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? We're going to nuke an entire industry out of existence. In other words, as a leadership team, it's not just the CEO. 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. They knew exactly what we meant. 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. I mean, you brought in some reinforcements when you started at Snowflake, including Michael Scarpelli, who was your CFO at Data Domain and ServiceNow. Because if I sailed before, I always felt guilty because I was doing something that wasn't the company and now, I was completely free of guilt because it was my own time, my own money, et cetera and it was great. Most people just preside over culture. And then of course, Michael Dell found just as attractive to bring EMC into Dell. I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? 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. 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. Once you start doing that, you need to take yourself out of the game. So, I really lift that cross and the chasm dynamic. Here's your host, Josh King of Intercontinental Exchange. 3,990. Dageville and Cruanes previously worked as data architects at Oracle Corporation; ukowski was a co-founder of the Dutch start-up Vectorwise. And I had already made a little bit of a name for myself in the company. The company is credited with reviving the data warehouse industry by building and perfecting a cloud-based data platform. There's no doubt that the successes that we have had, our function of the combination of our respective orientations in how we come at the world. It became very meaningful to them. 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. As we're recording this in early 2022, the competition for talent has reached a boiling point. And when you let it happen, you get feed-ups. Email notifications are only sent once a day, and only if there are new matching items. 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. The Dutch have all always been enterprising. I'm a proud US citizen, but at the same time, there's no negating my Dutch roots. The company recently announced it will be 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. 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, we lived in absolute terror. I'm the opposite. 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 mean, what drove you to move on? There's no doubt, I'm a total hybrid here. And I say, "Stop putting labels on yourself. 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. They all do and for a good reason. Thanks so much for joining us inside the Ice House. It was super interesting to me, sort of my first encounter with American management. Snowflake CEO collects a $95 million payout every month 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. I was just shot. Slootman stressed that the companys software is only becoming more important as enterprises shift away from databases tied to hardware. I mean, it's a hell of a cash burner as well. It was able to separatecomputer data storagefromcomputingbefore Google, Amazon and Microsoft. That culture really keeps you safe from being indulgent or just, you're sort of presiding. 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. 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? Get the world to sort of move onto a different technology platforms, et cetera. Okay. And we introduced a centrally cleared model with ICE as the central counterparty, because that makes it much easier for new firms to join. The tech firm, founded in 2012, helps businesses manage and analyze data stored on its cloud. Did Frank Slootman Leave ServiceNow Juliana Sukut can be reached at 582-2630 or jsukut@dailychronicle.com. It's lights out, light speed and then fully disintermediated and it's fully programmatic. And people would eyeball those reports in those dashboards, and that was sort of the extent of it. It's been extremely successful since we took over. And I was like completely taken aback because there not a single thread thinking about that, considering that, considering any role of any sorts. Those are all disciplines that leverage where they are, right at the headwaters off the entire European continent. If you value these stories, please consider subscribing. Our show is produced by Pete Asch, with assistance from Stephan Capriles, Ian Wolf, and Ken Abel. Sr. PR Manager, Snowflake This is the fundamental premise of a hard hitting new book written by Frank Slootman, chief executive of Snowflake Inc., and And essentially, he defends. Never seen the inside of an office or anything. It's hard to get off of that. Large cloud share company moves executive offices to Yeah, there's no doubt. Labs, Leadership & Everybody has ideas. Snowflake CEO Slootman has been spending a lot of time in Montana in recent years. I mean, you're not going to get excited, "Well, we want to grow 100% this year." So, we came up with this war cry that said, "Tape sucks, move on." They're very lonely in their jobs. See what you can do with it" to data driving operations directly, right? No, we're talking about stuff that's not working well. And that really allowed me to do this at 6:00 AM on weekdays and weekends and the holidays. The new office is downtown at 106 E. Babcock St. We have designated our office in Bozeman, Montana as our principal executive office, as that is where our Chief Executive Officer and Chief Financial Officer are based, a spokesperson said in an email. Frank Slootman And everybody was like, "Who's Data Domain? But it's also, you attack and you cross again. But backup recovery still largely dependent on tape and tape automation technology, so we created a tape. 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. It was just a beautiful thing when a company has massive scale and distribution, what a good product that gets entered into that context can do in a short period of time was mesmerizing. The companys CEO Frank Slootman owns a ranch in Montana, Forbes reported. Thats sort of the message to investors to really understand were signing on here for a journey thats five to 10 years.. Slootman owns about 10 percent of Snowflake. Snowflake Inc. was founded in July 2012 in San Mateo, California by three data warehousing experts: Benot Dageville, Thierry Cruanes and Marcin ukowski. Thomas M. Siebel Chairman & CEO. "Over the last 20 years I have been fortunate to watch Frank Slootman build a Hall Of Fame career. WebSlootman has spent a lot of time and money in Montana in the years. But if you're performing at Tom Brady's level, you have no reason to step aside. And that went on literally for years, okay? 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. Phone Email. SNOWFLAKE CEO Frank Slootman has asked his shareholdersto stay the course due to the company's cloud transition. And you had literally physical media that could logistically manage. This is very much a country that believes things that other countries don't believe. Snowflake Inc. CEO Frank Slootman apologized in a blog posted on Monday about comments he made to Bloomberg TV last week in which he said diversity should Buyers and sellers can come together. It allows corporate users to store and analyze data using cloud-based hardware and software. What attracted you to the space? You could have a meeting in the hallway with the entire company. It takes a ton of work to maintain intense focus on the mission, so that's the weaponizing. And he and I were serving on another board together and every time we we'd go to our quarterly board meetings, we'd have lunch and discuss the state of a affairs in the world and blah, blah, blah, sort of thing people do in Silicon Valley. I can't do every speaking engagement," et cetera. Analytics, Hands-on It was very formative. Search the complete digital archives for all papers in the Pioneer News Group. I look at the situation, "What does this require?" SWOT Analysis of Snowflake Fred Luddy, the founder of ServiceNow, I mean, super talented guy, obviously. It's like it's full of feedback. Snowflake was founded in 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? Dun & Bradstreet I don't know what, if you go back to those days. And fortunately, the temperament that is in you, it's going to re-manifest itself sooner or later. I think EMC was exactly the right acquirer because they just sort of had the orientation and the scale and the intensity culturally. And for example, when I joined Unysis, I ended up in a corporate planning role. Thousands of customers across many industries, including 223 of the 2021 Fortune 500 as of October 31, 2021, use Snowflake Data Cloud to power their businesses. Frank Slootman Chairman and CEO at Snowflake Bozeman, Montana, United States 35K followers 500+ connections Join to follow Snowflake Erasmus Where I come from, people are quite resigned to their fate. I mean, the results speak for themselves. This is a country that's very aspirational. It's not that easy. Snowflake ukazuje, e zprvy o smrti cloud jsou pehnan 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. Subscribers get full, survey-free access to the Bozeman Daily Chronicle's award-winning coverage both on our website and in our e-edition, a digital replica of the print edition. That is how you energize companies. Frank, you write about trying to convert your experience, taking on the hard problems of your employer, into making a path to the C-Suite. Thats sort of the message to investors to really understand were signing on here for a journey thats five to 10 years.. 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. 2. 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. Who is Snowflake CEO Frank Slootman? | The US Sun 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? View source version on businesswire.com: And it worked like that for about a hundred years. Information contained in this podcast was obtained in part from publicly available sources, and not independently verified. Nothing to do with financial targets or growth targets or market capitalization. I mean, it's like when people start to roll their eyes. Amp It Up is a recipe we can all apply. Now, for us, it's a data Cloud. Software was barely an industry. 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. Slootman's comments came after shares of Snowflake tumbled as much as 8 percent in extended trading after the companyreported fiscal first-quarter results. The three-time CEO and industry leader spearheaded the largest software IPO in history for Snowflake in 2020, previously led IPOs for both Data Domain and ServiceNow. Two years later, he became chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. Don't typecast yourself." I mean, the only thing that energizes people and teams and organizations and companies as a whole is the mission. 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 He's like, "How do we run a supply chain?" Data has no opinion. swig secret menu; pete postlethwaite brother; My Cart. Like Databricks, Snowflake also works within the Analytics sector. So, because we all have our that's sell of awareness. Engineers should have a very easy time discerning the talent, so. Snowflake offers a cloud-based data storage and analytics service, generally termed "data warehouse-as-a-service.". And it's just, it's intoxicating that energy. I'm in New York. So in hindsight, I understood that I was just burned out, classic burned out. 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. Frank Slootman We won't share it with anyone else. 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. It was an application development and runtime platform to run on both Unix and OSU and Windows all at the same time. 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. Okay, it's real easy and in engineering, they put guys on the whiteboard and they give them problems. We're not trying to find fault with people or who did what to whom. Welcome, Frank, inside the Ice House. I hate that. 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." WebPortuguese products available Online we mail to all lower 48 states. Can you explain how you overcame both to lead the company through its 2012 IPO? Snowflake went public in September ina record-breaking IPO, with shares closing that initial trading day at $253.93, however, the stock was below that level on May 26. 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. Exponential growth is a critical goal for todays emerging ventures. 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. Everybody has access to capital. I mean, you probably have even a sense of things that you know you're not good at. Meaning that we would run something like Tableau on top of Salesforce or whatever. I remember having a conversation with the CEO of a very large healthcare company. 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. In AMP IT UP, he shares how leaders can convert lingering potential into superior results with the resources they already possess. And Americans always think that there's an easy answer to these questions. Because they can't understand how spending categories can just explode overnight like that. I mean, there's many jobs in companies and some of them are quite far removed. Our business is really going to conduct itself really over considerable, long periods of time, Slootman said in an interview with CNBCs Mad Money. 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. On May 26, Slootman asked shareholders to be patient with the companys stock because the cloud transition is not happening overnight. I'm just, I'm fighting that tide. Learned an awful lot in that period of time. And now, welcome inside the ICE House. When I was considering Snowflake, I told Snowflake, "I will not do this if Mike doesn't come along." We want to bring about something in the world of computing that has never existed before and we are consumed by our mission. Now, most organizations are incredibly in up still in terms of their data promise. And by the way, data platforms have been extremely fragmented historically. At Data Domain, he built an intensity around clear business priorities and the customer value proposition and drove it through the organization daily. And there were many, many players in that segment, by the way. Slootman urged Snowflake investors to be patient with stock during multiyear cloud transition. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. And now, I feel like I'm being haunted, by this Dutch thing, this cloud that's hanging over me." And Frank, while you were getting your degree from the Netherland School of Economics, you came to the US for an internship with UN Royal and returned after graduating to get a job at Burroughs, which is now Unysis and ticker symbol, UIS. After submitting your request, you will receive an activation email to the requested email address. What's the silver bullet? I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." Correct, correct. We had no experience. They've never really been asked that before. Sometimes that is hard for American audiences. Slootman owns about 10 percent of Snowflake. We were entertainment for Wall Street for a six-week period. Who can solve what set of issues, right? And by the way, insurance companies are already pretty data savvy, but every single industry is experiencing these kinds of questions. They're very far removed from the drive train. 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? Frank Slootman currently serves as Chairman and CEO at Snowflake. And then Snowflake is again, a totally different. Thanks for listening. 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. Frans van Houten, CEO, Royal Philips. 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). The nascent liquidity of spot LNG freight markets, and the volatility of time charter rates has boosted demand for risk management tools. Publisher (s): Wiley. And that's the American flavor and flare that has built up over three, almost four decades. It will be fine. Frank Slootman - Forbes In any successful company just ask them, they will attribute success to their culture. His company's listing here at the NYC in September 2020 was the largest software IPO in the history of the US capital markets. The companys CEO Frank Slootman owns a ranch in Montana, Forbes reported. 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. 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. We're always picking at things that could be better. And like, "How fast does this guy type?" And it's very rare to create that kind of value. 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. Snowflake moves executive office from California to When you get that sensation, you do need to leave because you're no longer the right person for that situation. Now, as the story goes, England followed the Netherlands in control of Manhattan. View Profile View. A lot of people think that that's possible, but there's a real limit to what salespeople can and can't do. Early days of ServiceNow was just jungle fighting. 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 let's focus on another dilemma that brought up in the book, Frank. And I said, "Why not?" 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. So, I just had some peripheral view of the company, as well as its strategic challenges, by the way. I mean, I still remember that we were in countries like France, where we had like a $10-million business, which was very small. And of course, the appetite is insatiable for both technology and people that know how to make this future happen. Comparably score i. 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. Snowflake joins California exodus, moves executive Now, we're going to go move the pieces and I'm just a piece on the chessboard." They want to know what good behavior is. One of the worst, worst in the English language for me. The New York stock exchange sits at the Southern tip of Manhattan on the corner of Wall and Broad Streets. People that the company really, really runs on. 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. Because, if I can't explain it, then I can't predict it. 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. Order a copy of AMP IT UP here. And you can't play chess pieces in a million different ways, right? I always tell my own people, "Look, I'm a piece on the chessboard, okay? Slootman has also contributed money to political campaigns for both Gov. Real-time trigger alerts. It's up to 79% of the volume has gone cleared. 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). A multi-billion dollar cloud-based data company announced this week it had relocated its primary offices to Bozeman. 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. Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career. AMP IT UP empowers executives, entrepreneurs, founders, managers, and leaders of all kinds, to unleash the growth potential of a company, and scale it to new heights with urgency and intensity. But it's not what it really is, so it wasn't an enormous surprise to me to come here. And the reason that I found it so interesting is technology was mesmerizing. 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). Board, https://www.businesswire.com/news/home/20220119005295/en/, Snowflake for Advertising, Media, & Entertainment. 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. They always have a twinkle in their eye and they're going to do this, they're going to do that. Well, the number one bit of advice I would have is make sure you're close to the drive train. Slootman, 61, is a professional CEO. And it's like, "Well, why does that matter?" We left off before the break with your decision to literally set sail after 33 years of a career that took you all over the globe, including bringing two companies public. But the problem with tape was, I mean, tape got lost, tape became unreadable. That's the point of it. But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. Why did you give up the helm of the invisible hand for this new role with Snowflake? Frank has over 25 years of experience as an entrepreneur and executive in the ent 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. By providing your email address below, you are providing consent to Snowflake to send you the requested Investor Email Alert updates. They also appreciate it. Make the connection to a global natural gas market at ICE, get started with ICE LNG freight futures today. Well, you think you're just going to turn it off? Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? The company's first CEO was Mike Speiser, a venture capitalist at Sutter Hill Ventures. 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. Well, building culture is a very forceful thing. Snowflake, Customer So, we were just picking over use cases here and there to sort of stay alive in the early days. So, she talked me into it because I was on the verge of saying, "Look, I'm not going back there." And opinions, everybody's got one, but data doesn't lie. Slootman has spent a lot of time and money in Montana in recent years. And that is our culture. Frank Slootman - Chairman and Chief Executive Officer 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.