And how that allowed him to grow Snowflake into the biggest software IPO ever, and how. We played a round of golf. 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. No, we're talking about stuff that's not working well. And it's very rare to create that kind of value. I don't know what, if you go back to those days. 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. It was doubling. He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. And that's a whole different deal. 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. Greg Gianforte and former congressman and U.S. And for example, when I joined Unysis, I ended up in a corporate planning role. I can just blow a year on doing some other stuff that's interesting." This is the name that will be displayed next to your photo for comments, blog posts, and more. And my email just dribbled down to nothing and all this kind of thing." It's a small country, obviously, which is why they sort of veer far and wide. 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. 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. It allows corporate users to store and analyze data using cloud-based hardware and software. All of us, no exceptions." You need to be invested in the moment, in the present, rather than I'm thinking about my next move. We tried to, we wanted to get into primary storage. In Amp It Up, you're pretty open about the struggles the company faced in its business and leadership. I hate 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. And you need to have the flexibility of mind to really deploy yourself. It will be fine. They're kind of like whine and bitch all day. And when you let it happen, you get feed-ups. This is very much a country that believes things that other countries don't believe. And that is a common thread through all our companies. New competitors, new partner ecosystems, so it was like, "Wow, this is the future." 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. 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. And I had already made a little bit of a name for myself in the company. Obviously, that required even more resources, so we really had the strategic dilemma that we couldn't grow beyond our core market. 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. And that is our culture. But eventually, I returned to Holland about a year later, resumed my education. 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. I don't think about what's next. And by the way, data platforms have been extremely fragmented historically. That has helped make Chief Executive Officer Frank Slootman one of the best-paid technology executives. 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. Don't typecast yourself." Your purchase was successful, and you are now logged in. 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. Veteran tech executive Frank Slootman was retired and racing sailboats last year when an old friend reached out. So, we're going to be in the middle of that. And our conversation with Frank Slootman on how he amped up his career scaled three companies and the lessons he wants to now share with the world is coming up right after this. And then Snowflake is again, a totally different. This book is essential reading for every leader who aspires to motivate teams, inspire excellence and deliver beyond expectations. Slootman, 61, is a professional CEO. While CEO of ServiceNow prior to joining Snowflake, Slootman contributed the It was an application development and runtime platform to run on both Unix and OSU and Windows all at the same time. That takes very different approaches, orientation, skill sets, and so on what you do. You guys are a data company, you know as well, right? 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. Well, that's because historically all we did was we did analytics in silo. Thanks so much for joining us inside the Ice House. swig secret menu; pete postlethwaite brother; My Cart. Our headquarters is in Atlanta, Georgia. Quick digression. It's like, "That's not exciting." On May 26, Slootman asked shareholders to be patient with the companys stock because the cloud transition is not happening overnight. 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. Not all CEOs have this, but a lot of CEOs do. Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? So, I really lift that cross and the chasm dynamic. 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. 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. WebPortuguese products available Online we mail to all lower 48 states. Things will change in ways you cannot even imagine the ideas that happen. 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. Snowflake is a cloud computing-based date warehousing company. As I said, what comes around, goes around. "Over the last 20 years I have been fortunate to watch Frank Slootman build a Hall Of Fame career. That's why they're big in banking and insurance and distribution and logistics. It was great and it lasted the entire duration. Frank has over 25 years of experience as an entrepreneur and executive in the ent 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." 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. View the full release here: https://www.businesswire.com/news/home/20220119005295/en/, AMP IT UP: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity, by Frank Slootman, chairman and CEO of Data Cloud company Snowflake. And companies that have been around a long time, it's near to impossible to undo the culture. Amp It Up, Frank, you write a lot about building culture and I think you had some issues at Snowflake when you got there. Yeah. Before the break, Snowflake's CEO, Frank Slootman and I were discussing his career. Give me that train wreck. Well, you think you're just going to turn it off? And we were babes in the wood back then. They're very well dialed into it. As young as I was, I mean, I was determined that that's where I wanted to be and certainly, not hardware because I saw another way for commoditization happening over there. I often refer to those people as passengers and then, they're the drivers. And the whole point of the book is I try to contrast these experiences, like look, they're not the same. I'm buying aptitude and then I'm going to develop that with experience, right? People that the company really, really runs on. I look at the situation, "What does this require?" Are you happy with the performance of the 2023 Montana Legislature. I mean, you probably have even a sense of things that you know you're not good at. $2.1B. It's up to 79% of the volume has gone cleared. If you value these stories, please consider subscribing. I mean, that's how I felt at that time, like I had no more to give. Everything in our world starts with technology, starts with architecture, okay? And that's exactly what we did. 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. 89/100. Right, you got a good point. Phone Email. Now, it was actually pretty interesting because this was sort of a forerunner of a data analytics, business intelligence type of company. 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. Frans van Houten, CEO, Royal Philips. So, this is not data warehousing, it's just one use case. By the way, our two largest competitors were both bidding for the company at the same time. You ever noticed that NFL quarterbacks just can't leave the stage. Buyers and sellers can come together. Your account has been registered, and you are now logged in. As Snowflake got bigger in 2019, the company knew it was time for leadership to take it to the next level and brought in today's guest, Frank Slootman, as CEO. And are there any particular secrets to building a consensus around the idea of change? 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. Snowflake runs onAmazon S3since 2014, onMicrosoft Azuresince 2018and on theGoogle Cloud Platformin 2019. That's where we're at right now. I only think about now and what I'm doing today. If you are looking for a must-read about leadership, being focused on your mission and executing at the highest levels, this is the book!" Frank Slootman, CEO of Snowflake, on the day of its 2020 IPO, Sept. 16th, 2020. The consequences of your action are like right there. They're very safe. Released January 2022. In the book, I go on and on about what some of those issues are. When a company is buying a million dollars from you in the course of a year, what are they getting? And there were many, many players in that segment, by the way. Everyone's watching. The eight blocks of the street run from Broadway in the west to the East River in the east. 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. Frank Slootman currently serves as Chairman and CEO at Snowflake. If it's not related to our core mission, we don't want to hear about it. Everybody has access to talent. I mean, there's many jobs in companies and some of them are quite far removed. And over time, we overcame that because we were laser focused on making the product bigger and faster every year. Snowflake offers a cloud-based data storage and analytics service, generally termed "data warehouse-as-a-service.". In 2019, Slootman's boat manager, the former Olympic sailor Gavin Brady, was investigated by World Sailing, competitive sailing's governing body on suspicion of concealing modifications he made to another owner's boat. The investigation was dropped in February because of a technicality, and Brady was given a warning. They've never really been asked that before. But that is what digital transformation is. Our business is really going to conduct itself really over considerable, long periods of time, Slootman said in an interview with CNBCs Mad Money. Create a password that only you will remember. The company is credited with reviving the data warehouse industry by building and perfecting a cloud-based data platform. 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 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? Frank has over 25 years of experience as an entrepreneur and executive in And that really allowed me to do this at 6:00 AM on weekdays and weekends and the holidays. And then being able to talk about it in an intelligent, really rich-considered manner. This book is essential reading for every leader who aspires to motivate teams, inspire excellence and deliver beyond expectations. Bill McDermott, President and CEO, ServiceNow Well, the number one bit of advice I would have is make sure you're close to the drive train. Slootman has also contributed money to political campaigns for both Gov. 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. View our online Press Pack. They did not try to carry technology or ways of thinking forward. So, we started to wind down a little bit. People who have seen sort of the ticker symbol of Snowflake pass their eyes on CNBC and see how its companies perform and say like, "What is that company with the name after falling snow from the sky?" How does having who's worked closely with you for years help you accomplish your goals of hyper growth without losing focus? Snowflake, a data analytics and warehouse firm, which Forbes valued at about $60 billion, said in an an earnings report released Wednesday that its executive offices have moved from California to Bozeman. No-Headquarters/BOZEMAN, Mont.--(BUSINESS WIRE)-- What are your God-given talents? "Frank Slootman is one of the best-performing CEOs there is. Amp It Up tells that story and how it can be recreated in other organizations. 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. But your culture is the only thing that's really unique to you and everything else is up for grab for anybody else. What attracted you to the space? Right? What's the playbook?" Data has no opinion. The company recently announced it will be moving its corporate headquarter from San Mateo County, California, to Bozeman, Montana. We cannot just read our emails and have a few phone conversations and know what's going on. It was able to separatecomputer data storagefromcomputingbefore Google, Amazon and Microsoft. In other words, somebody who has lived their lives over and over. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. But backup recovery still largely dependent on tape and tape automation technology, so we created a tape. Over his distinguished career, Frank has mastered the process of fundraising scaling and building young companies into unicorns with the run ending eventually way back here at the corner of Wall and Broad Streets with an initial public offering. So, I just had some peripheral view of the company, as well as its strategic challenges, by the way. Snowflake shares are also down 16 percent year to date, as investors have rotated out of high-flying growth names into economically sensitive companies that stand to benefit from the Covid recovery. We're driving change. You can sign up for additional alert options at any time. And Mike was still the CEO at ServiceNow at that time. I use that expression a lot to say, "Look, data operations is going to become your core." I mean, it gets rid of you. But it's also, you attack and you cross again. And Americans always think that there's an easy answer to these questions. And then, I had another internship after that. And obviously that is not the best way to go about things because that's just one man's opinion against another, right? Snowflake enables every organization to mobilize their data with Snowflake's Data Cloud. That is the X factor in companies, but it starts with weaponizing the mission. 89/100. Dynamic search and list-building capabilities. Free Tools ; Leads by Industry ; Frank Slootman. Publisher (s): Wiley. 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. 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. Thomas M. Siebel Chairman & CEO. It was sort of an adjunct to what they called the computer industry back then. Make it as easy as I could make it. 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. But now, and the influence of data science, we really have to interrogate data regardless of its silo boundaries. Insurance companies historically have not been because they are data companies by their essence, right? But it's not what it really is, so it wasn't an enormous surprise to me to come here. Slootman stressed that the companys software is only becoming more important as enterprises shift away from databases tied to hardware. by Frank Slootman. I'm a miserable golfer, but somewhere along, the 18 holes, he's like, "I'll do it, but don't leave me again." See what you can do with it" to data driving operations directly, right? You're no longer using data to basically please a bunch of eyeballs, like, "Hope you like it. And it's just, it's intoxicating that energy. The couple live in the Ruby Hill gated community in Pleasanton, a serene San Francisco Bay Area suburb where the typical home is worth $1.2 million. It's about 40 miles from Snowflake's San Mateo headquarters and a 3.5-hour drive from Lake Tahoe, where the Slootmans have owned a home. The Slootmans also have a ranch in southwestern Montana. Back then, there were hardly any software companies around. The Amp It Up process features five key steps to boost growth and meaningful change, including: Leading for growth means declaring war on mediocrity, breaking the status quo, and making choices, all with a relentless focus on the mission. This is really think about it as a database in the Cloud. And obviously, I got that in spades at UN Royal in Indiana. They want to know what bad behavior is. But the problem with tape was, I mean, tape got lost, tape became unreadable. So, I did. Now, we're going to go move the pieces and I'm just a piece on the chessboard." 3,990. We had no experience. I mean, it's like when people start to roll their eyes. Spark 30S covers a route between the US Gulf coast and Northwest Europe, while Spark 25S covers a route between Australia and China. And now, I feel like I'm being haunted, by this Dutch thing, this cloud that's hanging over me." I'm the opposite. I hate to break it to the audience, but that is the way that it is. among us texto copiar y pegar But we didn't have the market capital resources to do that. And that's all coming up right after this. So, we won a lot of outraces. Never seen the inside of an office or anything. 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. The nascent liquidity of spot LNG freight markets, and the volatility of time charter rates has boosted demand for risk management tools. The company recently announced it will be It's been extremely successful since we took over. It could address very few use cases. Information contained in this podcast was obtained in part from publicly available sources, and not independently verified. And of course, the appetite is insatiable for both technology and people that know how to make this future happen. Right? 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? And in other words, what problems can I solve very quickly versus what is going to take longer to solve. WebSlootman has spent a lot of time and money in Montana in the years. It allows corporate users to store and analyze data using cloud-based hardware and software. 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). (Graphic: Business Wire). At some point, we were going to get stunted in our growth. And then of course, Michael Dell found just as attractive to bring EMC into Dell. So, it just started to happen, but I wanted to desperately be in software at that time. Welcome back. I mean, people go from spending $50,000 a year to a million dollars a year in one year and they're like, and the CFOs go, "What the hell is this all about?" right? The company is credited with reviving the data warehouse industry by building and perfecting a cloud-based data platform. And for our audience who may not remember the days of tape backups, can you explain the underlying concept that you grew from two men and a dog into a multibillion dollar business? 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. Bureau, Marketing Right? In other words, as a leadership team, it's not just the CEO. A lot of people think that that's possible, but there's a real limit to what salespeople can and can't do. And did you have a sense that the sector was really about to explode? And the other thing I'll say is we maintain a very, what we call a malcontent attitude. Stories, Leadership & 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. We will talk to you next week. Okay. If you like what you heard, please rate us on iTunes, so other folks know where to find us. I mean, one of my favorite, interview questions has always been, "What kind of people succeed here? 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 They just said, "Look, let's re-envision, re-imagine based on the platform realities that we now have, which was the Public Cloud. 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. It's hard to get off of that. WebFrank Slootman Chairman & CEO. It enables businesses to store and analyze data using cloud-based hardware and software. If you experience any issues with this process, please contact us for further assistance. Architecturally, just damn near perfect, so. While CEO of ServiceNow before joining Snowflake, Slootman contributed the maximum sum allowed It still runs as an auction in rounds of 30 seconds and final price were used as the benchmark for the entire gold market. Our guest today, Frank Slootman is chairman and CEO of Snowflake. 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. What you're doing now is doing pretty good, so keep yourself in the game, Frank. Were not a growth-at-all-costs company., Heartbroken dad issues warning after son, 13, dies in TikTok challenge, Red flag after possible suspect in missing brothers case made eerie request, Two dead and four injured after 19-year-old 'opens fire at prom after party', $80k reward offered for shooting suspect Francisco Oropesa after five killed, 2020 THE SUN, US, INC. ALL RIGHTS RESERVED | TERMS OF USE | PRIVACY | YOUR AD CHOICES | SITEMAP, Frank Slootman owns about 10 percent of Snowflake, Snowflake is a cloud computing-based date warehousing company, Snowflake's shares tumbled as much as 8 percent on May 26. You have permission to edit this article. 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.
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