I mean, that's how I felt at that time, like I had no more to give. Obviously all the financial reporting, all the systems. And it was really my wife who said, "No, no, we'll go. 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. 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. Our headquarters is in Atlanta, Georgia. It still runs as an auction in rounds of 30 seconds and final price were used as the benchmark for the entire gold market. Login - Ashima Can you explain how you overcame both to lead the company through its 2012 IPO? He's a Dutchman Slootman moved to Silicon Valley in 1997. They're kind of like-. Make the connection to a global natural gas market at ICE, get started with ICE LNG freight futures today. Snowflake chairman and CEO Frank Slootman on leadership and the war against mediocrity February 23, 2022 "Leading for unprecedented growth means declaring war on mediocrity, breaking the status quo, and making conflicted choices daily, all with a relentless focus on the mission," says Frank Slootman , chairman and CEO of Snowflake, one of . Open main menu Close main menu Home About Us Contact Us States Advanced Search You cannot sell your way through a crappy product, okay? And companies that have been around a long time, it's near to impossible to undo the culture. 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. And it's not just bad behavior, it's also good behavior. As I said, what comes around, goes around. If you like what you heard, please rate us on iTunes, so other folks know where to find us. And then obviously, a business that was at a sense of itself, of its product lifecycle, which has its own unique set of challenges. And that's all coming up right after this. In Amp It Up, you're pretty open about the struggles the company faced in its business and leadership. In other words, as a leadership team, it's not just the CEO. And then, I had another internship after that. It became very meaningful to them. I mean, the results speak for themselves. On stacking, all of a sudden, your boat left behind and you go like, "Oh, my God," so because it's very hard to get ahead on an upwind leg, right? And the whole point of the book is I try to contrast these experiences, like look, they're not the same. You speak the language, like we do, but there is something different about you." Well, that's because historically all we did was we did analytics in silo. Phone: 312.994.4000. The ecommerce industry is one of the fastest-growing sectors, and at the moment, it features several players. Now, we're going to go move the pieces and I'm just a piece on the chessboard." Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. Did you always have your eyes set on a career in the US? Everybody has access to talent. Now, what that does the weaponizing, what that does is we block everything else out. So, I finally caved, okay. Slootman previously served as CEO for Data Domain and for ServiceNow, which he both took public. I mean, in the book, Frank, you used the analogy of getting in the right elevator. It's really a company production, by the way. 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. 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. 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. Because, if I can't explain it, then I can't predict it. In this technological era, the field of analytics is vital as it makes it easy to access needed information without much of a hassle. Snowflake moves executive office from California to Bozeman, Montana - CNBC Our guest today, Frank Slootman is chairman and CEO of Snowflake. I hate that. Meaning that we would run something like Tableau on top of Salesforce or whatever. When a company is buying a million dollars from you in the course of a year, what are they getting? What's your advice about someone climbing the corporate ladder looking to make that leap? What took you back to the Netherlands at one point? Much like how he runs his companies, Slootman is always direct in his speeches. In other words, they kind of let it happen. Let's go." As we're recording this in early 2022, the competition for talent has reached a boiling point. I mean, we were crawling the bottom in the early days, so we had a product that had marginal product market fit. They're very well dialed into it. 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. 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. Frank Slootman - Narrow the Focus, Increase the Quality - [In Are you just going to look the other way or are you going to call it out? Some of Wikitia's pages are sourced from Wikipedia.org's Mainspace and Draftspace. I mean, it was just trying to stay alive. 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. This boat actually won Slootman the 2017 Transpac Honolulu Race in 2017. If there were one person you could sit and learn from today, who would it be? This is a very buoyant country. Amp It Up: Snowflake boss pens hands-on CEO toolkit There's new business models. Slootman has become somewhat of a business hero for many people, myself included. It's a small country, obviously, which is why they sort of veer far and wide. 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? Chiefs defensive lineman Chris Jones recorded his first sacks of his postseason career in a redemptive victory, and his linemate Frank Clark stepped up in the playoffs once again. 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. We were entertainment for Wall Street for a six-week period. 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. So now, we're having business conversations about data. Frank Slootman is the CEO of Snowflake, a cloud-based dataset organization he helped build in 2019. At the same time, that was enormous anxiety about how the company was unfolding. He published a book in 2011 called Tape Sucks. What's the silver bullet? 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. Right? That's when you're at risk. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. So not only is this CEO a winner on land; he also dominates the sea with his sailboatpretty impressive on any measure. This article "Frank Slootman" is from Wikipedia. It becomes the beating heart of a modern enterprise. I'm just, I'm fighting that tide. And in other words, what problems can I solve very quickly versus what is going to take longer to solve. 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. 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. 2023 Forbes Media LLC. Snowflake, a cloud-based data-warehousing company, went public at $120 a share, and has since seen shares trade as high as $328 per share. Having run a number of global software companies, I appreciate the scope of resources that Blackstone can bring to high-growth . Once you understand relationships, you can now predict them. And people are, are mesmerized by Snowflake results because they don't quite understand, where is this coming from? And for example, when I joined Unysis, I ended up in a corporate planning role. 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. This is probably the biggest understatement of the year. to keep connected with us, please login with your personal info. Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career. CEO Frank Slootman (second row, fourth from left) and the Snowflake team virtually rang the opening . Closed: Thanksgiving, Christmas Eve, Christmas and New Year's Day. Creative Commons Attribution-ShareAlike. SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- Instacart, the leading online grocery platform in North America, today announced that Frank Slootman, Chairman and Chief . 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. Snowflake: Not What You May Think It Is - Datanami None of that stuff is material to your mission. I mean, there's many jobs in companies and some of them are quite far removed. 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Everybody has access to capital. Frank Slootman - Forbes In 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. So, I just had some peripheral view of the company, as well as its strategic challenges, by the way. But . JP Morgan paid $175 million for a startup it believes it was conned into buying. Because of his much sought-after expertise, Slootman gets paid a decent sum of money. You just get into this cycle where all you want to do is leave. Data Domain went public in 2007, but two years later acquired by EMC, in my home state of Massachusetts. Amp It Up, published a scant of 13 months after the Rise of the Data Cloud, which you wrote with Steve Hamm. Frank Slootman, Chairman and CEO of Snowflake, recently launched a new book called Amp it Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity. Okay? Learned an awful lot in that period of time. Right, you got a good point. Snowflake CEO on customer spending, weak guidance, A.I. and the company Thanks so much for joining us inside the Ice House. Slootman is going to take Snowflake for quite the ride, and you have to decide whether youre getting in his car or not. 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. And that's exactly what we did. And then Snowflake is again, a totally different. And all of a sudden, everybody is just high-fiving and doing victory laps and everything is beautiful versus reality is completely different. When you get that sensation, you do need to leave because you're no longer the right person for that situation. Buyers and sellers can come together. Here's your host, Josh King of Intercontinental Exchange. 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. One of the reasons I made it a very transparent discussion is that most people think that when you have these highly successful company, it just happens like poof, beautifully. Then, they discuss Frank's hiring philosophy and how to create a winning relationship between an executive and their direct reports . The question is, what are you going to do? That's the point of it. And it wasn't until the consent degree with IBM that really unbundled the software from hardware because software industry couldn't even happen because software was bundled. Frank Slootman currently serves as Chairman and CEO at Snowflake. We cannot just read our emails and have a few phone conversations and know what's going on. And did you have a sense that the sector was really about to explode? 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. So it's a very important question because if I hire you, I can get you experience every day at the week. That is how you energize companies. Snowflake CEO Frank Slootman Talks IPO Pop: Narrative Of Lost - Forbes Museum Shop Hours: 9:30 am - 5 pm daily; 9:30 am - 4 pm in January and February. Perhaps the biggest one is the one that deals with the CEO replacement just months before the public offering happened. In short, money talks, and Slootmans got it in his hands and in his mouth. 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 . I actually wanted to retire, truth be told. 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. 951 Chicago Ave., Oak Park, IL 60302. And there is a following for this and the reason that we know that is because we wrote a book back in 2009, 2010, that sort of became a combat manual for entrepreneurs over the years where, because this is really for people that have nowhere else to turn. No, we're talking about stuff that's not working well. Snowflake CEO Frank Slootman Leading for Hypergrowth - YouTube The dream drivers that have made the NYSE an indispensable institution of global growth for over 225 years. Those are all disciplines that leverage where they are, right at the headwaters off the entire European continent. Wikitia is not affiliated to Wikimedia Foundation. I'm buying aptitude and then I'm going to develop that with experience, right? We actually won everything that we wanted to win. And it's very much a talent game just like business is. It was very formative. Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. Theres no surprise here. They did not try to carry technology or ways of thinking forward.