leave a leadership vacuum in the board room. And it was the right thing to do," Muglia recently told Forbes. The couple has been married for many years now, but the timeline of their wedding and relationship isnt made public. 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. From 2017-2019, he was Vice President, Legal at ServiceNow, where he was responsible for corporate, securities, and M&A. Have I told you my point of view on boards? 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. He helped define the architecture and lead database performance efforts for Bulls parallel systems. 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. But certainly I did it, says Muglia, noting that overall spending at Snowflake increased after he left. 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. Blocks & Files: You were effectively a startup CEO at Data Domain. It took on another $450 million, this time at a $4 billion valuation, about nine months later. through the acquisition of Bix, where he served 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 . 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. day and we will from here on out. 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. Frank explained. 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. She led the company to a historic and successful IPO in June 2014 from zero to a multibillion-dollar business. I was never a mainframe guy. I become the CEO I need to be, the one that the situation The vast majority can already be exercised but the underlying shares vest monthly over four years, beginning . can execute, but I cant justify 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. A CEO must lead a board, period. He holds a B.A. "He would always crash my executive briefings," Wyss said. By 1998 Slootman was running Compuwares California office amid the dot-com boom. Benoit Dageville. Frank Slootman is the biggest Snowflake of them all. As Slootman put it: "I'm not the leader of the free world. Under the companys Amazon-style pricing, customers could easily expand their usage over time. He holds a BA from the University of Delaware. A 20-year veteran of the IT industry, Jeremy joined EMC from Serena Software, where he was President and CEO. But two sailing associates of Slootman said there was still speculation over whether the tech honcho knowingly greenlighted unapproved upgrades of his own to boost performance. We're getting a no-nonsense guy who quotes Patton.'". He is also on the board of Maplebear, Inc. and Elementum Ltd. (United States). Blocks & Files: What was it about Snowflake that attracted you? I also had had enough time off, two years. Frank has always refrained from talking about them even in his interviews. ", There were no employee-resource groups at ServiceNow, she said, and endeavors like creating a diverse workplace were "not a priority. Frank Slootmans path to the American Dream, via IPO billions, started with his making Naugahyde seats for the automotive and boating industries. After his retirement from ServiceNow, Slootman poured millions into his sailing hobby, people familiar with his sailing operation said. She is a frequent speaker on topics including corporate board diversity, sponsorship and inclusion, and was a Stanford Entrepreneurial Thought Leaders speaker. "I've literally never met the man," he said. 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. "He wants to kill the competition," he said. I need to spend the little bit of time I have left over with my family, not sailing. Frank Slootman currently serves as Chairman and CEO at Snowflake. In his book and six thousand enterprise customers worldwide. Shelly Begun, who was also at ServiceNow and Data Domain, came on board as the head of human resources. Key Learnings from: Narrow the Focus, Increase the Quality. Slootman, who took over Snowflake in April 2019, had been as ruthlessly efficient with the rest of the process. 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. "Bob was kind of like your dad, just very jovial and happy, would walk around and talk to employees," the former executive added. Data Domain was running out of money; its technology, while theoretically more powerful than the existing alternatives, ran prohibitively slowly. I exercise executive prerogative, he adds. If Im doing a bad job, you should go ahead and fire me. Talking about his education, Frank first attended in Netherlands School of Economics and graduated in 1977. 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. 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. But the question becamehowgreat He spent 13 years at Oracle focused on the optimization and parallelization layers in Oracle databases including as lead for the optimization group. In Amp It Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity, he shares his . 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 . re-enter the workforce. [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]. 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. Publisher (s): Wiley. It was hard for me to work in a big company, too slow and rigid, just not inspired. In came two of his top lieutenants from Data Domain and ServiceNow: Mike Scarpelli to oversee finances and Shelly Begun to run HR. After the Data Domain acquisition, Slootman spent two years inside EMC as president of the Backup and Recovery Systems Division. Teresa previously served as a Vice Chair & West Region and San Francisco Managing Partner of Deloitte, and as Managing Partner, Silicon Valley. Better modeling and the focus shift to larger accounts also made it easier to guess how users might expand or contract. Are you now a professional CEO rather than a startup boss? In other words, he was bored. I dont getthat excited, he explains. 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. Under his sales leadership, Snowflake has grown its annual product revenue from $0 to over $1 billion. Slootman once again led with sales as a bridge to a better product. 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. Save my name, email, and website in this browser for the next time I comment. There is no information on his parents, siblings, or any other family members. Experts say Snowflake, which today has a market valuation of nearly $77 billion, has been bolstered by therise of remote work during the pandemic. Just six months in, he had lined up his anchor investors, including Dragoneer Investment Group and Marc Benioffs Salesforce. In 2016, Slootman donated $250 to Ryan Zinke, the Interior secretary of President Donald Trump who stepped down in 2018 while he was the subject of several ethics investigations. He sees himself as someone who bootstrapped his way up, people said. Slootman, 62, took over a nondescript conference room on the second floor of Snowflakes Dublin, California, office, embarking on a series of meetings that now rank with Mark Zuckerbergs Harvard dorm coding sessions in terms of value per hour. 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. I worked on the merger of Burroughs and Sperry which became Unisys. "You're in a battle, and the battle doesn't end until you finish that race," Gabriel said. After fighting so hard to become a CEO, Slootman doesnt know how to do anything else. In 2011, Slootman joined ServiceNow as its CEO. 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. Why are they only tripling sales? Kramer joined Cisco in 2012 as Senior Vice President of Corporate Finance. Displaying foresight and expertise, she has designed effective strategies to overcome todays biggest challenges, particularly around digital transformation, enterprise risk, cybersecurity, and other vitally important strategic and operational issues. "You know, you're not going far enough, you're not going hard enough, you're not going fast enough. Data Domain and ServiceNow hired you on merit, not because you checked a box.". The job of the board is to hire and fire the CEO. Denise has 20 years of technology marketing experience at high-growth companies. enters into it, but I try not be a pattern matcher or be confined to my own If Im doing a bad job, you should go ahead and fire me. The beloved chocolate snacks disappeared, and daily catered lunches were replaced by an in-house cafeteria that was still free but seen by some as a downgrade. Benoit has a PhD in Computer Science with a focus in Parallel Database Systems and is a named inventor on more than 100 patents. Blocks & Files: You were born and raised in The Netherlands. 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. The company is going to have a great outcome "You know, win at all costs and don't mind who gets caught in the crosshairs. As reported by Forbes, the company has been raising billion on the ongoing pandemic and its shares are crossing more than $30 billion. At Microsoft, he served as General Manager of the Data Warehousing product unit where he was responsible for a broad portfolio of products. The assignment itself was another challenge: Compuware was bleeding employees to Silicon Valleys emerging powers. Slootman's investor friend Chandna recalled when the CEO stopped by his home recently. Start your free trial. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace. 1 job was to make the shareholders money. briefly valued more highly than IBM at one point not long after its IPO, Slootman said of San Diego's laid-backness, valued the company at more than $2 billion. In a December talk with Foundation Capital, Slootman said he had had "zero plans" to take on another CEO job. 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. I always felt I was born in the wrong country. He helped define the architecture and lead database performance efforts for Bulls parallel systems. Thecelebscloset, Jim Jefferies' House And Car Details!Thecelebscloset, Colton Dunns Impressive Net Worth: Insights and Figures Revealed!, How Much is the Grammy-Award Winning Artist Worth?. 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. Thierry co-founded Snowflake and currently serves as Chief Technical Officer. ", "You know, he's this very formal, educated, Dutch, driven, business executive, right?" fire the CEO. Jeremy Burton is the Chief Executive Officer of Observe, Inc. 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. "That was kind of awesome. 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 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. She was integral to establishing Deloittes enterprise alliance with Apple, focused on enabling people to work the way they live by digitally transforming companies. The company promised to do for data warehouses, which then lived on customers own servers, what Amazon Web Services had done for data storage. behave as if I am the chairman. He had built a monster and Data Domain still dominates the purpose-built backup appliance market, 11 years on. 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. In December, Bloomberg reported that Slootman's stock options were valued at $108 million monthly, thanks to its then market cap of $120 billion. Most recently, Christian worked at Google leading YouTubes infrastructure and data systems. Slootman has no qualms breaking with convention. He joined Yahoo! Mr. Slootman served as CEO and President of ServiceNow from 2011 to 2017. Kate Bullinger, who advises CEOs and companies on corporate culture at Weber Shandwick's United Minds consultancy, told Insider that a CEO dismissing or ignoring social issues could harm the company's ability to attract and retain talent. She has over 25 years of experience leading key aspects of global IT and HR organizations in high tech and healthcare. Its about getting this entire organization to go in one direction.. The investigation was dropped in February because of a technicality, and Brady was given a warning. His dream employer: IBM. Published Jul 7, 2022. Frank Slootman Net Worth, Wiki, Bio, Family, Age, Wife / . Frank Slootman, CEO of Snowflake, on the day of its 2020 IPO, Sept. 16th, 2020. Inside Snowflake, Slootman reengaged cofounder Dageville, now a billionaire himself, to spearhead the project; outside, analysts trust Slootman to figure it out. He holds over 50 patents. My eyes are on the horizon., Covering venture capital, cloud and startups. afar. "I used to call it 'drunken sailors' spending. 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. "Frank would never do that. The former Snowflake executive recalled Slootman once saying: "I'm not good at hobbies. "If you tell most people that, they'll be like, 'Wow, that sounds like an amazing company. Blocks & Files: Do you believe it best or necessary for yourself that the chairman and CEO roles be combined? In his new book . comes to mind first, I have learned lessons from Amazon just observing from Chief Financial Officer. Following the sale, he became Senior Vice President and CFO of EMCs Software Group. "Comments I made during a media interview last week may have led some to infer that I believe that diversity and merit are . But this whole Snowflake exercise could have turned out dramatically different, the CEO says, if the founders had pursued their original premise for what the company should be. In October, Slootman was approved for a 20-year lease at a tiny airport near the home to park a private aircraft. It currently boasts a market capitalization of $81 billion on trailing sales of roughly $580 million. The Slootmans also have a ranch in southwestern Montana. "For many, this is very attractive," Slootman said of San Diego's laid-backness. I would say, 'We're spending like drunken sailors,' and they would say, 'Yes, keep doing it.' situational and operate on so-called first principles. 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. I am truly a hybrid Dutch-American. Frank Slootman Bio: Early Life. He replaced a number of Snowflake's top executives including Chief Financial Officer Thomas Tuchscherer, Vice President of People Kathy O'Driscoll, and Vice President of Finance Jeff Balaguras with his own trusted lieutenants. Michael Scarpelli serves as Chief Finance 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. Just as his hero Patton was described as paranoid yet brilliant, Slootman said he lives in constant fear of inferiority. Sylvia serves as Chief Human Resources Officer at Snowflake. Mr. Slootman is a billionaire businessman who was born on 3 rd October 1958 in Holland. Is there competition there? past. These LOBS could switch on a service instead of needing their own software tools to manage processes. 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. "In the Bay Area, by contrast, it is raw ambition, singular drive, and unbridled capitalism in action.".

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