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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? Yeah. 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. I mean, you probably have even a sense of things that you know you're not good at. And it was difficult for him to sort of hand over the reins, but the investors in the company convinced him that, "Look, we think that this is needed," because the company was growing well. Correct, correct. Chief Executive Officer & Chairman. I mean, truly retire. And it worked like that for about a hundred years. Frank Slootman - Chairman and Chief Executive Officer And by the way, for most people, that's a very difficult question. And then Snowflake is again, a totally different. Snowflake CEO Frank Slootman walks back remarks All of us, no exceptions." I don't think about what's next. 89/100. But for many, many other enterprises, including a lot of banks actually in the world of financial services, because they operate through branches and very conventional brick and mortar ways of interacting with customers, all of a sudden, it has to change rapidly. The companys CEO Frank Slootman owns a ranch in Montana, Forbes reported. At the same time, that was enormous anxiety about how the company was unfolding. 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. Snowflake is the third company Frank has taken public, and the lessons that shaped his career are part of his new book Amp It Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity. All of which is presented solely for informational and educational purposes. No, I didn't. 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. WebLinkedIn View on LinkedIn. You have to have data to partial reality, right? Spark 30S covers a route between the US Gulf coast and Northwest Europe, while Spark 25S covers a route between Australia and China. I'm Josh King, your host, signing off from the library of the New York Stock Exchange. And of course, people chuckled because they recognized it. But as I got into retirement, the whole experience of retirement changes in the beginning, it's very euphoric, right? Large cloud share company moves executive offices to Bozeman. If it's not related to our core mission, we don't want to hear about it. I mean, you brought in some reinforcements when you started at Snowflake, including Michael Scarpelli, who was your CFO at Data Domain and ServiceNow. Yeah, that goes back about mission posture. In other words, somebody who has lived their lives over and over. Not exactly like a year and a half, he'd been there for seven years. It was very formative. 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 now use consumption models instead of subscription models. I mean, you're not going to get excited, "Well, we want to grow 100% this year." Send us your thoughts and feedback as a letter to the editor. Two years later, he became chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. This is the name that will be displayed next to your photo for comments, blog posts, and more. I speak with a fat accent and like, "What are we going to do with you, pal?" Right? 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. Don't typecast yourself." 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. The companys CEO Frank Slootman owns a ranch in Montana, Forbes reported. 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. I always tell my own people, "Look, I'm a piece on the chessboard, okay? One of the worst, worst in the English language for me. Never seen the inside of an office or anything. I often refer to those people as passengers and then, they're the drivers. If you want to be the best - Amp It Up is for you. " Okay, it's real easy and in engineering, they put guys on the whiteboard and they give them problems. And when you're burned out, you don't regenerate anymore. These are big, big changes that we are experiencing in the marketplace, and were just super happy to be in the middle of that and be an enabler of that, he said, adding that Snowflake places its focus on growing at scale. I mean, 16 months after you and Mike came to Snowflake, you raised $3.4 billion as part of its IPO, instantly establishing Snowflake as one of the NYC's marquee companies. 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. 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. So, it just started to happen, but I wanted to desperately be in software at that time. Data has no opinion. So, you need to create a platform that allows data to be enriched and be joined and be blended and be overlaid in ways that data scientist only have insight into. Back then, there were hardly any software companies around. It was sort of an adjunct to what they called the computer industry back then. And I've never been able to equal that level of success with a marketing slogan. Hes had stints at Data Domain, bought by EMC for $2.4 billion in 2009; ServiceNow, which ran a $210 million IPO in 2012; and his current Snowflake gig following its IPO last year, which raised $3.36 billion at a valuation of $33.6 billion. In AMP IT UP: Leading for Hypergrowth with High Expectations, Urgency, and Intensity (Wiley; January 19, 2022), Frank Slootman, chairman and CEO of Data Cloud company Snowflake (NYSE: SNOW), reveals what it takes to transform any organization, to maximize growth and scale. I'm a proud US citizen, but at the same time, there's no negating my Dutch roots. It's just that there is a spirit here that always believes that it can do things that other countries don't believe about themselves. Our guest today, Frank Slootman is chairman and CEO of Snowflake. Did you always have your eyes set on a career in the US? (Graphic: Business Wire). 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 a lot of people shy away from that because it's incredibly high anxiety to live in that world, but you want to suppress that reflex. 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. I'm buying aptitude and then I'm going to develop that with experience, right? The liberalization of LNG is creating a global natural gas market, with freight acting as a virtual pipeline between continents. And all of a sudden, everybody is just high-fiving and doing victory laps and everything is beautiful versus reality is completely different. Unlike most CEO books today, this is a plain spoken, hard driving, attack oriented, precision obsessed offense. Well, building culture is a very forceful thing. Subscribe today! Not all people are created equal in terms of their roles and their contributions in companies. 3,990. And you got to go back to the early days of Steve Jobs, who always had this glimmer of, "I'm going to do something insanely great." Free Tools ; Leads by Industry ; Frank Slootman. And when you buy companies, it gets worse, right? Interior Secretary Ryan Zinke in 2017 and 2018, according to Federal Election Commission reports. But 233 years later, American, Dutch and British interests are inexorably intertwined. I mean, it's a hell of a cash burner as well. 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. Snowflake CEO Collects a $108 Million Payout Every By providing your email address below, you are providing consent to Snowflake to send you the requested Investor Email Alert updates. Slootman stressed that the companys software is only becoming more important as enterprises shift away from databases tied to hardware. Yeah, there's no doubt. Juliana Sukut can be reached at 582-2630 or jsukut@dailychronicle.com. 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. 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. Get the world to sort of move onto a different technology platforms, et cetera. 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. 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. If you like what you heard, please rate us on iTunes, so other folks know where to find us. So, it was an incredible trial by fire. Snowflake runs onAmazon S3since 2014, onMicrosoft Azuresince 2018and on theGoogle Cloud Platformin 2019. And having incredible meaning and potency and yield value for applications you never imagined. I was like, "Jesus, I spent my whole life trying to get here. And rightfully so, by the way, because they have created something, right?. 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. And in other words, what problems can I solve very quickly versus what is going to take longer to solve. Mike Speiser, Managing Director, Sutter Hill Ventures, "What an incredible leader Frank is. Snowflake offers a cloud-based data storage and analytics service, generally termed "data warehouse-as-a-service.". Frank Slootman - Chief Executive Officer &.. - Snowflake People were looking at my credentials. Stories, Leadership & Bureau, Marketing 88 /100. That is by then, we often refer to this as data enrichment because you can take incredibly mundane data and when you enrich it with data attributes from other sources, like for example, you guys did with ADP, all of a sudden data goes from mundane to high octane. "Over the last 20 years I have been fortunate to watch Frank Slootman build a Hall Of Fame career. And my email just dribbled down to nothing and all this kind of thing." You need to be invested in the moment, in the present, rather than I'm thinking about my next move. It's just, it's hard not to be acquainted at some level with that culture. We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. Yacht Racing is incredibly exciting and then it has a lot of corollaries to business because it's this multidimensional game of weather and competition, and what happens on the race course and reacting to it. ICE is home to global natural gas markets benchmarks in Henry Hub, MBP, TTF, and JKM. 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. 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. What's the silver bullet? And by the way, data platforms have been extremely fragmented historically. Two years later, he became chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. You can't help but run into Dutch people everywhere because they have such a small country. You cannot sell your way through a crappy product, okay? Slootman owns about 10 percent of Snowflake. Yeah. Data Domain went public in 2007, but two years later acquired by EMC, in my home state of Massachusetts. 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. Now, we're going to go move the pieces and I'm just a piece on the chessboard." According to Forbes, the tech CEO has amassed a $2.1billion net worth. 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. But let's focus on another dilemma that brought up in the book, Frank. Find related and similar companies as well as employees by title and much more. Snowflake enables every organization to mobilize their data with Snowflake's Data Cloud. We were entertainment for Wall Street for a six-week period. That's where we're at right now. And fortunately, the temperament that is in you, it's going to re-manifest itself sooner or later. 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. It became very meaningful to them. It allows corporate users to store and analyze data using cloud-based hardware and software. Obviously, that required even more resources, so we really had the strategic dilemma that we couldn't grow beyond our core market. Somebody who I had known for many, many years, so at Sutter Hill Mike Speiser. And opinions, everybody's got one, but data doesn't lie. So now, we're having business conversations about data. Amping it up with Snowflake CEO Frank Slootman It's you're in this job for a reason. Can you explain how you overcame both to lead the company through its 2012 IPO? Frank Slootman - Chairman & CEO @ Snowflake I can't do every speaking engagement," et cetera. Tell me about sailing, first of all. 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. 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. And in other words, I was already negotiating Mike's package before I had joined ServiceNow. Amp It Up is a must-read book for anyone looking to take their team and organization to the next level." When you run companies, you need to narrow the plane of attack very, very quickly. Because they can't understand how spending categories can just explode overnight like that. We tried to, we wanted to get into primary storage. Okay. Amp It Up is a recipe we can all apply. Let's go." What you're doing now is doing pretty good, so keep yourself in the game, Frank. Did Frank Slootman Leave ServiceNow 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. And I had already made a little bit of a name for myself in the company. Snowflake CEO urges investors to be patient Well, you think you're just going to turn it off? Amp it up and the results will follow. Well, that's another thing I don't think about that. And you can take it or leave it and try it on for size and see if you like it." In Amp It Up, you're pretty open about the struggles the company faced in its business and leadership. We actually won everything that we wanted to win. Email notifications are only sent once a day, and only if there are new matching items. You could have a meeting in the hallway with the entire company. A lot of people think that that's possible, but there's a real limit to what salespeople can and can't do. Who can solve what set of issues, right? 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. Amp It Up [Book] - OReilly Online Learning So, understanding that is really important because obviously, you can't fight it off unless you understand where it's coming from. 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. 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. It's always hard when you come in as a CEO and you have to follow a founder because the founder almost has mythical status in the organization. They're very far removed from the drive train. When I was at Data Domain, hell, we were 15 people when I joined there. by Frank Slootman. 61/100. WebSnowflake is a Montana-based cloud computing platform that deals with the design and development of data warehouse and analysis solutions for customers. 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. WebFrank Slootman Chairman & CEO. But eventually, I returned to Holland about a year later, resumed my education. But the problem with tape was, I mean, tape got lost, tape became unreadable. We are people that basically see everything that's wrong all day, and we always see a room up from where things are. And now, welcome inside the ICE House. I mean, anecdotal observation has pretty much run its course. Phone Email. I can just blow a year on doing some other stuff that's interesting." Because he was still smarting from the fact that I left ServiceNow and he felt I left him stranded. 679215 Registered office: 1 London Bridge Street, London, SE1 9GF. In AMP IT UP, he shares how leaders can convert lingering potential into superior results with the resources they already possess. While he was CEO of Santa Clara-based ServiceNow Inc. he contributed And, how do you design single best data operations platform you possibly can?". Those are really good conversation, good questions to have because each organization is different. And essentially, he defends. 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. Snowflake - Overview, News & Competitors | ZoomInfo Right. Another Dutch trend setter with the Winfrey title is Frank Slootman, the chairman and CEO of Snowflake. 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. We're going to nuke an entire industry out of existence. 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." That culture really keeps you safe from being indulgent or just, you're sort of presiding. 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? At the same time, I ended up in conversations with the lead director and investor at Snowflake. To inquire about a licence to reproduce material, visit our Syndication site. View Employees. It's very hard. I mean, it was just trying to stay alive. AMP IT UP: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity, Value They're very lonely in their jobs. There's new business models. I hate to break it to the audience, but that is the way that it is. Snowflake runs onAmazon S3since 2014, onMicrosoft Azuresince 2018and on theGoogle Cloud Platformin 2019. Invalid password or account does not exist. Right? 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 The company recently announced it will be moving its corporate headquarter from San Mateo County, California, to Bozeman, Montana. It's a small country, obviously, which is why they sort of veer far and wide. 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 Snowflake Company Profile | Management and We will talk to you next week. Things will change in ways you cannot even imagine the ideas that happen. WebSnowflake is a Montana-based cloud-enabled data warehouse company that provides services including data storage and analytics for businesses. This is very much a country that believes things that other countries don't believe. As the gold auction and also, the LBMA gold price is the world's price for gold, particularly gold, which is delivered in London. Our headquarters is in Atlanta, Georgia. I mean, you can take somebody out of their country, but you can't take the country out of the person, as the old saying goes. And did you have a sense that the sector was really about to explode? So, one of the things that, that our founders did really, really well and it's a very important lesson here for anybody that's watching Snowflake and trying to understand is that they took a clean sheet of paper.
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