So far, Snowflake is outrunning its competition. Greg has a PhD in Computer Science from Cornell University, an MBA from UC Berkeley, and an undergraduate degree from AGH Krakow, Poland. The annual employee ski trip to the Ritz-Carlton in Lake Tahoe was canceled. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace. Profile of Billionaire Snowflake CEO Frank Slootman - Business Insider 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. The energy, buoyancy, and temperament in this country greatly appeal to me. afar. Slootman holds undergraduate and graduate degrees in economics from the Netherlands School of Economics, Erasmus University Rotterdam. As ServiceNow's CEO, Slootman established a hard-driving culture embodied by pictures of race cars in the hallways of the office but he knew how to charm the customers, according to Wyss, the former director of product strategy. 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. How Much Snowflake CEO Frank Slootman Made in 2019 - Business Insider The seven-day competition, the Transpacific Yacht Race, was a test of both mental and physical stamina, in which he navigated his boat with a 10-person crew while cold, wet, and sleep-deprived. Slootman sold his seven-figure boat to a Chicago couple in 2019 to focus on what would end up being his biggest win of all: taking over as CEO of Snowflake, a seven-year-old cloud-based data-warehousing company, which had until then been led by ex-Microsoft exec Bob Muglia. Snowflake CEO: why you must declare war on your rivals - Yahoo Finance Muglia was no slouch: an engineer who was one of Microsofts four presidents before Steve Ballmer replaced him with Satya Nadella. He settled on a fast-growing but under-the-radar software startup based in Santa Clara called ServiceNow. by Laura Draper, Head of Content. However, the details of his conjugal life are known to few. I am truly a hybrid Dutch-American. 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 . ", "You know, he's this very formal, educated, Dutch, driven, business executive, right?" Everyone, that is, except Slootman. Adds Srini Nandury of Summit Insights Group, who has a rare sell rating on Snowflake: Theyve clearly shown they can execute, but I cant justify this valuation by any means. So after a while Im, like, Instead of bitching about it, Ill just stick to these train wrecks and show you what I can do with them.. He holds over 50 patents. Slootman may be one of the highest-paid tech CEOs in the US, but he defies nearly every stereotype in an industry where air-hockey tables fill conference rooms and companies are rushing to hire diversity-and-inclusion executives. 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. Denise Persson. ", Slootman said he left ServiceNow in 2017 because "they started caring about things that I had no interest in.". How much Net Worth does Camille Razat have in 2023. Slootman once again led with sales as a bridge to a better product. Benoit has a PhD in Computer Science with a focus in Parallel Database Systems and is a named inventor on more than 100 patents. 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. These are people we knew from previous rodeos, Slootman says with a shrug. Thierry Cruanes. The flip side: sticker shock, as companies bills rapidly grew, and unpredictability, as Snowflake struggled to deliver accurate revenue projections. When he became CEO of Snowflake, Frank Slootman cut costs, including the company ski trip to Tahoe. Im more interested in why you returned to the CEO frontline than the specific possibilities at Snowflake. Mr. Slootman is a billionaire businessman who was born on 3 rd October 1958 in Holland. SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- Instacart, the leading online grocery platform in North America, today announced that Frank Slootman, Chairman and Chief . has extraordinary upside. After leaving the company Slootman joined the board of Imperva, a cyber security business, and spent some time in venture capital, investing in startups. 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. I entered the US in 1984. Under his tenure, Snowflake's customer count grew from 80 in June 2015 to . "We did not come in peace," he wrote. And eventually, his journey led him to Data Domain. The post Frank Slootman Wife, Bio, Net Worth, Salary, Book, Married, Children, Stock, IPO, Wiki appeared first on Edailybuzz.com. Further, Frank also shed some lights on his early work experience at Burroughs. degree from UCLA and a J.D. From 2017-2019, he was Vice President, Legal at ServiceNow, where he was responsible for corporate, securities, and M&A. Most people have no clue what really goes on in board rooms. We're not into that. Frank Slootman is the biggest Snowflake of them all Doug, thank you for that comment, Slootman replied. 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. We were in a shit fight all the time. It was hard for me to work in a big company, too slow and rigid, just not inspired. She currently serves on the boards of ServiceNow (NYSE: NOW), Warby Parker and Snowflake. Slootman came on board in early May 2019 and started his sterling resume in the enterprise software world. 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. And it was the right thing to do," Muglia recently told Forbes. See Bio. 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. And eventually, his journey led him to Data Domain. 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. I always felt I was born in the wrong country. This story appears in the March 31, 2021 issue of Forbes Magazine. Which was then followed by his association with Compuware and software company Borland. It is highly unusual for a board to make leadership changes in a company that is behave as if I am the chairman. Prioritizing the development of raw talent with high upside, Slootman was able to stabilize Compuware. Sylvia serves as Chief Human Resources Officer at Snowflake. Because struggling sectors like the travel industry could simply reduce their usage without renegotiating contractsand others, such as those in e-commerce or food delivery, saw demand quintupleSnowflakes sales barely hiccuped. Co-Founder & President of Product. I do prefer the earlier stages of growth. 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. Linked companies : Snowflake Inc. "You know, win at all costs and don't mind who gets caught in the crosshairs. re-enter the workforce. Frank Slootman Wife, Bio, Net Worth, Salary, Book, Married, Children Frank Slootman is the biggest Snowflake of them all. So why did the Snowflake VCs call on Slootman? 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. Technology executive Frank Slootman took software company Snowflake public in one of the biggest tech IPOs of 2020, raising $3.4 billion at a $33.3 billion valuation. Creative Commons Attribution-ShareAlike. I would say, 'We're spending like drunken sailors,' and they would say, 'Yes, keep doing it.' Jeremy Burton is the Chief Executive Officer of Observe, Inc. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. Dominic Ruso, ServiceNow's former vice president of finance, replaced Balaguras. "If you tell most people that, they'll be like, 'Wow, that sounds like an amazing company. This stock is being completely driven by the Robinhood crowd., Perhaps Slootmans greatest triumph so far: selling both outside experts and those within the company on the possibilities of Snowflake 2.0, its shift from being a data warehouse to more of a data hub on which businesses can securely (and temporarily) share information with each other, develop apps and feed their data into artificial intelligence tools. Sylvia Pagan. Find out about Snowflakes latest business and technology achievements by catching up any of our press releases and industry news articles, Get first-hand insights about our latest product features, technology partnerships, and recommendations on how to get the highest value from your, Learn how thousands of organizations around the globe and across dozens of industries are using Snowflakes Data Cloud to advance their, 2023 Snowflake Inc. All Rights Reserved | If youd rather not receive future emails from Snowflake, unsubscribe here or customize your communication preferences, Snowflake for Advertising, Media, & Entertainment, unsubscribe here or customize your communication preferences. "When you have the potential [to build] one of the game-changing companies of all time, you should take the chance," Speiser told Forbes. It sounds like they've got a great product-market fit. 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. 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. A representative for Snowflake declined to comment for this article. ", There were no employee-resource groups at ServiceNow, she said, and endeavors like creating a diverse workplace were "not a priority. She served as a member of the Executive Committee of the Bay Area Council, and the boards of directors for the California Academy of Sciences and the University of Arizona Eller College of Management. And the reason is, CEOs are only there for one reason, and that is they need to win. Read it now on the O'Reilly learning platform with a 10-day free trial. I am truly a hybrid Dutch-American. 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. Slootman's investor friend Chandna recalled when the CEO stopped by his home recently. [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]. Better modeling and the focus shift to larger accounts also made it easier to guess how users might expand or contract. Blocks & Files is interested in finding out more about his "I used to call it 'drunken sailors' spending. 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. 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. The company is going to have a great outcome The eight-year . from the U.S. Military Academy at West Point and a J.D. But one former senior employee defended Slootman's approach to social issues. Denise also helped lead Genesys through its expansion to become a successful IPO and acquired company. Blocks & Files: Which other CEOs do you admire and why? Frank Slootman is the Chairman and CEO of Snowflake. In 2007, he took the data-storage company public, and two years later, he oversaw its $2.4 billion acquisition by EMC, which was later bought by Dell. Blocks & Files: What was it about Snowflake that attracted you? Investor Sequoia wanted an executive with more experience building a sales team to target the worlds biggest corporations. He also owned and sailing a boat called Invisible Hand and co-funded the Pac52yachting regatta. This page was last edited on 12 March 2021, at 18:12. Chris is married with 2 daughters and is an avid skier and golfer. The Dutchman joined Snowflake as CEO in April, after leaving ServiceNow in March 2017 following six years as CEO, where he helped scale the software-as-a-service (SaaS) firm towards becoming the . That lasted until April this year when he stepped into the chairman and CEO role at Snowflake. many layers between me and the action. I have empathy with a lot of quarterbacks who dont know to retire, he says. the board gives me the chairman title or not does not matter. Slootman told CNBC in October that he had no time for Silicon Valley's "lattes and neck rubs" culture. 10. He helped define the architecture and lead database performance efforts for Bulls parallel systems. Snowflake. 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. is situational. His second: parting ways with anyone who seemed fond of palace intrigue or who didnt deliver precisely on their word. As President and CEO of Arista for over a decade, Jayshree Ullal is responsible for Aristas business and thought leadership in cloud networking. Two years after Slootman came aboard as the CEO of ServiceNow, in 2011, he moved its headquarters to Santa Clara, in Silicon Valley. "I never decided to go back or talked to anybody. Speaking publicly about his departure for the first time, Muglia tells Forbes that it took him months to get over the shock. Snowflake CEO collects a $95 million payout every month Frank Slootman Net Worth, Wiki, Bio, Family, Age, Wife / . If Im doing a bad job, you should go ahead and fire me. degree in engineering management. Chris serves as Snowflakes Chief Revenue Officer and has been with the company since 2013. Teresa Briggs is a senior executive with deep experience in strategy, business transformation, and governance. The company currently has a market cap of $48 billion. Why do you, as it appears, prefer that? Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. Soon Slootman resumed his old tricks. The book . Blocks & Files: Are you still involved in regatta racing with your yacht Invisible Hand? We're getting a no-nonsense guy who quotes Patton.'". In his new book . A 20-year veteran of the IT industry, Jeremy joined EMC from Serena Software, where he was President and CEO. Teresas governance experience extends from her time in the boardrooms of many of her major clients to Deloittes U.S. board of directors, where she served on committees overseeing compensation, M&A, risk and regulatory matters (including cyber), and large internal investments. That's it.". While some in Silicon Valley warn of a backlash, Slootman's main concern is winning. fire the CEO. Muglia received two days' notice before Slootman was introduced to employees in an all-hands meeting. leave a leadership vacuum in the board room. This article "Frank Slootman" is from Wikipedia. Mar 11, 2021, 11:30 ET. Grzegorz (Greg) Czajkowski, a distributed systems and organizations scaling expert, is Senior Vice President of Engineering and Support at Snowflake. CNBC Snowflake books its revenue using a "consumption model," Slootman said, rather than a typical subscription . 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. I worked on the merger of Burroughs and Sperry which became Unisys. Prior to joining Snowflake, Mike served as CFO at ServiceNow from 2011-2019. I hired on with Burroughs instead. The list of its authors can be seen in its historical. Experts say Snowflake, which today has a market valuation of nearly $77 billion, has been bolstered by therise of remote work during the pandemic. 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. summer of 2003 until its acquisition by EMC during the summer of 2009. 2 min read. "That was kind of awesome. However, at the age of 26, Frank moved to the USA in 1984 to work for Burroughs. 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. 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. 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. At the That's not him at all. Mr. Slootman is a billionaire businessman who was born on 3rd October 1958 in Holland. What is the appeal of that? When you win, nobody can hurt you. I would say, Were spending like drunken sailors, and they would say, Yes, keep doing it. And it was the right thing to do.. The vast majority can already be exercised but the underlying shares vest monthly over four years, beginning . Under his sales leadership, Snowflake has grown its annual product revenue from $0 to over $1 billion. Age 64. Frank further added the fact that he always felt like he was born in the wrong country. In October, Slootman was approved for a 20-year lease at a tiny airport near the home to park a private aircraft. 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 2011, after the founder of ServiceNow Fred Luddy stepped down, ServiceNow announced appointment of Frank Slootman as CEO. #1905 Frank Slootman on the 2023 Billionaires - Frank Slootman is the CEO of Snowflake, a cloud-based database firm he joined in 2019 and took public in . Companies that stand for something make employees excited to work there, she said. I become the CEO I need to be, the one that the situation Frank Slootman, CEO of Snowflake, on the day of its 2020 IPO, Sept. 16th, 2020. He also co-founded Epinions.com, worked as a consultant at McKinsey & Company, and was an analyst with CS First Boston. The former Snowflake executive recalled Slootman once saying: "I'm not good at hobbies. Data Domain was a venture backed storage company founded in late 2001, grew at record pace to an IPO on NASDAQ in 2007 and was acquired by EMC . In 2019, before the company went public, Slootman made more than $60 million in total compensation. Deloitte is the worlds largest professional services firm and provides audit, tax, financial advisory, and consulting services to more than 20 industry sectors in over 150 countries. Experience obviously Prior to Oracle, Benoit worked at Bull Information Systems. 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. from Seattle University School of Law. "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.". A crewmember said Slootman stopped sailing competitively because "everybody was out to get him.". After that it was board membership; Pure Storage, Medallia and Elementum SCM,and more VC investing with his own Invisible Hand Ventures. Frank Slootman currently serves as Chairman and CEO at Snowflake. Forbes reports that Slootman turned into a very rich person with a net worth of $1.8 billion in September 2020 as Snowflake shares took off 115% in the IPO. The job of the board is to hire and Muglia said that when he was CEO the board of directors encouraged a culture of free spending. Chairman and Chief Executive Officer. "You know, you're not going far enough, you're not going hard enough, you're not going fast enough. Theyve clearly shown they Have I told you my point of view on boards? 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). Snowflake CEO Frank Slootman is the toast of the big data community, and following the $3.4 billion IPO, a favorite on Wall Street too. She was integral to establishing Deloittes enterprise alliance with Apple, focused on enabling people to work the way they live by digitally transforming companies. I need to spend the little bit of time I have left over with my family, not sailing. 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. Publisher (s): Wiley. Slootman: Whether 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. "Silicon Valley is very much a high-fiving, self-congratulatory culture," he said. "It had an aggressive tone to it," one former Snowflake executive said. concealing modifications he made to another owner's boat. 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. In April 2019, Snowflake's board of directors announced that its CEO of five years, Bob Muglia, was being replaced. 5.9% of any company is a huge deal. This prompted Apple CEO Tim Cook to describe Deloitte as the ideal partner. By the close of Snowflake's first day . 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. June 7, 2021. 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Presents at Goldman Sachs Communacopia + Technology Conference 2022, Sep-14-2022 03:45 PM. situational and operate on so-called first principles. Frank Slootman Bio: Early Life. After successfully building out its Java development and testing business, Slootman received his first CEO job offer in 2003, when investors in a data-storage startup tapped him for another rescue. can execute, but I cant justify I'd just throw the deck out because forget about it, Frank's here. Prior to that, Mark served in several roles at VeriSign, including as Executive Vice President, Products and Marketing. Frank Slootman Net Worth 2020/2021, Salary, Age, Bio, Weight, Height Around the same time, he began meeting with research analysts who would wind up setting bullish prices for the IPO. Kramer serves on the board of directors and the Audit Committee for each of Gilead Sciences and Coinbase. Are you now a professional CEO rather than a startup boss? temperament that needs an outlet I guess, but I never really decided to To his relief, Begun told him a few weeks later that the new CEO valued his hustle and loyalty to the product. Frank took us from a very large startup and made us into a very large, well-oiled machine, Luddy told Forbes in 2018. 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. Slootman retired in 2017, but the break was short-lived. The appearances do not bother me. Snowflake CEO Frank Slootman Shares Secrets of Unrivaled Success in 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. 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. In both her ServiceNow and Snowflake roles, Sylvia was instrumental in scaling HR functionality in hypergrowth environments into successful and sustainable post-IPO trajectories. 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.