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. 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. 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. Engineers should have a very easy time discerning the talent, so. I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? Frank Slootman - Narrow the Focus, Increase the Quality - [In 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. New competitors, new partner ecosystems, so it was like, "Wow, this is the future." Bachelor of Science, Erasmus University Rotterdam, The Netherlands; Master of Science, Erasmus University Rotterdam, The Netherlands. 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 . And people would eyeball those reports in those dashboards, and that was sort of the extent of it. 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). 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. 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. 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 now, welcome inside the ICE House. 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. Who can solve what set of issues, right? In other words, wants to call it out, wants to prosecute it because you can see good behavior, bad behavior around you all day long. SAN MATEO, CA - May 1, 2019 - Snowflake Inc., the only data warehouse built for the cloud, today appointed Frank Slootman as its Chairman and Chief Executive Officer.Former CEO, Bob Muglia, has left the company after leading Snowflake through five years of unprecedented growth. Now, we're going to go move the pieces and I'm just a piece on the chessboard." I don't have to go work on Monday. And I've never been able to equal that level of success with a marketing slogan. And the reason that I found it so interesting is technology was mesmerizing. Okay? What did that initial scaling up to that point and then the public exit experience teach you about why being acquired was the right choice for Data Domain? And it worked like that for about a hundred years. We're going to nuke an entire industry out of existence. By the close of. 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. It's really a company production, by the way. 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. Because of his much sought-after expertise, Slootman gets paid a decent sum of money. But then again, there really is only one Frank Slootman, IPO master in the world. And rightfully so, by the way, because they have created something, right?. Learned an awful lot in that period of time. It's been extremely successful since we took over. They only learn from consequences, so you got to create consequences, good and bad when things happen and things happen all day long. I mean, we lived in absolute terror. They sold the living hell out of that product. 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. Before that, he spent his life in Netherlands, where he was also born. 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The ambitions that happen, the boldness that happens as a result of that, that becomes the magic. Some portions of the proceeding conversation may have been edited for the purpose of length or clarity. And then Snowflake is again, a totally different. Make the connection to a global natural gas market at ICE, get started with ICE LNG freight futures today. 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. I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." Can you explain how you overcame both to lead the company through its 2012 IPO? Don't typecast yourself." Now, you can be very obstinate about it and say, "Well, I'll eventually cross that bridge when I come to it," or you can try to anticipate it and say, "Okay, I'm going to find somebody who has the resources that I do not possess." [9] In June 2019, the company launched Snowflake Data Exchange. Every week there was a new bid. After all, he has experience on his side. All of which is presented solely for informational and educational purposes. It becomes the beating heart of a modern enterprise. That takes very different approaches, orientation, skill sets, and so on what you do. 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. Snowflake CEO Frank Slootman made headlines with controversial comments about diversity in the workplace. I only think about now and what I'm doing today. What's the silver bullet? You're no longer using data to basically please a bunch of eyeballs, like, "Hope you like it. You have to have data to partial reality, right? You cannot sell your way through a crappy product, okay? And then I change myself to become that flavor of CEO. The question is, what are you going to do? Like, "Yeah, why don't we just throw that guy into that fire and see what he can do with it.". Not all people are created equal in terms of their roles and their contributions in companies. 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. This page was last edited on 12 March 2021, at 18:12. In Amp It Up, you're pretty open about the struggles the company faced in its business and leadership. It's hard to get off of that. BUILDINGS. In this technological era, the field of analytics is vital as it makes it easy to access needed information without much of a hassle. 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. Never seen the inside of an office or anything. Slootman moved to Silicon Valley in 1997. Frank Slootman has written another book about how to run a business based on his time at Data Domain, ServiceNow, and Snowflake. What is the core of your being, right? 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. It is data operations from the most transactional to the most analytical and everything in between, so. You can only sail so much, [crosstalk 00:31:19]. It wasn't, and the company wasn't failing financially on its growth objectives. Nothing to do with financial targets or growth targets or market capitalization. We're always picking at things that could be better. And of course, people chuckled because they recognized it. Amp It Up, Frank, you write a lot about building culture and I think you had some issues at Snowflake when you got there. Another Dutch trend setter with the Winfrey title is Frank Slootman, the chairman and CEO of Snowflake. What kind of people fail here and why?" No, we're talking about stuff that's not working well. A decade after his death, fantasy artist Frank Frazetta still towers over the pop culture landscape as new fans discover his work. As cool as it may sound, Slootman doesnt actually have a literal invisible hand. Snowflake, while not yet generating $1 billion in annual revenue, leaped into the Cloud Wars Top 10 several months ago and . And over time, we overcame that because we were laser focused on making the product bigger and faster every year. 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. Better, better all the time. 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. Make it as easy as I could make it. Everyone's watching. I don't think about what's next. 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. Snowflakes debut on the New York Stock Exchange on September 16 under the ticker SNOW delivered the much anticipated blockbuster opening. I mean, the results speak for themselves. I'm in New York. It was just like Formula 1 of sailboat racing. Our guest today, Frank Slootman is chairman and CEO of Snowflake. Architecturally, just damn near perfect, so. They've never really been asked that before. There's no doubt, I'm a total hybrid here. When I was interviewing with ServiceNow, I said to the board, "I want to bring Mike along." Quick digression. I always tell my own people, "Look, I'm a piece on the chessboard, okay? 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. Reflects change since 5 pm ET of prior trading day. Because that's what it is. And we introduced a centrally cleared model with ICE as the central counterparty, because that makes it much easier for new firms to join. And Mike was still the CEO at ServiceNow at that time. And by the way, insurance companies are already pretty data savvy, but every single industry is experiencing these kinds of questions. And it was really my wife who said, "No, no, we'll go. Bunkers is basically a silo that's incredibly hard to access. Windows 3.1 didn't even exist. Steve Jobs didnt even own 1% of Appleeven though he had millions worth in shares. I can just blow a year on doing some other stuff that's interesting." [+] NYSE When Snowflake went public in the largest software IPO of the year on Wednesday,. And I say, "Stop putting labels on yourself. In other words, as a leadership team, it's not just the CEO. 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. So, I did. 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. 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. An in-house cafeteria replaced the usual catered lunch offerings, and sales representatives no longer had free reins on unexplained spending. He's a Dutchman Slootman moved to Silicon Valley in 1997. And also in sailing, you're always looking for new adventures, different platforms and things of that sort to sort of keep it interesting, continual learning experience and so on, rather than rinse and repeat. But he had also been the CEO of ServiceNow for seven years. And then obviously, a business that was at a sense of itself, of its product lifecycle, which has its own unique set of challenges. Right? Snowflake CEO Frank Slootman on moving the needle, win-first culture & managing burnout | E1689. Helping women become better in negotiation is an urgent and essential task for organizations and individuals.