Volumes have increased and they've pretty much more than doubled, and we've actually nearly tripled the number of participants that we have as well. But one of those issues was that taken over from a founder CEO was really, really hard. 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. Slootman previously served as CEO for Data Domain and for ServiceNow, which he both took public. I don't know if you've watched any of the first couple seasons of Ted Lasso, but on a team of great characters, the Dutchman is the one guy, straight faced, no bullshit throughout the whole game. In May 2019, Frank Slootman, the retired former CEO of ServiceNow, joined Snowflake as its CEO and Michael Scarpelli, the former CFO of ServiceNow joined the company as CFO. It was an application development and runtime platform to run on both Unix and OSU and Windows all at the same time. They sold the living hell out of that product. What's the playbook?" IBA took over the auction in 2015 and we moved it to an electronic auction and on the web ICE platform, so it's fully audited to proper electronic liquidity window of market. I don't think about what's next. I just have been in the line of fire too long. And I'm like, "You know what? Right? 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. He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. 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. Now, as the story goes, England followed the Netherlands in control of Manhattan. And that is a common thread through all our companies. Slootman moved to Silicon Valley in 1997. It's just, it's hard not to be acquainted at some level with that culture. I actually wanted to retire, truth be told. I always talk about mission posture, which really means having a very, very intense visceral sense of what the company is trying to achieve. You cannot sell your way through a crappy product, okay? People that the company really, really runs on. 2023 Forbes Media LLC. I'm a proud US citizen, but at the same time, there's no negating my Dutch roots. I'm curious, how that opportunity at Data Domain came to you? Can you explain how you overcame both to lead the company through its 2012 IPO? They're kind of like whine and bitch all day. Technology executive Frank Slootman took software company Snowflake public in one of the biggest tech IPOs of 2020, raising $ 3.4 billion at a $33.3 billion valuation. I speak with a fat accent and like, "What are we going to do with you, pal?" 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. And eventually, we totally crushed that market because we could address any and all use cases that were out there. The improvement in technology is one of the main reasons that this commercial scene is flourishing by the, Read More 10 Things You Didnt Know about Loggi CEO Fabien MendezContinue, Tableau Softwares President and CEO Mark Nelson defines Tableaus vision and supervises the companys business operations and procedures. Because, if I can't explain it, then I can't predict it. It's you're in this job for a reason. We were going to do the world of favor.". Much like how he runs his companies, Slootman is always direct in his speeches. And people would eyeball those reports in those dashboards, and that was sort of the extent of it. Yeah, that goes back about mission posture. Our guest was Frank Slootman, the Chairman and CEO of Snowflake. But they do because the world is changing to digital and this is the essence of digital transformation. And we feel the consequences of our actions every minute of the day. Cloud-data warehouse Snowflake has been the talk of the town since it announced its intention of going public. ICE is the first exchange to list LNG freight futures contracts underpinned by the price assessments of spark commodities. Did you always have your eyes set on a career in the US? The IPO was the third for Dutch-born Slootman,. Because now, now you're going to look people in the eye, and say, "Look, this is the way we're going to be. A term that gets used a little bit too much in too many places. So, I finally caved, okay. 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. In other words, as a leadership team, it's not just the CEO. Meaning that we would run something like Tableau on top of Salesforce or whatever. I'm like, "We're not trying to indict what you've done. Right? And when you buy companies, it gets worse, right? I don't know what, if you go back to those days. Data Domain was really an interesting company. It became very meaningful to them. Collaboration between companies also offers significant opportunities to create value, and Frank Slootman - Chairman and CEO of data cloud pioneer Snowflake - believes it has never been more important for organizations to be able to mobilize their data and share it with ecosystem partners. That takes very different approaches, orientation, skill sets, and so on what you do. 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. What was that? 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 can't get you aptitude. Make it as easy as I could make it. Not much is known about Slootmans personal life, but we do know that hes fairly young for the success hes achieved in his lifetime. But then again, there really is only one Frank Slootman, IPO master in the world. We're driving change. Everybody has access to talent. Okay. And fortunately, the temperament that is in you, it's going to re-manifest itself sooner or later. The Frank Lloyd Wright (R) Suite will be accepting bookings from January 24, 2023, through March 31, 2024. . I mean, all these greats, right? They've never really been asked that before. Reflects change since 5 pm ET of prior trading day. The scramble isnt over, and many who missed the opening also missed on the double growth just off the gate. You want to be that person, okay? 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. You relate well to that way of thinking. right? We tried to, we wanted to get into primary storage. When I was at Data Domain, hell, we were 15 people when I joined there. But you dont achieve a $1.8 billion net worth by being a spendthrift. If you like what you heard, please rate us on iTunes, so other folks know where to find us. And I said, "Why not?" This is kind of the pattern that ICE has seen through how different markets have developed, but normally that takes 10 years, whereas actually, it's taken 10 weeks in the auction. 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. That is the most, that is so unproductive. The list of its authors can be seen in its historical. And people are, are mesmerized by Snowflake results because they don't quite understand, where is this coming from? Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. 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. Right. They just said, "Look, let's re-envision, re-imagine based on the platform realities that we now have, which was the Public Cloud. Our headquarters is in Atlanta, Georgia. And then, I had another internship after that. Information contained in this podcast was obtained in part from publicly available sources, and not independently verified. 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. Now, we're going to go move the pieces and I'm just a piece on the chessboard." Good sales people have a track record. I mean, it gets rid of you. One company that embodies this vision is ThoughtSpot, an analytics company. You got to catch people doing things the right way and then amplify that and praise it and reward it and so on because people are like pets and children. But the world of backup and recovery, was dominated, as you said, by tape automation technologies. I mean, the results speak for themselves. 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. And it's not just bad behavior, it's also good behavior. 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. I mean, anecdotal observation has pretty much run its course. And he always talked about Snowflake because it was a very exciting company to him and I didn't know that much about it, but enough to have a conversation. 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. 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. At the same time, that was enormous anxiety about how the company was unfolding. Don't typecast yourself." 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. You could eject the tape from a tape drive and you could ship it off site. the internship sort of came about because I was about a year ahead of schedule at the university. Neither ICE nor its 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, all of which is presented solely for informational and educational purposes. I'm buying aptitude and then I'm going to develop that with experience, right? What took you back to the Netherlands at one point? And the reason that I found it so interesting is technology was mesmerizing. So, we came up with this war cry that said, "Tape sucks, move on." As cool as it may sound, Slootman doesnt actually have a literal invisible hand. Those are all disciplines that leverage where they are, right at the headwaters off the entire European continent. And obviously, I got that in spades at UN Royal in Indiana. 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. Slootmans style of leadership is not gentle at all. And I have to, the moment I start sitting in my ivory tower and rely on reporting from people all over the place, we're in a world of hurt. It's just our nature to talk about problems." It's like, "That's not exciting." If you like what you heard, please rate us on iTunes, so other folks know where to find us. 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. Because they can't understand how spending categories can just explode overnight like that. Read More 10 Things You Didnt Know About Paul StovellContinue. 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? I mean, we have bumper stickers and people would at trade shows would stick them on tape libraries. As I said, what comes around, goes around. Tej, Read More 10 Things You Didnt Know about Tej VirkContinue. In other words, swarm to it instead of distance yourself from it. So, the earlier you show up, the better off you are. Snowflake now has Frank Slootman as chairman and CEO. 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. In other words, they kind of let it happen. And then I change myself to become that flavor of CEO. Now, amid an ongoing legal battle, its got to clean up a very public mess. 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. 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." Back then, there were hardly any software companies around. 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. welcome back! I use that expression a lot to say, "Look, data operations is going to become your core." He says, "If I have a problem in a state like Florida, where bodily injury claims are disproportionate to surrounding states, what explains 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. But predictably, we already talked about Dutch culture, that relationship between the American parent and the Dutch subsidiary didn't go so well. Snowflake is Slootmans third IPO. 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. Because the essence of data science is you are trying to discover through historical data what the relationships are in your business. 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. And did you have a sense that the sector was really about to explode? I mean, there's many jobs in companies and some of them are quite far removed. 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 . Tell me about sailing, first of all. 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. The liberalization of LNG is creating a global natural gas market, with freight acting as a virtual pipeline between continents. 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. Some may describe him as direct. It was doubling. 5.9% of any company is a huge deal. And it's like, "Well, why does that matter?" And my email just dribbled down to nothing and all this kind of thing." 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 Slootman has written another book about how to run a business based on his time at Data Domain, ServiceNow, and Snowflake. So it's a very important question because if I hire you, I can get you experience every day at the week. Like, "Yeah, why don't we just throw that guy into that fire and see what he can do with it.". But if you're performing at Tom Brady's level, you have no reason to step aside. So, we're going to be in the middle of that. Quick digression. Software was barely an industry. 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. 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. There's new business models. 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. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. The perception in Holland of United States is very, and I don't want to use the word biased, that might be too strong. 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? 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. Listen to this episode from This Week in Startups on Spotify. But one day, and this was in March of 2019 and he said, "What would it take for you to take the helm?" 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. When a company is buying a million dollars from you in the course of a year, what are they getting? 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. That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. All these things eventually came together. 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. Slootman received both his undergraduate and graduate degrees from the Erasmus University Rotterdam School of Economics. This site uses Akismet to reduce spam. This is a very buoyant country. And that's a whole different deal. So, I did. 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. It was very formative. The Dutch have all always been enterprising. And I say, "Stop putting labels on yourself. 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. [3] On September 16, 2020, Snowflake made an IPO, selling 28 million shares and raising $3.4 billion, making it the largest software IPO in history.[4]. Obviously, that industry had moved on to all kinds of different disk space technologies. Another Dutch trend setter with the Winfrey title is Frank Slootman, the chairman and CEO of Snowflake. 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. Slootman applies this philosophy in the workplace as well. Well, you think you're just going to turn it off? [23] They knew exactly what we meant. It will be fine. Better, better all the time. By the close of. Bunkers is basically a silo that's incredibly hard to access. Well, building culture is a very forceful thing. People were looking at my credentials. It was originally known in Dutch as de Waalstraat when it was part of new Amsterdam in the 17th Century, an actual wall existed on the street from 1685 to 1699, protecting the early entrepreneurs and fur traders of Fort Amsterdam from encroachment from the north. Once you understand relationships, you can now predict them. So, what are things that we should absolutely not ask you to do ever? A lot of people think that that's possible, but there's a real limit to what salespeople can and can't do. Now, for us, it's a data Cloud. Snowflake CEO Frank Slootman on moving the needle, win-first culture & managing burnout | E1689. This article "Frank Slootman" is from Wikipedia. This property is owned by Frank & Brenda Slootman. And then being able to talk about it in an intelligent, really rich-considered manner. You could have a meeting in the hallway with the entire company. Frank & Brenda Slootman - 3001 W Ruby Hill Dr, Pleasanton, Ca 94566 Property data website for assessments, data, and owners. The Dutch-born Slootman, who now lives in Montana, has had three hits in a row since 2003: He was made CEO of enterprise storage startup Data Domain and grew it to a $2.4 billion acquisition. So, it was an incredible trial by fire. 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? to keep connected with us, please login with your personal info. I mean, it's like when people start to roll their eyes. 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. What are your God-given talents? You can only sail so much, [crosstalk 00:31:19]. When I was considering Snowflake, I told Snowflake, "I will not do this if Mike doesn't come along." But backup recovery still largely dependent on tape and tape automation technology, so we created a tape. This is really think about it as a database in the Cloud. What kind of people fail here and why?" 5. Technology executive Frank Slootman took software company Snowflake public in one of the biggest tech IPOs of 2020, raising $ 3.4 billion at a $33.3 billion valuation. Today, Slootmans net worth shot up to $1.8 billion because of the Snowflake IPO. But it's not what it really is, so it wasn't an enormous surprise to me to come here. Here's your host, Josh King of Intercontinental Exchange. But eventually, I returned to Holland about a year later, resumed my education. 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. Its none other than CEO Frank Slootman, and here are 10 things about the guy behind the current Snowflake craze. What goes around, comes around and the Dutch get around the world. I hate that. They only learn from consequences, so you got to create consequences, good and bad when things happen and things happen all day long. 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. What's the silver bullet? And that's the American flavor and flare that has built up over three, almost four decades. Amp It Up, published a scant of 13 months after the Rise of the Data Cloud, which you wrote with Steve Hamm. I mean, that's how I felt at that time, like I had no more to give.
H4 Port Of Entry Documents,
What Time Do Speed Cameras Turn Off On Weekends,
Liverpool Fans Obsessed With Man Utd,
Articles F