In a June 2019 Insider interview, weeks after he joined Snowflake, the CEO said it was "absurd" that the software company Palantir had been criticized for working with Immigration and Customs Enforcement, and he dismissed the issue of gender-appropriate bathrooms. With Scarpelli's help, Slootman started cutting costs. In 2011, Slootman joined ServiceNow as its CEO. Updated Jun 8, 2021, 8:46am PDT. "He would take catnaps, but he was always up," Gabriel told Insider. Slootman: Sailing is in ones blood. I worked on the merger of Burroughs and Sperry which became Unisys. NOW WATCH: Warren Buffett is one of the most frugal billionaires. Denise also helped lead Genesys through its expansion to become a successful IPO and acquired company. 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. We broke the billion-dollar concealing modifications he made to another owner's boat. The Slootmans also have a ranch in southwestern Montana. Tell me more, Asheem.' 1 job was to make the shareholders money. Thierry is a leading expert in query optimization and parallel execution. and a few units in field test. Dominic Ruso, ServiceNow's former vice president of finance, replaced Balaguras. I dont like there to be too Snowflake's vision is a world with unlimited . Otherwise, Im going to go ahead and run the company.. Muglia received two days' notice before Slootman was introduced to employees in an all-hands meeting. Collin Biondo also works in the tech world as an engineer at the email-security startup Abnormal Security. And there'd be some praise or whatever," Chandna said. Slootman now has a net worth of $1.8 billion, Despite leaving Snowflake in 2018, the IPO spiked Muglia's net worth to, Many other Snowflake employees and investors including Warren Buffett, Sequoia, Iconiq Capital, and Salesforce are set for windfalls as well, per. 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. 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. Previous to Serena, he led Symantecs $2 billion Enterprise Security product line as Group President of Security and Data Management. Rather than the usual grilling, Slootman was toasted instead. By 1998 Slootman was running Compuwares California office amid the dot-com boom. And we're all just like, 'Did Frank just call the customer our homies?' But one former senior employee defended Slootman's approach to social issues. I will return to it at some point. Following the sale, he became Senior Vice President and CFO of EMCs Software Group. 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. Snowflake is a special company, they just dont 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. through the acquisition of Bix, where he served as CEO. The ever-cocky Slootman relishes the idea of proving the doubters wrong. Frank Slootman, Chairman and CEO of Snowflake, recently launched a new book called Amp it Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity. However, at the age of 26, Frank moved to the USA in 1984 to work for Burroughs. Earlier in his career, he spent nearly a decade at Oracle as Senior Vice President of Product and Services Marketing. Approximately 80% of the Fortune 500 turn to Deloitte for strategies that create shareholder value. Soon Slootman resumed his old tricks. June 7, 2021. "You know, win at all costs and don't mind who gets caught in the crosshairs. So that was it. He barely slept, said Ruben Gabriel, one of the crew. I helped the company move its software to non-mainframe platforms that started to emerge on UNIX in the late 80s. Muglia said that when he was CEO the board of directors encouraged a culture of free spending. "But he felt as though he were a minority given that he was an immigrant," the former employee said. Slootman brought this combative spirit to Snowflake, cutting spending and people he deemed unnecessary, insiders said. I need to spend the little bit of time I have left over with my family, not sailing. Chris Degnan. In 2003, he became CEO of storage startup Data . Experts say Snowflake, which today has a market valuation of nearly $77 billion, has been bolstered by therise of remote work during the pandemic. 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. Frank Slootman Bio: Early Life. It was founded in July 2012 and was publicly launched in October 2014 after two years in stealth mode. 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. "So Frank talked to me for two minutes and he was, like, 'Wow. Amp it up and the results will follow. She is a frequent speaker on topics including corporate board diversity, sponsorship and inclusion, and was a Stanford Entrepreneurial Thought Leaders speaker. 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. At ServiceNow and also at Snowflake you replaced previous CEOs who had already built the companies to substantial sizes. I have American citizenship, which I treasure greatly, but there is no denying my Dutch roots. 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. ", Wyss said that every now and then Slootman would loosen up. Prior to joining Snowflake, she served as CMO for Apigee, an API platform company that went public in 2015 and Google acquired in 2016. This stock is being completely driven by the Robinhood crowd.. When he became CEO of Snowflake, Frank Slootman cut costs, including the company ski trip to Tahoe. Staffers started frantically Googling their new boss. During his six-year tenure he help grow the business from $75m in annual revenues to $1.5bn. A 20-year veteran of the IT industry, Jeremy joined EMC from Serena Software, where he was President and CEO. While some in Silicon Valley warn of a backlash, Slootman's main concern is winning. 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. She also worked in GEs corporate headquarters, and Transportation Systems and Aerospace divisions. 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. Just as his hero Patton was described as paranoid yet brilliant, Slootman said he lives in constant fear of inferiority. ", Slootman said he left ServiceNow in 2017 because "they started caring about things that I had no interest in.". If Im doing a bad job, you should go ahead and fire me. Slootman retired in 2017, but the break was short-lived. I hired on with Burroughs instead. "I used to call it 'drunken sailors' spending. Christian earned his bachelors degree in Industrial Engineering from Los Andes University, and he is a named inventor on numerous Snowflake patents. 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. Jayshree holds a B.S. 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. Mar 11, 2021, 11:30 ET. 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. We were seen as the Prior to Oracle, Benoit worked at Bull Information Systems. I'm just a CEO.". Just a month later, Snowflake under Slootman had shifted to become a performance-based business. As President and CEO of Arista for over a decade, Jayshree Ullal is responsible for Aristas business and thought leadership in cloud networking. Under his tenure, Snowflakes customer count grew from 80 in June 2015 to more than 1000 in January 2018. Snowflake, while not yet generating $1 billion in annual revenue, leaped into the Cloud Wars Top 10 several months ago and . 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). People want to be patted on the back and feel good I'm into not feeling good.". Sign up for notifications from Insider! many layers between me and the action. Chris serves as Snowflakes Chief Revenue Officer and has been with the company since 2013. Chief Financial Officer. 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. A Pac52 sailboat like Slootman's Invisible Hand costs between $1.8 million and $2.5 million. I am truly a hybrid Dutch-American. "At the end of the day, there is a pretty fierce competition for talent, and people are going to vote with their feet," Bullinger said. In Amp It Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity, he shares his . Otherwise, Im going to go ahead and run the company., When Slootman expressed interest in the Snowflake CEO job, Sequoia and Sutter Hill jumped. He sees himself as someone who bootstrapped his way up, people said. Its like being on the Americas Cup boats: Every day is about sailing faster, says Denise Persson, Snowflakes CMO. I never worked in Holland, but was born, raised and educated there. 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. In 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. We were in a shit fight all the time. Its [always] been too late. It also changes over time. that upside with me at the helm. "Frank said, 'So the IT service managers, those are our homies, right?' afar. When Slootman attended all-hands meetings, he "would drop f-bombs and s-bombs," the executive said. Slootman, who took over Snowflake in April 2019, had been as ruthlessly efficient with the rest of the process. Sylvia Pagan. And 99 times out of 100, youre wrong on that, which is the reason I [now] pull triggers much faster. 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. Slootman's pay includes more than 13.7 million options with a strike price of $8.88. 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. He said Slootman would check the navigation at all hours of the night to ensure Invisible Hand held its lead. He did this in part by diversifying the product set so ServiceNow could sell to lines of business (LOBs) outside the IT department. After fighting so hard to become a CEO, Slootman doesnt know how to do anything else. Snowflake, a cloud-based data-warehousing company, went public at $120 a share, and has since seen shares trade as high as $328 per share. 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 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. Around the same time, he began meeting with research analysts who would wind up setting bullish prices for the IPO. Eight years later, with Snowflake, he had to do it over Zoom. During the next six years, Data Domain grew Just six months in, he had lined up his anchor investors, including Dragoneer Investment Group and Marc Benioffs Salesforce. Under his tenure, Snowflake's customer count grew from 80 in June 2015 to . Mark also serves on the boards of Cisco, GoDaddy and Pure Storage. In both her ServiceNow and Snowflake roles, Sylvia was instrumental in scaling HR functionality in hypergrowth environments into successful and sustainable post-IPO trajectories. After his retirement from ServiceNow, Slootman poured millions into his sailing hobby, people familiar with his sailing operation said. 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. "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. can execute, but I cant justify The assignment itself was another challenge: Compuware was bleeding employees to Silicon Valleys emerging powers. 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. This is good news for Snowflake.. Slootman told CNBC in October that he had no time for Silicon Valley's "lattes and neck rubs" culture. He had built a monster and Data Domain still dominates the purpose-built backup appliance market, 11 years on. 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. Did you still want to challenge yourself at the helm of a company that could do great things? "Comments I made during a media interview last week may have led some to infer that I believe that diversity and merit are . Between 2011 and 2017, Slootman was Chairman and CEO of ServiceNow - one of the world's leading SaaS . He holds over 50 patents. But certainly I did it, says Muglia, noting that overall spending at Snowflake increased after he left. Sylvia serves as Chief Human Resources Officer at Snowflake. The company currently has a market cap of $48 billion. After that it was board membership; Pure Storage, Medallia and Elementum SCM,and more VC investing with his own Invisible Hand Ventures. 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. I will still He settled on a fast-growing but under-the-radar software startup based in Santa Clara called ServiceNow. Are you now a professional CEO rather than a startup boss? 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. "It had an aggressive tone to it," one former Snowflake executive said. TAPE SUCKS: Inside Data Domain, A Silicon Valley Growth Story he wrote: I was CEO of Data Domain, Inc. from the 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. Data Domain Inc. Jun 2003 - Jul 20096 years 2 months. 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. Mike Scarpelli. 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. the board gives me the chairman title or not does not matter. "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. But all that changed when Slootman came aboard. Blocks & Files: Are you still involved in regatta racing with your yacht Invisible Hand? 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 . Teresa previously served as a Vice Chair & West Region and San Francisco Managing Partner of Deloitte, and as Managing Partner, Silicon Valley. 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 . Snowflake is a cloud data-warehouse-as-a-service company operating in a sector expected to grow to $4.69bn revenues by 2024. Teresa Briggs is a senior executive with deep experience in strategy, business transformation, and governance. She led the company to a historic and successful IPO in June 2014 from zero to a multibillion-dollar business. 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 . If Im doing a bad job, you should go ahead and fire me. + Follow. past. 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. In his book He is still on the boards at Pure and Elementum. 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. Frank Slootman Net Worth, Wiki, Bio, Family, Age, Wife / . But sailing couldn't keep him occupied for long. After that, Frank attended Erasmus University Rotterdam where he studied for more than 7 years from 1978 to 1985. Muglia, for his part, told Insider that he couldn't comment on the personality of his replacement. Chris has over 20 years of technology sales experience. He played a critical role in transforming BladeLogic from a startup, to a public company, to the firms $880 million acquisition by BMC Software. "It was not written under the name of Frank, which is telling," the former Snowflake executive said. Before Google, Greg spent six years at Sun Microsystems, working on Java runtime environments and operating systems. As reported by Forbes, the company has been raising billion on the ongoing pandemic and its shares are crossing more than $30 billion. Snowflake. His conservative peers are some of the more controversial execs in Silicon Valley, like Palmer Luckey, who was ousted from Facebook after financing an anti-Hillary Clinton meme group, and Tesla founder Elon Musk, whose SpaceX political-action committee donated $119,000 to lawmakers who voted against Joe Biden's Electoral College victory. bar after ServiceNow. 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. Presently, Frank Slootman is Chairman & Chief Executive Officer of Snowflake, Inc. He hired up to 15 professional sailors and paid for their gear, travel, and accommodations for multiple races each year, which could cost as much as $1 million annually, according to his crewman Gabriel. 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. So its showing them a really nice path forward. When you win, nobody can hurt you. Frank has over 25 years of experience as an entrepreneur and executive in the enterprise software industry. 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. Prior to Oracle, Benoit worked at Bull Information Systems. warrants. I learned from that experience that I dont want to be in an elevator thats going down, he says. 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. Blocks & Files: You were born and raised in The Netherlands. Prior to Cisco, she was Vice President and Chief Financial Officer of GE Healthcares Healthcare Systems business. Linked companies : Snowflake Inc. Kramer joined Cisco in 2012 as Senior Vice President of Corporate Finance. Better modeling and the focus shift to larger accounts also made it easier to guess how users might expand or contract. 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Presents at Goldman Sachs Communacopia + Technology Conference 2022, Sep-14-2022 03:45 PM. to sell more than all its competitors combined. Data Domain and ServiceNow hired you on merit, not because you checked a box.". From 2017-2019, he was Vice President, Legal at ServiceNow, where he was responsible for corporate, securities, and M&A. 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. Slootman: Snowflake 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.

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