Slootman made $287,990 in salary in 2019. Some may describe him as direct. I don't have to go work on Monday. Presiding is the worst word. So, I ended up going back to, I really didn't want to. I mean, in the book, Frank, you used the analogy of getting in the right elevator. Can you explain how you overcame both to lead the company through its 2012 IPO? The liberalization of LNG is creating a global natural gas market, with freight acting as a virtual pipeline between continents. If you want to know more about this CEO, this might be the book to read. We just never backed off of it. 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. 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. 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? We're always picking at things that could be better. If you like what you heard, please rate us on iTunes, so other folks know where to find us. Frank Slootman has written another book about how to run a business based on his time at Data Domain, ServiceNow, and Snowflake. They also appreciate it.