Slootman likes to say that he doesnt have a formula, even after having pulled off similar magic at both Data Domain and ServiceNow. CNBC Snowflake books its revenue using a "consumption model," Slootman said, rather than a typical subscription . He helped define the architecture and lead database performance efforts for Bulls parallel systems. 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. Had they I exercise executive prerogative, he adds. I have empathy with a lot of quarterbacks who dont know to retire, he says. Slootman retired in 2017, but the break was short-lived. The issue was not Do I like the company? The issue was How many shares do I get? he recalls in his Dutch accent. Before Google, Greg spent six years at Sun Microsystems, working on Java runtime environments and operating systems. Prioritizing the development of raw talent with high upside, Slootman was able to stabilize Compuware. Around the same time, he began meeting with research analysts who would wind up setting bullish prices for the IPO. Frank further added the fact that he always felt like he was born in the wrong country. Teresa Briggs is a senior executive with deep experience in strategy, business transformation, and governance. He is still on the boards at Pure and Elementum. The eight-year . And eventually, his journey led him to Data Domain. However, at the age of 26, Frank moved to the USA in 1984 to work for Burroughs. re-enter the workforce. My eyes are on the horizon., Covering venture capital, cloud and startups. In his 2018 LinkedIn post, Slootman wrote that he had "nothing against 'diversity and inclusion' as long as it results from our goal-oriented modes of execution. Data Domain was running out of money; its technology, while theoretically more powerful than the existing alternatives, ran prohibitively slowly. I have never crossed paths with Larry Ellison on the sailing front although Ive had many crew over the years who sailed with Larry. The investigation was dropped in February because of a technicality, and Brady was given a warning. I have American citizenship, which I treasure greatly, but there is no denying my Dutch roots. 2 min read. These are people we knew from previous rodeos, Slootman says with a shrug. The assignment itself was another challenge: Compuware was bleeding employees to Silicon Valleys emerging powers. Jeff Bezos As for Slootman, he has reached nearly mythic status in Silicon Valley as he continues to captain the ship at one of the industry's most prominent success stories of the past decade. Snowflake Inc. CEO Frank Slootman apologized in a blog posted on Monday about comments he made to Bloomberg TV last week in which he said diversity should be . An animal-rights philanthropist, Slootman allows his 8-month old Labrador puppy, Brida, year-old Golden Retriever, Quinn, and 10-year-old gray tabby cat, Portia, to crash his work-from-home meetings, including fact-checking calls from Forbes. that upside with me at the helm. About a year after he came aboard, Slootman took ServiceNow public on the New York Stock Exchange. Greg has a PhD in Computer Science from Cornell University, an MBA from UC Berkeley, and an undergraduate degree from AGH Krakow, Poland. Experts say Snowflake, which today has a market valuation of nearly $77 billion, has been bolstered by therise of remote work during the pandemic. By the close of Snowflake's first day of trading, its stock had shot up as much as 165%. Slootman: I admire Country of residence : Unknown. At the Start your free trial. with a proven track record to grow companies even more quickly and take to IPO. And the reason is, CEOs are only there for one reason, and that is they need to win. from the U.S. Military Academy at West Point and a J.D. He also co-founded Epinions.com, worked as a consultant at McKinsey & Company, and was an analyst with CS First Boston. "He was the king of the hill. It was a very high Shelly Begun, who was also at ServiceNow and Data Domain, came on board as the head of human resources. That doesnt "He was very focused on winning the races, and he won pretty much everything," Robbie Murphree-Gabriel, the former logistics manager of Slootman's sailing operation, said. I dont like there to be too Buying up cloud storage credits from Amazon and its rivals and reselling them, all while keeping Snowflakes own software running, was costly, especially as Snowflake expanded to new markets such as Australia. This is the fundamental premise of a hard hitting new book written by Frank Slootman, chief executive of Snowflake Inc., and published earlier this year. many layers between me and the action. He spent 13 years at Oracle focused on the optimization and parallelization layers in Oracle databases including as lead for the optimization group. Talking about his decision to come to the states, Frank expressed in an interview; how he had never worked in the country where he was born. "That was kind of awesome. "He's very much like 'Don't ask me to do things that optically look good or that are PC because that's not Frank,'" he said. My whole career was doing jobs that other people didnt want to take, he says. And it was the right thing to do," Muglia recently told Forbes. Slootman: My role "And so I think by remaining neutral, you can allow everyone the freedom to have their own opinion and then keep that separate from work.". John was responsible for $1.4B in annual revenue, when he served as Senior Vice President of Worldwide Sales and Services at BMC Software. "We all saw the LinkedIn and were like, 'OK, we know what we're getting into now. warrants. His dream employer: IBM. His personal net worth, an estimated $2.2 billion, is an extraordinary figure for someone who has never been part of a company in its earliest days. Frank Slootman Bio: Early Life. In 1982, after a number of rejections from Big Blue, he crawled ashore with $100 in my pocket (a phrase he repeats so often his employees know it by heart) in South Bend, Indiana, with a job as an intern in the seemingly dead-end fake-leather industry. It doesnt matter how good you are or how bad you arein the wrong elevator, youre going to get hosed. Eventually, he was able to shift to the up elevatorcomputersfirst in Detroit, then in Ann Arbor, Michigan, where he moved customers off mainframes to more modern server products. The flip side: sticker shock, as companies bills rapidly grew, and unpredictability, as Snowflake struggled to deliver accurate revenue projections. Scarpelli got to work on Snowflakes books. Insiders say the CEO doesn't care about social causes. Jeremy also served as Veritas Executive Vice President of Data Management Group and Chief Marketing Officer. From September 2019 through August 2020, Teresa is enrolled as a Fellow at Stanford Universitys Distinguished Careers Institute. Sylvia was previously Vice President, HR Technology and Digital Experience at Snowflake. One major cause for the shock: By all appearances, Snowflake wasnt strugglingand it already had a high-profile CEO. It is highly unusual for a board to make leadership changes in a company that is Todd Johnson/San Francisco Business Times, Christie Hemm Klok/The Forbes Collection via Contour RA, NOW WATCH: Companies ignoring climate change will be on the 'wrong side of history,' says World Economic Forum executive chairman. But Slootman was more interested in running the show, and Snowflake seized the opportunity. Frank Slootman Net Worth, Wiki, Bio, Family, Age, Wife / . Published Apr 13, 2021. Blocks & Files is interested in finding out more about his Have I told you my point of view on boards? Which was then followed by his association with Compuware and software company Borland. Prior to joining Snowflake, Mike served as CFO at ServiceNow from 2011-2019. Chief Revenue Officer. Denise Persson. Frank Slootman Bio: Early Life. time I joined, Data Domain had about 20 employees, no customers, no revenues, fire the CEO. character and had an email interview opportunity. So far, Snowflake is outrunning its competition. Mr. Slootman served as CEO and President of ServiceNow from 2011 to 2017. They were all out there to foul us, to do whatever they can to trip us up. [1] In June 2012, ServiceNow became a publicly-traded company as Frank Slootman led the company through a $210 million IPO. through the acquisition of Bix, where he served as CEO. At ServiceNow and also at Snowflake you replaced previous CEOs who had already built the companies to substantial sizes. The couple has been married for many years now, but the timeline of their wedding and relationship isnt made public. Should Snowflake stumble on its numbers, or if exuberance fades, employees who made their money in the IPO might not want to stick around. Source of Wealth Software, Self . Subscribe. Insiders said Slootman has torn up the do-gooder playbook of Big Tech's liberal elite and replaced it with a hard-charging, profit-driven ethos that doesn't pay lip service to things like diversity and social justice. Chief revenue officer Chris Degnan figured his lack of experience in such a structured sales organization would be enough for Slootman to show him the door. to sell more than all its competitors combined. In 2003, he became CEO of storage startup Data . It was hard for me to work in a big company, too slow and rigid, just not inspired. ", There were no employee-resource groups at ServiceNow, she said, and endeavors like creating a diverse workplace were "not a priority. by Laura Draper, Head of Content. Frank took us from a very large startup and made us into a very large, well-oiled machine, Luddy told Forbes in 2018. "You could not escape the combat mentality at our companies. Some spoke on condition of anonymity, but nearly all described a militant CEO who's part of Silicon Valley's less talked-about conservative wing, a group that includes Palantir's Peter Thiel, Tesla's Elon Musk, and Oculus' Palmer Luckey. Slootman knows exactly what he's doing. Data Domains revenue more than doubled each year for the next four years. Slootman told CNBC in October that he had no time for Silicon Valley's "lattes and neck rubs" culture. While some in Silicon Valley warn of a backlash, Slootman's main concern is winning. He'd stay for 20 or 30 minutes, and the customers' jaws would drop and they'd be on the edge of their seat. Harnessing the clouds flexible computing output as if it were one giant supercomputer, Snowflakes software could locate and organize customers increasingly large amounts of dataconsumer information, product sales, employee overheadthen help make sense of it all quickly and cheaply enough to make it truly useful. Prior to working for Snowflake, Frank took the CEO spot at ServiceNow when it had less than $100 million in revenues and took it to $1.4 billion. Sign up for notifications from Insider! Mark also serves on the boards of Cisco, GoDaddy and Pure Storage. Born in the Netherlands to a military veteran and a portrait artist, Slootman had a childhood regimented by high academic achievement and racing sailing dinghies. ability to rapidly shift so-called modes is crucial. Eight years later, with Snowflake, he had to do it over Zoom. He helped define the architecture and lead database performance efforts for Bulls parallel systems. As Executive Vice President and CFO, Mark co-led Documentums $1.7 billion sale to EMC. Everyone, that is, except Slootman. "He would always crash my executive briefings," Wyss said. to shift gears to pure scale execution, and we are dealing with that now every After fighting so hard to become a CEO, Slootman doesnt know how to do anything else. Creative Commons Attribution-ShareAlike. 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). Chris has over 20 years of technology sales experience. So its showing them a really nice path forward. When Slootman attended all-hands meetings, he "would drop f-bombs and s-bombs," the executive said. Snowflake Inc. CEO Frank Slootman is one of the tech world's most accomplished executives in enterprise growth, having led Snowflake to the largest software IPO ever after leading Data Domain and ServiceNow to exponential growth and the public market before that. The vast majority can already be exercised but the underlying shares vest monthly over four years, beginning . Snowflake CEO Frank Slootman sat down recently for an episode of our Rise of the Data Cloud podcast to discuss what the Data Cloud means for businesses - and what the future holds. Slootman, who was born in the Dutch city of Huizen, 20 miles from Amsterdam, immigrated to the US in 1982 when he was in his 20s. He is also on the board of Maplebear, Inc. and Elementum Ltd. (United States). We were undoubtedly slow "Don't go to him for the touchy-feely feelings and advice. In 2014, after two years under the radar focusing on shipping the software, Speiser tapped Muglia to replace him as CEO. Why do you, as it appears, prefer that? During the next six years, Data Domain grew Prior to joining Snowflake, Sunny held Corporate IT and Operations leadership roles at Nvidia from 2008-2020 as they scaled from less than 2,000 employees to 15,000. [3] On September 16, 2020, Snowflake made an IPO, selling 28 million shares and raising $3.4 billion, making it the largest software IPO in history.[4]. Kramer holds a bachelor of science degree in mathematics from Purdue University and received the Purdue University College of Science Distinguished Alumni award in 2017. Released January 2022. Amp It Up. In the past Mr. Slootman occupied the position . The son of a military veteran and an artist, Slootman studied economics at Erasmus University in Rotterdam, Netherlands, before moving to the US with a dream of working for IBM, the CEO told Forbes. Since the start of the pandemic nearly a year ago, there's been one word on the lips of every business leader, analyst, and investor around the world: cloud. After the Data Domain acquisition, Slootman spent two years inside EMC as president of the Backup and Recovery Systems Division. The success was because of Slootman and his share on the company is 30% hence making his net worth as of 2020 is 1.8$ billion. Prior to founding Snowflake, Benoit was with Oracle for over 10 years as a lead architect for parallel execution in Oracle RAC and a key architect in the SQL Manageability group. And eventually, his journey led him to Data Domain. The thing I liked about sailing was that if you make a mistake, its obvious within minutes.. Earlier in his career, he spent nearly a decade at Oracle as Senior Vice President of Product and Services Marketing. And there'd be some praise or whatever," Chandna said. In addition to her board responsibilities at Deloitte, she has held a number of governance roles with professional and community organizations. "I've literally never met the man," he said. In a rare interview, the press-shy Speiser discussed the difficult decision to fire Muglia: When you have the potential [to build] one of the game-changing companies of all time, you should take the chance., Just one problem: No one told Muglia until the day the company announced the coup. See Bio. He had built a monster and Data Domain still dominates the purpose-built backup appliance market, 11 years on. He talked about several new and exciting trends, including Snowflake's increased focus on vertical industries, new ways that customers and partners will be able . In 2019, before the company went public, Slootman made more than $60 million in total compensation. by Frank Slootman. Having built ServiceNow to a market cap of $14 billion by 2017 (its valued at seven times that today), Slootman was focused on bringing back professional yacht racing to California and running a conservation and animal welfare foundation from his Montana ranch. Chairman and Chief Executive Officer. Frank Slootman is the Chairman and CEO of Snowflake. Scarpelli holds a bachelors degree in economics from the University of Western Ontario. 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 California coast to the Hawaiian island of Oahu, on Invisible Hand, his sleek 52-foot sailboat made from carbon fiber and 3D-printed titanium. Speaking publicly about his departure for the first time, Muglia tells Forbes that it took him months to get over the shock. Franks wife, Brenda, who is also 61 years old, is the Vice President and Secretary of the Slootman Family Foundation. The former Snowflake executive said Slootman always set the expectations high, and then higher. Was it purely the job with Burroughs or was there something else? Previously, Sunny has held leadership roles at VMWARE, JDSU, Deloitte Consulting and Andersen Consulting. come along often. Its much easier to select [Snowflake]., One unanticipated challenge, however: Snowflakes current stock price, which has exceeded even Slootmans expectations ,and which, as of mid-January, was trading at a revenue multiple of 140 times its estimated fiscal 2021 revenue, ahead of cloud darlings Crowdstrike, Okta and Zoom. These are multiples, frankly, that the world hasnt seen since the internet bubble in 1999, says Brad Zelnick, an analyst at Credit Suisse. Slootman did not respond to requests from Insider for comment. An established thought leader, Teresa created Deloittes onBoarding Academy, a board readiness program, and she has demonstrated her commitment to board diversity through creation of Deloittes Women on Boards program. "But he felt as though he were a minority given that he was an immigrant," the former employee said. Many of them found a May 2018 LinkedIn post by Slootman in which he compared working at the cloud-service firm ServiceNow and the data-storage company Data Domain to being in the Marine Corps. Tell me more, Asheem.' doing well, like Snowflake. The Slootmans also have a ranch in southwestern Montana. Staffers started frantically Googling their new boss. See Bio. I become the CEO I need to be, the one that the situation And while some warn of a backlash, for Slootman, who has compared himself to World War II Gen. George S. Patton, his main concern is winning. Otherwise, Im going to go ahead and run the company.. Billboard ads with corny messages like Happy Holi-data soon lined Silicon Valleys main highway, U.S. Route 101. Along the way, investors witnessed his brusque leadership style firsthand when Leone made the mistake of interrupting Slootman with unprompted advice in a board meeting. "You know, you're not going far enough, you're not going hard enough, you're not going fast enough. Forthright Slootman was brought into the world on October 3, 1958, and is 61 years of age as of September 2020. He is also on the board of Maplebear, Inc. and Elementum Ltd. (United States). Snowflake CEO Frank Slootman, former CEO Bob Muglia, and cofounder Benoit Dageville are now billionaires after the data storage firm's blockbuster IPO, The eight-year-old data storage firm shot up as much as, Even before his official induction into the three-comma club, Slootman was. In his book enters into it, but I try not be a pattern matcher or be confined to my own Its [always] been too late. You constantly live with that terminal fear of not doing enough.". Slootman holds undergraduate and graduate degrees in economics from the Netherlands School of Economics, Erasmus University Rotterdam. Are you now a professional CEO rather than a startup boss? It currently boasts a market capitalization of $81 billion on trailing sales of roughly $580 million. Cofounders Dageville and Cruanes are counting on Slootman and CFO Scarpelli to steer Snowflake through the stock markets gyrations. "My wife's still wondering what the hell happened.". Its technologyquicker to offer cloud data warehousing than Oracle, Teradata and other database companies but challenged at every turn by Redshift, Googles Big Query and Microsofts Azure Synapse productsrequired a large and continuous amount of R&D spending. Sylvia serves as Chief Human Resources Officer at Snowflake. But behind the scenes, months before WeWorks epic IPO-attempt flameout helped make profitability cool again, Snowflake was shaping up to become the tech industrys next great cautionary tale. I need to spend the little bit of time I have left over with my family, not sailing. Chandna mentioned a Greylock startup that planned on tripling sales. "You're in a battle, and the battle doesn't end until you finish that race," Gabriel said. When he became CEO of Snowflake, Frank Slootman cut costs, including the company ski trip to Tahoe. I will return to it at some point. Thierry has a PhD in Computer Science with a focus in Database Systems and holds over 70 patents. "He's not somebody who has a need to be liked.". I was rejected at least a dozen times by IBM. I was never a mainframe guy. I never worked in Holland, but was born, raised and educated there. "CEOs can sometimes suffer from a kind of weakness where they want to be liked," Asheem Chandna, a software investor at Greylock and a friend of Slootman, told Insider. But . 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. However, at the age of 26, Frank moved to the USA in 1984 to work for Burroughs. During her 20 years with General Electric, she held other CFO roles including CFO of GE Healthcare Biosciences, a division in Life Sciences and Molecular Diagnostics. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. And when you lose, nobody can help you., During his short-lived retirement, Slootman raced aboard his Pac52 Class 52-foot yacht, Invisible Hand. How would you define your role? "So Frank talked to me for two minutes and he was, like, 'Wow. Under the companys Amazon-style pricing, customers could easily expand their usage over time. Age 64. So, the day after Snowflakes public offering, he was back to business as usual, demanding that executives present their plans for the next quarter and beyond. One year later, he took the company public with share prices that valued the company at more than $2 billion. As Slootman put it: "I'm not the leader of the free world. This page was last edited on 12 March 2021, at 18:12. The former sailor runs pre-IPO companies like a tightly rigged high-performance watercraft, a captain with extreme confidence who will throw overboard anyone who shows the mildest mutinous inclination. Slootman hasn't shied away from embracing his right-leaning tendencies in a liberal-dominant industry. With an exit in his back pocket, Slootman had his pick of companies for his next act, in 2011. situational and operate on so-called first principles. mean there isnt room for discussion and debate but I will never create or I never talked to other companies. At Microsoft, he served as General Manager of the Data Warehousing product unit where he was responsible for a broad portfolio of products. Some employees were irked when the CEO shut down a leased WeWork office in San Francisco and instead rented a new office space in the East Bay area that happened to be a 10-minute drive from Slootman's home, one former executive said. Denise holds a BA in Business Administration and Economics from Stockholm University, and holds an MBA from Georgetown University. 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Presents at Goldman Sachs Communacopia + Technology Conference 2022, Sep-14-2022 03:45 PM. Snowflake, valued at $4 billion when Slootman took over, more than doubled that first day and is up significantly since. Mark holds a B.S. From what we have known, Frank Slootman is married to his wife Brenda Lynne Slootman. Its about getting this entire organization to go in one direction.. 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. Similar is the scenario with his married life. In his new book . Teresa has been a stabilizing force in the C-suite and boardroom of influential companies across the technology, retail, consumer products, and healthcare industries. He joined Yahoo! She would also help a board address key issues including digital transformation, human capital, governance, and M&A. concealing modifications he made to another owner's boat. Slootmans my-way-or-the-highway attitude caused a stir when he arrived at Snowflake on April 26, 2019, hours after cofounders Benoit Dageville and Thierry Cruanes informed well-liked CEO Bob Muglia, a Microsoft veteran, that his services were no longer required. Analysts say it continues to beat Amazon and the tech giants products head-to-head; as Snowflake gets bigger, it can negotiate better rates, too, driving down its operating costs. Frank served as President of the Backup Recovery Systems Division at EMC following the acquisition of Data Domain Corporation/Data Domain, Inc., where he served as the Chief Executive Officer and President, leading the company through an IPO to its acquisition by EMC for $2.4B. data warehousing is shifting inexorably to the cloud, Scale Computing: Idea that customers should run multiple edge compute platforms is absurd, S3, file access and high performance this is not your old object storage, UniFabriX doubles rack server density with CXL, Single sales rep inflated WANdisco numbers, Komprise service auto tiers files to Azure blobs, Pure Storage updates FlashArray Purity OS, ChatGPT hype snags database startup $100M. gianna bryant last words before she died,
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