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. Buyers and sellers can come together. And of course, people chuckled because they recognized it. I mean, it was a super crowded field, but we just crushed that entire field. And people are, are mesmerized by Snowflake results because they don't quite understand, where is this coming from? And it's very much a talent game just like business is. Frank Lloyd Wright's Buildings in Japan 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. Snowflake CEO Slootman Scores IPO Hat Trick With Big Bet on Data He's a pretty good golfer. What was that? So, I just had some peripheral view of the company, as well as its strategic challenges, by the way. 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. 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. Okay? Frank Slootman Is No Snowflake | Sequoia Capital US/Europe We're going to nuke an entire industry out of existence. At the same time, that was enormous anxiety about how the company was unfolding. The Frank Lloyd Wright (R) Suite will be accepting bookings from January 24, 2023, through March 31, 2024. . Obviously, that industry had moved on to all kinds of different disk space technologies. 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. As the gold auction and also, the LBMA gold price is the world's price for gold, particularly gold, which is delivered in London. Snowflake is Slootmans third IPO. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. And for example, when I joined Unysis, I ended up in a corporate planning role. [23] 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. 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. Slootman is going to take Snowflake for quite the ride, and you have to decide whether youre getting in his car or not. Because now, now you're going to look people in the eye, and say, "Look, this is the way we're going to be. Well, that's because historically all we did was we did analytics in silo. 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. I mean, all these greats, right? 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. 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. 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. 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. And then of course, Michael Dell found just as attractive to bring EMC into Dell. He cuts back where he sees fit. I mean, that's how aligned this is, okay? I always tell my own people, "Look, I'm a piece on the chessboard, 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. Frank Lloyd Wright Home and Studio | Frank Lloyd Wright Trust 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. Because the essence of data science is you are trying to discover through historical data what the relationships are in your business. What are your God-given talents? But EMC prevailed. I mean, it's like when people start to roll their eyes. 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 mean, it's a hell of a cash burner as well. Africas largest economy is in the early stages of a monetary experiment that could be coming to the U.S. sooner than you think. Data Domain went public in 2007, but two years later acquired by EMC, in my home state of Massachusetts. 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. Yeah, there's no doubt. So, we're going to be in the middle of that. I'm the opposite. 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. That's the reason why this country does so well. 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. 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. But this whole Snowflake exercise could have turned out dramatically different, the CEO says, if the founders had pursued their original premise for what the company should be. 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." And opinions, everybody's got one, but data doesn't lie. 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? There's no doubt, I'm a total hybrid here. It still runs as an auction in rounds of 30 seconds and final price were used as the benchmark for the entire gold market. 5.9% of any company is a huge deal. In other words, you got to really mean it, okay? We don't preside, okay? And, how do you design single best data operations platform you possibly can?". And historically, people have tried to answer these questions anecdotally. Museum Shop Hours: 9:30 am - 5 pm daily; 9:30 am - 4 pm in January and February. What took you back to the Netherlands at one point? 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. But that is what digital transformation is. Mr. Slootman served as CEO and President of ServiceNow from 2011 to 2017, taking the organization from around $100M in revenue, through an IPO, to $1.4B. So, we won a lot of outraces. But you dont achieve a $1.8 billion net worth by being a spendthrift. So, she talked me into it because I was on the verge of saying, "Look, I'm not going back there." It's really every leader in the organization needs to internalize and then, want to act on it. Bunkers is basically a silo that's incredibly hard to access. I mean, the only thing that energizes people and teams and organizations and companies as a whole is the mission. CEO Frank Slootman (second row, fourth from left) and the Snowflake team virtually rang the opening . Now, it was actually pretty interesting because this was sort of a forerunner of a data analytics, business intelligence type of company. We played a round of golf. I mean, it was just trying to stay alive. So it's a very important question because if I hire you, I can get you experience every day at the week. Bachelor of Science, Erasmus University Rotterdam, The Netherlands; Master of Science, Erasmus University Rotterdam, The Netherlands. And everybody was like, "Who's Data Domain? 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. His company's listing here at the NYC in September 2020 was the largest software IPO in the history of the US capital markets. Frank Slootman - Topp podcast avsnitt They also appreciate it. It's very hard. Some portions of the proceeding conversation may have been edited for the purpose of length or clarity. We added sort of network replication disaster recovery, a whole bunch of adjacencies to it. In other words, as a leadership team, it's not just the CEO. 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. Open main menu Close main menu Home About Us Contact Us States Advanced Search This property is owned by Frank & Brenda Slootman. And by the way, data platforms have been extremely fragmented historically. And after a while it's like, "Look, I can't do one-on-one meetings with a million people. Snowflake IPO: Everything you need to know | Fortune There are many questions left unanswered about the months leading up to Snowflake going public. And now, welcome inside the ICE House. Slootman previously served as CEO for Data Domain and for ServiceNow, which he both took public. But we didn't have the market capital resources to do that. We're always picking at things that could be better. And I say, "Stop putting labels on yourself. And of course, the appetite is insatiable for both technology and people that know how to make this future happen. 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. You really need to, look at yourself as an asset that can be applied in many, many different ways. And did you have a sense that the sector was really about to explode? Amp It Up, published a scant of 13 months after the Rise of the Data Cloud, which you wrote with Steve Hamm. It's up to 79% of the volume has gone cleared. 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. I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." There's new business models. 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. Its none other than CEO Frank Slootman, and here are 10 things about the guy behind the current Snowflake craze. 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. 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. Slootman recently spoke at the CNBC. Snowflake moves executive office from California to Bozeman, Montana - CNBC And the reason that I found it so interesting is technology was mesmerizing. Snowflake CEO Frank Slootman on Covid and remote work adoption - CNBC Before that, he spent his life in Netherlands, where he was also born. He's like, "How do we run a supply chain?" We now use consumption models instead of subscription models. I mean, truly retire. In any successful company just ask them, they will attribute success to their culture. 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. Those are the people that are right there, where the people that bring home the bacon, there when the shit hits the fan. That is the most, that is so unproductive. Our European futures operation is based in London, England, and a big part of that operation is futures trading for Dutch Natural Gas at the Title Transfer Facility or TTF, virtual trading point in Amsterdam. He was saying during the pandemic, he's like demand was up 60% over here, down 100% over there. I just have been in the line of fire too long. Architecturally, just damn near perfect, so. But then, you go like, "Oh, this is the rest of my life." Every week there was a new bid. The liberalization of LNG is creating a global natural gas market, with freight acting as a virtual pipeline between continents. So, we came up with this war cry that said, "Tape sucks, move on." So now, we're having business conversations about data. Never seen the inside of an office or anything. 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. 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 . So, they looked around and they found the guy with a passport to Dutch language proficiency like. Frank Slootman is the CEO of Snowflake, a cloud-based dataset organization he helped build in 2019. It became very meaningful to them. Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. Who can solve what set of issues, right? Slootman received both his undergraduate and graduate degrees from the Erasmus University Rotterdam School of Economics. I can just blow a year on doing some other stuff that's interesting." 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. It's just, it's hard not to be acquainted at some level with that culture. Frank, how did those early experiences rising through the ranks and being sent from problem to problem help you establish the principles for success that your career would see? So, because we all have our that's sell of awareness. And companies that have been around a long time, it's near to impossible to undo the culture. Everybody has access to capital. Some may describe him as direct. Instead, hes got something equally as coola sailing boat named The Invisible Hand. Amping it up with Snowflake CEO Frank Slootman - SiliconANGLE Because, and this is another important observation, I think. CEO Frank Slootman told CNBC in January that after the Covid-19 outbreak forced people to work from home, it became clear that the old way of working wasn't going to return. VCs have entered the debate on Snowflake CEO Frank Slootman's comments Check out the subtleties of his Wikipedia below. I look at the situation, "What does this require?" 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. Now, you can manage LNG freight risk with ICE LNG freight futures contracts, which join our global natural gas complex. And Mike, he takes on the end entire spectrum of controls and administration. Make it as easy as I could make it. 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? See what you can do with it" to data driving operations directly, right? 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. 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. Early days of ServiceNow was just jungle fighting. So, I really lift that cross and the chasm dynamic. The Frank Lloyd Wright Suite at This Tokyo Hotel Is a Midcentury Modern But they do because the world is changing to digital and this is the essence of digital transformation. It will be fine. They knew exactly what we meant. Others might say that hes completely brash. After joining almost at the start in 2003, Slootman helped. They're very safe. And you can't play chess pieces in a million different ways, right? I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? None of that stuff is material to your mission. But it's also, you attack and you cross again. That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. Of these, six were built: the Imperial Hotel and Annex, the Jiyu Gakuen School, the Aisaku Hayashi . Wikitia is not affiliated to Wikimedia Foundation. You hit a mark, you have to do two 360s. 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. 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. I mean, they had graphical user interfaces that were completely proprietary to that company. 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. When you get that sensation, you do need to leave because you're no longer the right person for that situation. right? And we were babes in the wood back then. I mean, you're not going to get excited, "Well, we want to grow 100% this year." Having run a number of global software companies, I appreciate the scope of resources that Blackstone can bring to high-growth . Welcome, Frank, inside the Ice House. But yeah, aptitude is really about, what are you innately good at? But the thing that I like so much about yacht racing that I like better than being in business is when you make a mistake on the race course, it's almost immediately obvious that you did. I mean, you probably have even a sense of things that you know you're not good at. If it's not related to our core mission, we don't want to hear about it. He published a book in 2011 called Tape Sucks. 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? Frank Slootman, Chairman and CEO of Snowflake (NYSE: SNOW), presided over the largest software IPO in the NYSEs history, but it wasnt his first rodeo. That's why they're big in banking and insurance and distribution and logistics. 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. I mean, if you look historically at what platforms like ours have done, there is no relationship to the past with what Snowflake is doing now. 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. You cannot sell your way through a crappy product, okay? 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. This is probably the biggest understatement of the year. When a company is buying a million dollars from you in the course of a year, what are they getting? Look, I'm not a certain type of CEO. 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. It wasn't, and the company wasn't failing financially on its growth objectives. And like, "How fast does this guy type?" The ecommerce industry is one of the fastest-growing sectors, and at the moment, it features several players. Take our own company, Intercontinental Exchange, for example. to keep connected with us, please login with your personal info. In the book, I go on and on about what some of those issues are. Everyone's watching. Right? 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. The New York stock exchange sits at the Southern tip of Manhattan on the corner of Wall and Broad Streets. He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. And by the way, insurance companies are already pretty data savvy, but every single industry is experiencing these kinds of questions. They want to know what bad behavior is. This site uses Akismet to reduce spam. Leone took Luddy on a host of interviews. We're not trying to find fault with people or who did what to whom. And obviously that is not the best way to go about things because that's just one man's opinion against another, right? And Mike was still the CEO at ServiceNow at that time. And it wasn't charged for, so companies just couldn't build software because it was just given away. Where I come from, people are quite resigned to their fate. Two years later, he was back at it again as chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. I'm Josh King, your host, signing off from the library of the New York Stock Exchange. I'm curious, how that opportunity at Data Domain came to you? So, I did. We were going to do the world of favor.". The information contained in this podcast was obtained in part from publicly available sources and not independently verified, neither ICE nor is affiliates, make any representations or warranties, express or implied as to the accuracy or completeness of the information and do not sponsor, approve or endorse any of the content herein. Yeah, yeah. When I'm on offense out there, I don't worry about what's going on at home at the farm because that is in a very, very tight control mode. Learn how your comment data is processed. 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." And then being able to talk about it in an intelligent, really rich-considered manner. It was just like Formula 1 of sailboat racing. Right? And I said, "Why not?" 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. CEO Frank Slootman made $287,990 in salary in 2019. 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. Here's your host, Josh King of Intercontinental Exchange. But the problem with tape was, I mean, tape got lost, tape became unreadable. Because that's what it is. I don't think about what's next. So in hindsight, I understood that I was just burned out, classic burned out. The company, which prides itself as the leading customer success, Read More 10 Things You Didnt Know About Guy NirpazContinue, Medical marijuana is increasingly becoming a popular trend in the treatment and management of different diseases including chronic and fatal ones such as Alzheimers disease, brain tumors, cancer, HIV/AIDS, chronic pain, and multiple sclerosis. I really had to change from being an individual contributor or a small team leader to somebody who runs organizations. 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. One of the worst, worst in the English language for me. It is hard when you lose your sense of mission, when you lose your desire and your boldness and your aggression in the marketplace and want to go after competition.