At Snowflake, Muglia moved fast to get the company into the market, pricing it to match Amazon Web Services by-the-second consumption model, which offered a pay-as-you-go alternative to a subscription, then targeting customers of Amazons own rival product, Redshift. When he became CEO of Snowflake, Frank Slootman cut costs, including the company ski trip to Tahoe. And we're all just like, 'Did Frank just call the customer our homies?' In December, Bloomberg reported that Slootman's stock options were valued at $108 million monthly, thanks to its then market cap of $120 billion. Why do you, as it appears, prefer that? The reason for which he describes as, The energy, buoyancy, and temperament in this country greatly appeal to me. Thierry co-founded Snowflake and currently serves as Chief Technical Officer. Visit the Business section of Insider for more stories. After his retirement from ServiceNow, Slootman poured millions into his sailing hobby, people familiar with his sailing operation said. In April 2019, Snowflake's board of directors announced that its CEO of five years, Bob Muglia, was being replaced. He spent 13 years at Oracle focused on the optimization and parallelization layers in Oracle databases including as lead for the optimization group. Linked companies : Snowflake Inc. Thierry has a PhD in Computer Science with a focus in Database Systems and holds over 70 patents. Because we think Frank was trying to say some Compton slang or something.". Mr. Slootman is a billionaire businessman who was born on 3 rd October 1958 in Holland. See Bio. Age : 63. Under his tenure, Snowflake's customer count grew from 80 in June 2015 to . Soon Slootman resumed his old tricks. Approximately 80% of the Fortune 500 turn to Deloitte for strategies that create shareholder value. 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. Franks wife, Brenda, who is also 61 years old, is the Vice President and Secretary of the Slootman Family Foundation. Frank Slootman, CEO of Snowflake, on the day of its 2020 IPO, Sept. 16th, 2020. 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. I would say, 'We're spending like drunken sailors,' and they would say, 'Yes, keep doing it.' 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. Forthright Slootman was brought into the world on October 3, 1958, and is 61 years of age as of September 2020. It sounds like they've got a great product-market fit. The company promised to do for data warehouses, which then lived on customers own servers, what Amazon Web Services had done for data storage. 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. Chief Human Resources Officer. 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 . A crewmember said Slootman stopped sailing competitively because "everybody was out to get him.". Teresa Briggs is a senior executive with deep experience in strategy, business transformation, and governance. Rather than return to Michigan, he jumped to Borland Software, a database darling of the 1980s by then in dire straits. Investor Sequoia wanted an executive with more experience building a sales team to target the worlds biggest corporations. Amp it up and the results will follow. Slootman was winning so often that rumors started swirling that he had to be cheating. Released January 2022. We'd all just roar with laughter. He retired from Adobe in April 2018. That's it.". CNBC Snowflake books its revenue using a "consumption model," Slootman said, rather than a typical subscription . Slootman brought this combative spirit to Snowflake, cutting spending and people he deemed unnecessary, insiders said. Mark joined Adobe in 2007 as Executive Vice President and CFO, leading Adobes worldwide finance, operations and corporate development activities, including investor relations, procurement, global supply chain and order management, and corporate strategy and strategic partnerships. A Pac52 sailboat like Slootman's Invisible Hand costs between $1.8 million and $2.5 million. In other words, he was bored. And the reason is, CEOs are only there for one reason, and that is they need to win. Prior to ServiceNow, Derk was an attorney at Wilson Sonsini Goodrich & Rosati, where he gained broad experience across the firms primary corporate practice areas, including start-up representation, venture financings, capital markets transactions, public company reporting, and mergers and acquisitions. About a year after he came aboard, Slootman took ServiceNow public on the New York Stock Exchange. Scarpelli got to work on Snowflakes books. He settled on a fast-growing but under-the-radar software startup based in Santa Clara called ServiceNow. to sell more than all its competitors combined. "Frank said, 'So the IT service managers, those are our homies, right?' After that, Frank attended Erasmus University Rotterdam where he studied for more than 7 years from 1978 to 1985. He's donated $14,550 to Republicans in the past five years, according to the Center for Responsive Politics. 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. He also co-founded Epinions.com, worked as a consultant at McKinsey & Company, and was an analyst with CS First Boston. 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.' If Im doing a bad job, you should go ahead and fire me. The Slootmans also have a ranch in southwestern Montana. After the Data Domain acquisition, Slootman spent two years inside EMC as president of the Backup and Recovery Systems Division. "When you have the potential [to build] one of the game-changing companies of all time, you should take the chance," Speiser told Forbes. 2 min read. A 20-year veteran of the IT industry, Jeremy joined EMC from Serena Software, where he was President and CEO. 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. "He wants to kill the competition," he said. These are people we knew from previous rodeos, Slootman says with a shrug. Frank led Data Domain from the early phases to an IPO and then to a sale for $2.4 billion to EMC. The post Frank Slootman Wife, Bio, Net Worth, Salary, Book, Married, Children, Stock, IPO, Wiki appeared first on Edailybuzz.com. to market this promising. Slootman hit the austerity button all the same, refocusing resources toward the drive trainproduct, engineering, sales and legaland away from less urgent areas like marketing. Christian earned his bachelors degree in Industrial Engineering from Los Andes University, and he is a named inventor on numerous Snowflake patents. Billboard ads with corny messages like Happy Holi-data soon lined Silicon Valleys main highway, U.S. Route 101. Snowflake's vision is a world with unlimited . TAPE SUCKS: Inside Data Domain, A Silicon Valley Growth Story he wrote: I was CEO of Data Domain, Inc. from the And when you lose, nobody can help you., During his short-lived retirement, Slootman raced aboard his Pac52 Class 52-foot yacht, Invisible Hand. In the weeks after the Slootman era kicked off at Snowflake, executives filed into Slootmans unadorned office one by one to meet the boss, while Speiser, the one who had reached out to Slootman, filled in for him in meetings. In both her ServiceNow and Snowflake roles, Sylvia was instrumental in scaling HR functionality in hypergrowth environments into successful and sustainable post-IPO trajectories. Frank Slootman currently serves as Chairman and CEO at Snowflake. Kramer has extensive experience in financial planning and analysis, profit-and-loss leadership, and mergers and acquisitions. At ServiceNow and also at Snowflake you replaced previous CEOs who had already built the companies to substantial sizes. Shelly Begun, who was also at ServiceNow and Data Domain, came on board as the head of human resources. By Labor Day, it had become clear that Frank Slootmans third initial public offering would not be like the other two. 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. After fighting so hard to become a CEO, Slootman doesnt know how to do anything else. 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. 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. 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. He did this in part by diversifying the product set so ServiceNow could sell to lines of business (LOBs) outside the IT department. Inside Snowflake, Slootman reengaged cofounder Dageville, now a billionaire himself, to spearhead the project; outside, analysts trust Slootman to figure it out. Snowflake, valued at $4 billion when Slootman took over, more than doubled that first day and is up significantly since. The IPO was the third for Slootman, who moved to California for a job at Compuware in the dot-com boom, then worked at Borland Software. Jeff Bezos 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 retired in 2017, but the break was short-lived. In a 2014 interview, he said he relocated the company north to tap into a larger talent pool but also because San Diego's culture was too relaxed. Slootman told CNBC in October that he had no time for Silicon Valley's "lattes and neck rubs" culture. 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. from Seattle University School of Law. The board was the one telling me to spend money, the board was just as strongly behind this. Frank Slootmans path to the American Dream, via IPO billions, started with his making Naugahyde seats for the automotive and boating industries. 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. Frank has always refrained from talking about them even in his interviews. 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. Kramer serves on the board of directors and the Audit Committee for each of Gilead Sciences and Coinbase. Is there competition there? Teresa previously served as a Vice Chair & West Region and San Francisco Managing Partner of Deloitte, and as Managing Partner, Silicon Valley. The CEO has plenty of reason to stick around, too, with billions tied up in unvested Snowflake shares. Business is what I'm good at.". The annual employee ski trip to the Ritz-Carlton in Lake Tahoe was canceled. Just as his hero Patton was described as paranoid yet brilliant, Slootman said he lives in constant fear of inferiority. Concerned about Snowflakes appetite for capital, Speiser approached Slootman, whom he knew through the board of another investment, Pure Storage, to see if he could tempt him to join the companys board. Talk to him at length, though, and watch the patterns, and you can see thats not true. Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company.. Career. 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.. in Engineering (Electrical) and an M.S. Prior to joining Snowflake, Sylvia was Vice President of Global Operations and Business Applications at ServiceNow. 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. The simplest explanation is that investors wanted someone To his relief, Begun told him a few weeks later that the new CEO valued his hustle and loyalty to the product. 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. NOW WATCH: Warren Buffett is one of the most frugal billionaires. Slootman: Sailing is in ones blood. president and CEO at Data Domain between June 2003 and July 2009. After a slight summer lull, Covid-19 was resurgent, which meant that rather than a global tour of get-to-know-you lunches and PowerPoints in hotel meeting rooms, his roadshow for data warehousing company Snowflake was going virtual. Prior to Snowflake, Chris served in Sales leadership roles at EMC and Aveksa, and worked in enterprise sales at Informatica and Covalent Technologies (acquired by VMware). His first action: reorganizing the sales arm of the business to separate large customers from small, focusing more intently on converting the bigger fish. Derk Lupinek serves as General Counsel of Snowflake. Founded by billionaire Fred Luddy, ServiceNow was cash-flow-positive and doubling revenue, but understaffedanemic, as Slootman now says. At the I helped the company move its software to non-mainframe platforms that started to emerge on UNIX in the late 80s. We were in a shit fight all the time. re-enter the workforce. He'd stay for 20 or 30 minutes, and the customers' jaws would drop and they'd be on the edge of their seat. He barely slept, said Ruben Gabriel, one of the crew. ", The post raised collective eyebrows at Snowflake, former employees said. 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. Scarpelli holds a bachelors degree in economics from the University of Western Ontario. "It was not the kind of environment that I enjoyed participating in," Haldeman said. CEOs that have a relentless, unapologetic focus on the business. The flip side: sticker shock, as companies bills rapidly grew, and unpredictability, as Snowflake struggled to deliver accurate revenue projections. But certainly I did it, says Muglia, noting that overall spending at Snowflake increased after he left. He was more insulated. that outcome could be. A Gartner analyst on vacation spotted the executive and crashed the meeting to go full fanboy. Chief Marketing Officer. 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. Slootman holds undergraduate and graduate degrees in economics from the Netherlands School of Economics, Erasmus University Rotterdam. The thing I liked about sailing was that if you make a mistake, its obvious within minutes.. "You're in a battle, and the battle doesn't end until you finish that race," Gabriel said. Muglia, for his part, told Insider that he couldn't comment on the personality of his replacement. And it was the right thing to do," Muglia recently told Forbes. Prior to joining Snowflake, she served as CMO for Apigee, an API platform company that went public in 2015 and Google acquired in 2016. 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. John was responsible for $1.4B in annual revenue, when he served as Senior Vice President of Worldwide Sales and Services at BMC Software. Between 2011 and 2017, Slootman was Chairman and CEO of ServiceNow - one of the world's leading SaaS . He holds a BS and MBA from University of San Francisco, and Executive Education in Leadership and Technology from Stanford University. Country of residence : Unknown. In 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. It was a very high Michael Scarpelli serves as Chief Finance Officer at Snowflake. Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. 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. I worked on the merger of Burroughs and Sperry which became Unisys. 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Presents at Goldman Sachs Communacopia + Technology Conference 2022, Sep-14-2022 03:45 PM. degree from UC Hastings College of the Law. Just a month later, Snowflake under Slootman had shifted to become a performance-based business. 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. I just kind of fell into it," he said. 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. That someone was Frank Slootman. Did you still want to challenge yourself at the helm of a company that could do great things? They obviously felt they would materialize more of Otherwise, Im going to go ahead and run the company.. Chief Financial Officer. He owns 5.9% of Snowflake. In a December talk with Foundation Capital, Slootman said he had had "zero plans" to take on another CEO job. The eight-year . Then came stints as a products executive at the software companies Compuware Corp. and Borland Software, after which Slootman landed his first Silicon Valley CEO gig in 2003 at Data Domain. He joined Yahoo! 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. Frank Slootman Bio: Early Life. 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. and six thousand enterprise customers worldwide. Frank took us from a very large startup and made us into a very large, well-oiled machine, Luddy told Forbes in 2018. Slootman's investor friend Chandna recalled when the CEO stopped by his home recently. "Everybody was out to get him," Gabriel said. In 2019, before the company went public, Slootman made more than $60 million in total compensation. 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. "You know, win at all costs and don't mind who gets caught in the crosshairs. 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. to shift gears to pure scale execution, and we are dealing with that now every 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. ", Slootman said he left ServiceNow in 2017 because "they started caring about things that I had no interest in.". Prior to BMC, John served as Chief Operating Officer and Senior Vice President of Worldwide Sales and Services with BladeLogic. Frank Slootman Net Worth, Wiki, Bio, Family, Age, Wife / . has extraordinary upside. Beyond. Stay up to date with what you want to know. Its like being on the Americas Cup boats: Every day is about sailing faster, says Denise Persson, Snowflakes CMO. 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. 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. "He would always crash my executive briefings," Wyss said. 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?. 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. 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. Senada Greca Wiki: Age, Birthday, Husband, Net Worth, Height, Ethnicity, Boyfriend, Biography, Fatima Goss Graves Bio Wikipedia: Husband, Age, Net Worth, Instagram, Children, Birthday. Amp It Up. enters into it, but I try not be a pattern matcher or be confined to my own Theyve clearly shown they 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. doing well, like Snowflake. We won many races, including the Transpac overall in 2017, but I sold and donated all my boats so I can concentrate on the Snowflake journey. Prior to Observe, Jeremy was Executive Vice President, Marketing & Corporate Development of Dell Technologies, and served in various leadership roles at EMC prior to Dell. 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. In came two of his top lieutenants from Data Domain and ServiceNow: Mike Scarpelli to oversee finances and Shelly Begun to run HR. One major cause for the shock: By all appearances, Snowflake wasnt strugglingand it already had a high-profile CEO. I could not resist having an opportunity to bring something Sylvia Pagan. The appearances do not bother me. "But he felt as though he were a minority given that he was an immigrant," the former employee said. I'm just a CEO.". Sailing is a small world. 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. 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 . Also, they havent shared any details on their parenthood, but we believe that the two have a son together. + Follow. SAN MATEO, CA - May 1, 2019 - Snowflake Inc., the only data warehouse built for the cloud, today appointed Frank Slootman as its Chairman and Chief Executive Officer.Former CEO, Bob Muglia, has left the company after leading Snowflake through five years of unprecedented growth. Subscribe. Benoit has a PhD in Computer Science with a focus in Parallel Database Systems and is a named inventor on more than 100 patents. "We all saw the LinkedIn and were like, 'OK, we know what we're getting into now. I dont getthat excited, he explains. Its [always] been too late. "In the Bay Area, by contrast, it is raw ambition, singular drive, and unbridled capitalism in action.". People want to be patted on the back and feel good I'm into not feeling good.". When you win, nobody can hurt you. 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. Frank Slootman is the biggest Snowflake of them all. "So Frank talked to me for two minutes and he was, like, 'Wow. Most recently, Christian worked at Google leading YouTubes infrastructure and data systems. ", "You know, he's this very formal, educated, Dutch, driven, business executive, right?" Slootman, who took over Snowflake in April 2019, had been as ruthlessly efficient with the rest of the process. "I've literally never met the man," he said. Out went executives and sales reps who didnt fit Slootmans mold or didnt want to work for new supervisors who did. He is still on the boards at Pure and Elementum. 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. One year later, he took the company public with share prices that valued the company at more than $2 billion. 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. 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. By 1998 Slootman was running Compuwares California office amid the dot-com boom. Slootman: Snowflake the data storage world Slootman is a celebrity CEO, thanks to his tenure as So far, Snowflake is outrunning its competition. 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. eight hundred pound gorilla in the space, but we sure did not start Slootman once again led with sales as a bridge to a better product. The book . I learned from that experience that I dont want to be in an elevator thats going down, he says. Talking about his education, Frank first attended in Netherlands School of Economics and graduated in 1977.