Wyss said. See Bio. From 2017-2019, he was Vice President, Legal at ServiceNow, where he was responsible for corporate, securities, and M&A. After needing just over $5 million in investment in its first two low-profile years, by early 2018, when Snowflake reached a valuation of $1.8 billion, it had raised almost a half-billion. Experience obviously I just kind of fell into it," he said. Creative Commons Attribution-ShareAlike. When I was a younger man, I was more tolerant; I always thought I could coach people to a place where they would be great, Slootman says. Frank Slootman - Biography - MarketScreener.com by Frank Slootman. The book . 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. that upside with me at the helm. Denise Persson. From 2009 through 2011, Mark served as President and Chief Executive Officer of VeriSign, Inc., a provider of internet infrastructure services. Working with a wide range of clients including TPG, Nordstrom, Yelp, McKesson, and PG&E, Teresa earned her reputation as one of the most trusted advisors in the Bay Area. From January 2015 to December 2020, Kelly Kramer was Executive Vice President and Chief Financial Officer (CFO) at Cisco, managing financial strategy, and overseeing all financial functions, corporate development, mergers, acquisitions, integrations and investor relations for the company with total revenue for fiscal year 2020 of $ 49.3 billion and more than 77,000 employees. CTRL + SPACE for auto-complete. I also did not like SaaS that much as a business model, He spent 13 years at Oracle focused on the optimization and parallelization layers in Oracle databases including as lead for the optimization group. Prior to that, Frank served as President of the Backup Recovery Systems Division at EMC following an 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. Staffers started frantically Googling their new boss. The board was the one telling me to spend money, the board was just as strongly behind this. At ServiceNow and also at Snowflake you replaced previous CEOs who had already built the companies to substantial sizes. the board gives me the chairman title or not does not matter. But Slootman was more interested in running the show, and Snowflake seized the opportunity. She currently serves on the boards of ServiceNow (NYSE: NOW), Warby Parker and Snowflake. Thierry Cruanes. 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. Benoit co-founded Snowflake and currently serves as President of the Product division. Further, Frank also shed some lights on his early work experience at Burroughs. Slootman may be someone you wouldn't be comfortable sitting face-to-face with, but he's definitely someone you can listen to in a room full of people. A Pac52 sailboat like Slootman's Invisible Hand costs between $1.8 million and $2.5 million. past. Competitors include Vantage, SAP, Yellowbrick Data, Microsoft Azure and AWS. Frank Slootman received an undergraduate degree and a graduate degree from Erasmus University Rotterdam. The board, including Doug Leonean investor on Forbes Midas List and Sequoias coleader at the timetasked Slootman with doing for ServiceNow what he had just done for Data Domain. Frank has always refrained from talking about them even in his interviews. That push, which Snowflake says would increase its addressable market from $14 billion to a recent $81 billion, is very much a work in progress. Given her Audit and M&A Partner experience and extensive boardroom experience, she qualifies as a financial expert and is well-equipped for board and Audit Committee service. So why did the Snowflake VCs call on Slootman? In April 2019, Snowflake's board of directors announced that its CEO of five years, Bob Muglia, was being replaced. I will return to it at some point. Snowflake Appoints Frank Slootman as Chairman and CEO 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 . Slootman: Snowflake Of the virtual IPO he says, I absolutely loved it.. COVID-19 fundamentally changed the way businesses operate. Teresa Briggs is a senior executive with deep experience in strategy, business transformation, and governance. I just have to know that this is what I want to do. This prompted Apple CEO Tim Cook to describe Deloitte as the ideal partner. ", Slootman said he left ServiceNow in 2017 because "they started caring about things that I had no interest in.". The day he took the company public on Nasdaq in 2007, shares jumped 66%; two years later, EMC outbid rival NetApp to acquire the business for $2.4 billion. Blocks & Files: When you became chairman and CEO at Snowflake were you feeling restive? He is still on the boards at Pure and Elementum. Theyve clearly shown they Slootman and his crew won by nearly four hours. Frank explained. Published Apr 13, 2021. Denise has 20 years of technology marketing experience at high-growth companies. Thierry co-founded Snowflake and currently serves as Chief Technical Officer. Public asset : 162,785,053 USD. Chris Degnan. "Everybody was out to get him," Gabriel said. Instacart Appoints Frank Slootman, Chairman And CEO Of Snowflake, To The company is going to have a great outcome And 99 times out of 100, youre wrong on that, which is the reason I [now] pull triggers much faster. He holds a B.A. "They don't need me to have bathrooms with all kinds of unintelligible signs on it for what bathroom you're supposed to use," Slootman said. Shelly Begun, who was also at ServiceNow and Data Domain, came on board as the head of human resources. 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. I have empathy with a lot of quarterbacks who dont know to retire, he says. + Follow. I still dont think Ive ever taken anybody out of a job too soon. What's between them going even faster?'". Prior to that, Mark served in several roles at VeriSign, including as Executive Vice President, Products and Marketing. Frank Slootman. After the Data Domain acquisition, Slootman spent two years inside EMC as president of the Backup and Recovery Systems Division. In a December talk with Foundation Capital, Slootman said he had had "zero plans" to take on another CEO job. As Executive Vice President and CFO, Mark co-led Documentums $1.7 billion sale to EMC. What brought to the USA? While Slootman had success before Snowflake, he reached a new stratosphere after the company's IPO, his net worth skyrocketing to an estimated $2.2 billion. By the close of Snowflake's first day of trading, its stock had shot up as much as 165%. "You've got all the social-justice issues and all the politics that go with that," he said. In Amp It Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity, he shares his . 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. Very large enterprises are choosing a vendor to go to bed with for five years, minimum, says Patrick Colville, an analyst at Deutsche Bank. And the reason is, CEOs are only there for one reason, and that is they need to win. "Bob was kind of like your dad, just very jovial and happy, would walk around and talk to employees," the former executive added. He's donated $14,550 to Republicans in the past five years, according to the Center for Responsive Politics. 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 2017 and 2018, he donated $10,800 to the congressional campaign of Greg Gianforte, Montana's now governor who made national news in 2017 after body-slamming a reporter and getting elected to Congress the next day. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company.. Career. Prior to Oracle, Benoit worked at Bull Information Systems. By Labor Day, it had become clear that Frank Slootmans third initial public offering would not be like the other two. Time will tell, of course. With a few million dollars left in the bank, we "You're in a battle, and the battle doesn't end until you finish that race," Gabriel said. With Scarpelli's help, Slootman started cutting costs. With an exit in his back pocket, Slootman had his pick of companies for his next act, in 2011. Slootman: Sailing is in ones blood. However, at the age of 26, Frank moved to the USA in 1984 to work for Burroughs. "So if it's a company that people aren't really interested in working for, it's going to ultimately have an exodus of key talent.". to shift gears to pure scale execution, and we are dealing with that now every And when Slootman and his team virtually rang the bell of the New York Stock Exchange, a process that looked as awkward as it sounds, raising some $3.4 billion in the process, Salesforce and others were there to support the floor. O'Reilly members get unlimited access to books, live events, courses curated by job role, and more from O'Reilly and nearly 200 top publishers. 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. Slootman retired in 2017, but the break was short-lived. As we wrote in June 2019: data warehousing is shifting inexorably to the cloud, but customers still look for platforms that offer the traditional relational database tools at their core. Benoit Dageville co-founded Snowflake and currently serves as President of the Product division. And eventually, his journey led him to Data Domain. Hes, like, Im getting [to be an] old man, I dont have time to wait. Thats just how he operates, Degnan says. The investigation was dropped in February because of a technicality, and Brady was given a warning. In the mid 80s I tried to hire on out of school with IBM, they were the gold standard back then in the so-called computer industry. 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Presents at Goldman Sachs Communacopia + Technology Conference 2022, Sep-14-2022 03:45 PM. Data Domain was running out of money; its technology, while theoretically more powerful than the existing alternatives, ran prohibitively slowly. Sylvia Pagan. bar after ServiceNow. 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. Snowflake CEO Frank Slootman has been at the CEO game long enough to learn a few things or two on how to create a successful business. the data storage world Slootman is a celebrity CEO, thanks to his tenure as 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 . In the mid 80s I tried to hire on out of school with IBM, they were the gold standard back then in the so-called computer industry. I learned from that experience that I dont want to be in an elevator thats going down, he says. Had they Otherwise, Im going to go ahead and run the company., When Slootman expressed interest in the Snowflake CEO job, Sequoia and Sutter Hill jumped. And when you lose, nobody can help you., During his short-lived retirement, Slootman raced aboard his Pac52 Class 52-foot yacht, Invisible Hand. "It's a hard way to live because you always feel inadequate," he said on a December episode of the "What Got You There" podcast. Frank Slootman Net Worth 2020/2021, Salary, Age, Bio, Weight, Height How Much Snowflake CEO Frank Slootman Made in 2019 - Business Insider Michael Scarpelli serves as Chief Finance Officer at Snowflake. He settled on a fast-growing but under-the-radar software startup based in Santa Clara called ServiceNow. Why are they only tripling sales? 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. Previously, Mike was Vice President and Technical Advisor to Symantecs Chairman & CEO. It took on another $450 million, this time at a $4 billion valuation, about nine months later. When you win, nobody can hurt you. And Frank got tired of it. His second: parting ways with anyone who seemed fond of palace intrigue or who didnt deliver precisely on their word. I worked on the merger of Burroughs and Sperry which became Unisys. Biography of Frank Slootman : Presently, Frank Slootman is Chairman & Chief Executive Officer of Snowflake, Inc. Additionally, from 2005 to her retirement, she led Deloittes global relationship with Apple, which spans a momentous period including the release of the iPhone, iPad, and Apple Watch and saw Apple increase its market capitalization from less than $10B to more than $1T. Muglia received two days' notice before Slootman was introduced to employees in an all-hands meeting. doing well, like Snowflake. These are people we knew from previous rodeos, Slootman says with a shrug. "I never decided to go back or talked to anybody. Frank's the type that he just doesn't take any bullshit, and there was some shit going on and he said, 'OK, I'm done.' An IPO is a blip on the radar, a mile marker during the marathon, he says now. She would also help a board address key issues including digital transformation, human capital, governance, and M&A. Slootman was born in The Netherlands and moved to the USA in 1984 to work for Burroughs, then Compuware and software company Borland. Frank Slootman currently serves as Chairman and CEO at Snowflake. Chief Financial Officer. that outcome could be. For seven days in mid-September, packing in everything from a series of one-on-one meetings to large presentations, the naturally gruff Slootman met over Zoom with more than 1,000 people, including fund managers and investment bankers, who were on hand to win a piece of his IPO. At the A financial, digital, and M&A expert with a uniquely broad and deep perspective into the challenges facing many of the worlds most innovative companies, Teresa built Deloittes U.S. West Region into a $3.0B business. Slootman hasn't shied away from embracing his right-leaning tendencies in a liberal-dominant industry. I was rejected at least a dozen times by IBM. We're getting a no-nonsense guy who quotes Patton.'". and a few units in field test. Slootman's investor friend Chandna recalled when the CEO stopped by his home recently. In October, Slootman was approved for a 20-year lease at a tiny airport near the home to park a private aircraft. Blocks & Files: Do you believe it best or necessary for yourself that the chairman and CEO roles be combined? [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]. "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. Experts say Snowflake, which today has a market valuation of nearly $77 billion, has been bolstered by therise of remote work during the pandemic. The Snowflake board member Mike Speiser, who invested in the company through his firm Sutter Hill and served as its first CEO, reached out to Slootman regarding a Snowflake board position, Speiser told Forbes. The success was because of Slootman and his share on the company is 30% hence making his net worth as of 2020 is 1.8$ billion. He holds over 50 patents. Teresa has been a stabilizing force in the C-suite and boardroom of influential companies across the technology, retail, consumer products, and healthcare industries. During the next six years, Data Domain grew I dont like there to be too People want to be patted on the back and feel good I'm into not feeling good.". The reason for which he describes as, The energy, buoyancy, and temperament in this country greatly appeal to me. During his six-year tenure he help grow the business from $75m in annual revenues to $1.5bn. He previously served as Senior Vice President of Finance and Business Operations of the Backup Recovery Systems Division at EMC from July 2009 to August 2011, after EMC acquired Data Domain where he served as CFO for three years. The annual employee ski trip to the Ritz-Carlton in Lake Tahoe was canceled. What is the appeal of that? Derk Lupinek serves as General Counsel of Snowflake. In June, when Snowflake announced it was forming a diversity council, employees were surprised to see that the press release was written by Eve Besant, Snowflake's vice president of worldwide sales engineering. Slootman told CNBC in October that he had no time for Silicon Valley's "lattes and neck rubs" culture. Mark brings nearly 40 years of experience to Snowflake as an executive leader, an expert in accounting and financial management, and a visionary in growing and transforming technology companies. "He would always crash my executive briefings," Wyss said. Speaking publicly about his departure for the first time, Muglia tells Forbes that it took him months to get over the shock. "People would go surfing in the mornings, and they'd have these home-brew beer-making contests and all that," John Wyss, who was a director of product strategy at ServiceNow between 2014 and 2016, told Insider of the pre-Slootman days. John was responsible for $1.4B in annual revenue, when he served as Senior Vice President of Worldwide Sales and Services at BMC Software. In the past Mr. Slootman occupied the position of Chairman at ServiceNow, Inc., Principal at Compuware Corp., General Manager for Ecosystems SRL, Partner at Greylock Partners LLC, President & Chief Executive Officer at Data Domain, Inc., Senior Vice President-Products at Borland Software Corp., President-Backup Recovery Systems Division at EMC Corp., Principal at Burroughs Corp. and Venture Partner at Greylock Management Corp. I was rejected at least a dozen times by IBM. This page was last edited on 12 March 2021, at 18:12. The Slootmans also have a ranch in southwestern Montana. Snowflake CEO Frank Slootman: How To Boost Growth And Drive - Forbes 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. Slootman knows exactly what he's doing. [2], In May 2019, Frank Slootman joined Snowflake Inc. as its CEO. 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. You can look at my private companies and see how that turned out, he says. Cofounders Dageville and Cruanes are counting on Slootman and CFO Scarpelli to steer Snowflake through the stock markets gyrations. This story appears in the March 31, 2021 issue of Forbes Magazine. In came two of his top lieutenants from Data Domain and ServiceNow: Mike Scarpelli to oversee finances and Shelly Begun to run HR. With more than 30 years of networking experience, she is the recipient of numerous awards including E&Ys Entrepreneur of the Year in 2015, Barrons Worlds Best CEOs in 2018 and one of Fortunes Top 20 Business persons in 2019. After fighting so hard to become a CEO, Slootman doesnt know how to do anything else. I'd just throw the deck out because forget about it, Frank's here. The company currently has a market cap of $48 billion. president and CEO at Data Domain between June 2003 and July 2009. 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. Benoit has a PhD in Computer Science with a focus in Parallel Database Systems and is a named inventor on more than 100 patents. Furthermore, Frank was also the CEO of the Data Domain for 6 years from 2003 to 2006. Under his tenure, Snowflakes customer count grew from 80 in June 2015 to more than 1000 in January 2018. Prior to Cisco, she was Vice President and Chief Financial Officer of GE Healthcares Healthcare Systems business. Jayshree holds a B.S. Snowflake CEO Frank Slootman's discussion of diversity in hiring in this June 3 interview with Emily Chang on "Bloomberg Technology" prompted him to issue an apology on Monday after some . 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. Stay up to date with what you want to know. Snowflake CEO collects a $95 million payout every month warrants. Key Learnings from: Narrow the Focus, Increase the Quality. Prioritizing the development of raw talent with high upside, Slootman was able to stabilize Compuware. Before being named CFO in 2015, Kramer was Senior Vice President of Business Technology and Operations Finance, partnering with the Development organization across business groups, segments, and operations on strategic long-range planning, budgeting, and forecasting new-offer development, as well as the analysis and strategy of product pricing. We were in a shit fight all the time. 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. Earlier in his career, he spent nearly a decade at Oracle as Senior Vice President of Product and Services Marketing. Slootman brought this combative spirit to Snowflake, cutting spending and people he deemed unnecessary, insiders said. Frank further added the fact that he always felt like he was born in the wrong country. I am truly a hybrid Dutch-American. After leaving the company Slootman joined the board of Imperva, a cyber security business, and spent some time in venture capital, investing in startups. After an internship in the fake-leather industry in Indiana, Slootman made his first stride into the tech industry in Detroit, where he started working at Burroughs Corp., one of the largest computer makers at the time. "If you tell most people that, they'll be like, 'Wow, that sounds like an amazing company. In 2014, after two years under the radar focusing on shipping the software, Speiser tapped Muglia to replace him as CEO. 10 Facts About Frank Slootman. Prior to Snowflake, Greg spent 13 years at Google, where he was VP of Engineering responsible for a broad portfolio of Google Cloud data analytics and machine learning products and for internal services addressing data analytics needs of all of Googles businesses. "That was kind of awesome. Slootman's pay includes more than 13.7 million options with a strike price of $8.88. Sylvia serves as Chief Human Resources Officer at Snowflake. He wants answers, he wants change, he wants to grow the business. This story appears in the March 31, 2021 issue of Forbes Magazine. behave as if I am the chairman. re-enter the workforce. Five lessons in leadership from Snowflake CEO, Frank Slootman - ThoughtSpot Frank Slootman Bio: Early Life. Slootman returned to executive responsibilities in April 2011, taking the chairman and CEO roles at the cloud service company ServiceNow. It has been very obvious by now, that Frank prefers to maintain a tight lip when it comes to talking about his personal life details. Jeff Bezos The IPO was the. See Bio. As in sailing, the It was a very high At Microsoft, he served as General Manager of the Data Warehousing product unit where he was responsible for a broad portfolio of products. Frank Slootman - Chairman and Chief Executive Officer - LinkedIn My eyes are on the horizon., Covering venture capital, cloud and startups. His sailing group which included the Hong Kong business mogul Karl Kwok and the real-estate investor Manouch Moshayedi gradually dissolved amid squabbles over rules. We're not into that. from Seattle University School of Law. I would say, Were spending like drunken sailors, and they would say, Yes, keep doing it. And it was the right thing to do.. Slootman began to hone his skills: He put more energy into short-term sales, worked to improve the product and raised cash to keep the business afloat. The CEO has plenty of reason to stick around, too, with billions tied up in unvested Snowflake shares. Billboard ads with corny messages like Happy Holi-data soon lined Silicon Valleys main highway, U.S. Route 101. Frank Slootman Net Worth, Wiki, Bio, Family, Age, Wife Snowflake CEO Frank Slootman Discusses What's Next for the Data Cloud Mark holds a B.S. comes to mind first, I have learned lessons from Amazon just observing from Slootman: My role How Snowflake CEO Frank Slootman became a billionaire by ripping up the Benoit has a PhD in Computer Science with a focus in Parallel Database Systems and is a named inventor on more than 100 patents. In Profile of Billionaire Snowflake CEO Frank Slootman - Business Insider Snowflake CEO Offers Apologies, Support for Hiring Diversity He'd stay for 20 or 30 minutes, and the customers' jaws would drop and they'd be on the edge of their seat. The eight-year . degree from UC Hastings College of the Law. Narrow the Focus, Increase the Quality with Frank Slootman - LinkedIn Talk to him at length, though, and watch the patterns, and you can see thats not true. In 2019, during an all-hands meeting at Snowflake, Slootman told the story of how early in his career he was rejected for a job he was well qualified for because the company needed to fill a quota of hiring more minorities, a former senior Snowflake employee said.