has extraordinary upside. 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. One year later, he took the company public with share prices that valued the company at more than $2 billion. From 2017-2019, he was Vice President, Legal at ServiceNow, where he was responsible for corporate, securities, and M&A. During the next six years, Data Domain grew Prior to Adobe, Mark held senior leadership positions at Documentum and EMC. My eyes are on the horizon., Covering venture capital, cloud and startups. 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. Between 2011 and 2017, Slootman was Chairman and CEO of ServiceNow - one of the world's leading SaaS . I learned from that experience that I dont want to be in an elevator thats going down, he says. 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. Read it now on the O'Reilly learning platform with a 10-day free trial. Frank Slootman Bio: Early Life. A CEO must lead a board, period. 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. When you win, nobody can hurt you. She led the company to a historic and successful IPO in June 2014 from zero to a multibillion-dollar business. Under his sales leadership, Snowflake has grown its annual product revenue from $0 to over $1 billion. Muglia, for his part, told Insider that he couldn't comment on the personality of his replacement. I never worked in Holland, but was born, raised and educated there. 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. [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]. The board was the one telling me to spend money, the board was just as strongly behind this. This story appears in the March 31, 2021 issue of Forbes Magazine. Rather than the usual grilling, Slootman was toasted instead. 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. Previously, Sunny has held leadership roles at VMWARE, JDSU, Deloitte Consulting and Andersen Consulting. Thierry Cruanes. I campaigned our TP52 Invisible Hand for three years. Prior to joining Snowflake, Mike served as CFO at ServiceNow from 2011-2019. by Laura Draper, Head of Content. She is a recipient of the SFSU and SCU Distinguished Alumni Awards in 2013 and 2016. 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. A Gartner analyst on vacation spotted the executive and crashed the meeting to go full fanboy. "We did not come in peace," he wrote. Stay up to date with what you want to know. Snowflake CEO Frank Slootman, former CEO Bob Muglia, and cofounder Benoit Dageville are now billionaires after the data storage firm's blockbuster IPO, Forbes reported. ", Wyss said that every now and then Slootman would loosen up. Previous to Serena, he led Symantecs $2 billion Enterprise Security product line as Group President of Security and Data Management. As President and CEO of Arista for over a decade, Jayshree Ullal is responsible for Aristas business and thought leadership in cloud networking. "He's not somebody who has a need to be liked.". Inside Snowflake, Slootman reengaged cofounder Dageville, now a billionaire himself, to spearhead the project; outside, analysts trust Slootman to figure it out. Please help to demonstrate the notability of the topic by citing, Learn how and when to remove this template message, https://xconomy.com/san-diego/2011/04/26/service-now-names-software-industry-veteran-frank-slootman-as-ceo/, https://www.businessinsider.com/servicenow-frank-slootman-interview-2012-8, https://www.forbes.com/sites/tomtaulli/2019/06/05/snowflake-the-ai-force-multiplier/amp/, https://www.cnbc.com/2020/09/16/snowflake-snow-opening-trading-on-the-nyse.html, article "Frank Slootman" is from Wikipedia, https://wikitia.com/index.php?title=Frank_Slootman&oldid=81954, Articles with topics of unclear notability, All articles with topics of unclear notability. Chris is married with 2 daughters and is an avid skier and golfer. Founded by billionaire Fred Luddy, ServiceNow was cash-flow-positive and doubling revenue, but understaffedanemic, as Slootman now says. She was integral to establishing Deloittes enterprise alliance with Apple, focused on enabling people to work the way they live by digitally transforming companies. In early 2018, just over a year before his dismissal, Muglia met Forbes for breakfast at a New York hotel. "I crawled on the shore in this country, literally with 100 bucks in my pockets, and I'm not exaggerating when I say that," Slootman told Forbes. 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. Mark also serves on the boards of Cisco, GoDaddy and Pure Storage. This is good news for Snowflake.. 10. Slootman holds undergraduate and graduate degrees in economics from the Netherlands School of Economics, Erasmus University Rotterdam. Published Apr 13, 2021. 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. day and we will from here on out. Blocks & Files is interested in finding out more about his The company is going to have a great outcome Overnight, Slootman's 5.9% stake became worth billions, and Snowflake was established as an elite Silicon Valley player it was briefly valued more highly than IBM at one point not long after its IPO, though its stock price has declined more than 13% since the beginning of 2021. Why are they only tripling sales? Public asset : 162,785,053 USD. "For many, this is very attractive," Slootman said of San Diego's laid-backness. I am truly a hybrid Dutch-American. Slootman hasn't shied away from embracing his right-leaning tendencies in a liberal-dominant industry. Age : 63. I could not resist having an opportunity to bring something 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 . Seventeen months later, he took Snowflake public in one of the biggest tech IPOs of 2020, raising $3.4 billion at a $33.3 billion valuation. As reported by Forbes, the company has been raising billion on the ongoing pandemic and its shares are crossing more than $30 billion. After telling Bloomberg TV that he can't allow a push for diversity in tech to "override merit," Snowflake CEO Frank Slootman released a statement Monday apologizing for a "lack of clarity" in those comments. Slootman: My role "Comments I made during a media interview last week may have led some to infer that I believe that diversity and merit are . ", "You know, he's this very formal, educated, Dutch, driven, business executive, right?" I have empathy with a lot of quarterbacks who dont know to retire, he says. But one former senior employee defended Slootman's approach to social issues. What's between them going even faster?'". I will still In came two of his top lieutenants from Data Domain and ServiceNow: Mike Scarpelli to oversee finances and Shelly Begun to run HR. Should Snowflake stumble on its numbers, or if exuberance fades, employees who made their money in the IPO might not want to stick around. 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. Frank led Data Domain from the early phases to an IPO and then to a sale for $2.4 billion to EMC. Sailing is a small world. Mr. Slootman is a billionaire businessman who was born on 3rd October 1958 in Holland. The Snowflake executive team represents centuries of technology, product and business experience to create and advance the only cloud data platform built to enable the data-driven enterprise. Collin Biondo also works in the tech world as an engineer at the email-security startup Abnormal Security. "He was the king of the hill. In the past Mr. Slootman occupied the position . Co-Founder & President of Product. 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. The vast majority can already be exercised but the underlying shares vest monthly over four years, beginning . Mar 11, 2021, 11:30 ET. ", Slootman said he left ServiceNow in 2017 because "they started caring about things that I had no interest in.". To make the company more Wall Street ready, Snowflake started working with its bigger customers to show them where they were wasting money running needless reports. to market this promising. President Barack Obama appointed him to serve on the Presidents National Security Telecommunications Advisory Committee in January 2011, and he served on this Committee until April, 2023. were months away from running out of money. 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. But Slootman was more interested in running the show, and Snowflake seized the opportunity. Soon Slootman resumed his old tricks. I was never a mainframe guy. His second: parting ways with anyone who seemed fond of palace intrigue or who didnt deliver precisely on their word. Mike Scarpelli. But sailing couldn't keep him occupied for long. So that was it. 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. Starting as employee #13 and Sales employee #1, Chris built a Go To Market strategy from the ground up, driving sustained high growth and global reach. That someone was Frank Slootman. What brought to the USA? 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. It was hard for me to work in a big company, too slow and rigid, just not inspired. Thierry is a leading expert in query optimization and parallel execution. Slootman did not respond to requests from Insider for comment. 5.9% of any company is a huge deal. re-enter the workforce. by Frank Slootman. fire the CEO. Country of residence : Unknown. To win over large customers like Johnson & Johnson, he repositioned ServiceNow from a help-desk IT solutionnot exactly something to excite a fellow CEO in a meetingto an all-you-can-eat buffet of tools that could help a needy CIO solve any challenge. "That was kind of awesome. Slootman's long-time right-hand man, Michael Scarpelli, who had worked with Slootman at both ServiceNow and Data Domain, took over the chief financial officer job from Tuchscherer. In his book About a year after he came aboard, Slootman took ServiceNow public on the New York Stock Exchange. 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. Sign up for notifications from Insider! Genevieve Haldeman, the vice president of corporate communications at ServiceNow between 2014 and 2016, said she felt that Slootman's leadership style could make for an abrasive workplace. Released January 2022. Blocks & Files: You were born and raised in The Netherlands. Snowflake is a special company, they just dont Age 64. Publisher (s): Wiley. From 2011 until 2018, Mark served as Chief Executive Officer and Chairman of the Board of Palo Alto Networks, a global cybersecurity company, and as Vice Chairman of the Board until December 2022. Denise Persson. Senada Greca Wiki: Age, Birthday, Husband, Net Worth, Height, Ethnicity, Boyfriend, Biography, Fatima Goss Graves Bio Wikipedia: Husband, Age, Net Worth, Instagram, Children, Birthday. What did the Snowflake board want from you that they could not get from other potential CEOs and that was lacking in the company at that point? Snowflake was founded in August 2012 by Dageville and Cruanes, two French-born database experts from Oracle, and was backed by Sutter Hill, whose venture capitalist Mike Speiser served as its first CEO. 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. Was it purely the job with Burroughs or was there something else? Prior to joining Snowflake, she served as CMO for Apigee, an API platform company that went public in 2015 and Google acquired in 2016. He'd stay for 20 or 30 minutes, and the customers' jaws would drop and they'd be on the edge of their seat. Mr. Slootman is a billionaire businessman who was born on 3 rd October 1958 in Holland. Its like being on the Americas Cup boats: Every day is about sailing faster, says Denise Persson, Snowflakes CMO. "You know, you're not going far enough, you're not going hard enough, you're not going fast enough. Before Oracle, he spent seven years at the IBM European Center of Applied Mathematics working on data mining technologies. 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. That led to Data Domain. Investor Sequoia wanted an executive with more experience building a sales team to target the worlds biggest corporations. I never talked to other companies. I helped the company move its software to non-mainframe platforms that started to emerge on UNIX in the late 80s. 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. Slootman knows exactly what he's doing. One major cause for the shock: By all appearances, Snowflake wasnt strugglingand it already had a high-profile CEO. Muglia said that when he was CEO the board of directors encouraged a culture of free spending. He holds over 50 patents. Thierry has a PhD in Computer Science with a focus in Database Systems and holds over 70 patents. Frank Slootman is the biggest Snowflake of them all. We sailed straight in. COVID-19 fundamentally changed the way businesses operate. 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. Teresa holds a Bachelor of Science degree in Accounting from the University of Arizona Eller College of Management and was named Alumnus of the Year in 2015. Slootman's pay includes more than 13.7 million options with a strike price of $8.88. Blocks & Files: Do you believe it best or necessary for yourself that the chairman and CEO roles be combined?
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