Back then, there were hardly any software companies around. Hes had stints at Data Domain, bought by EMC for $2.4 billion in 2009; ServiceNow, which ran a $210 million IPO in 2012; and his current Snowflake gig following its IPO last year, which raised $3.36 billion at a valuation of $33.6 billion. In other words, somebody who has lived their lives over and over. Frank Slootman, Chairman and CEO of Snowflake (NYSE: SNOW), presided over the largest software IPO in the NYSEs history, but it wasnt his first rodeo. He's a pretty good golfer. He was pretty smart to use nautical expressions in that conversation, take the helm at Snowflake. Start your free trial. Yeah. 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Snowflake CEO Frank Slootman said Wednesday that shareholders need to be patient with the companys stock because the cloud transition is not happening overnight. And I was like completely taken aback because there not a single thread thinking about that, considering that, considering any role of any sorts. I mean, you probably have even a sense of things that you know you're not good at. I always talk about mission posture, which really means having a very, very intense visceral sense of what the company is trying to achieve. All these things eventually came together. They're kind of like whine and bitch all day. Slootman's comments came after shares of Snowflake tumbled as much as 8 percent in extended trading after the companyreported fiscal first-quarter results. 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 It's like it's full of feedback. They also appreciate it. It's been extremely successful since we took over. Bunkers is basically a silo that's incredibly hard to access. Don't typecast yourself." 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). And now, welcome inside the ICE House. That's NYSE ticker symbol S-N-O-W or snow who, like the immigrant inhabitants of New Amsterdam more than two centuries ago, has proven himself a master entrepreneur and visionary leader, able to take a great idea and scale it massively, and then apply the same playbook again and again. Engineers should have a very easy time discerning the talent, so. When you run companies, you need to narrow the plane of attack very, very quickly. The IPO was the Snowflake runs onAmazon S3since 2014, onMicrosoft Azuresince 2018and on theGoogle Cloud Platformin 2019. That's the point of it. View source version on businesswire.com: Snowflake offers a cloud-based data storage and analytics service, generally termed "data warehouse-as-a-service.". The company says its still without a headquarters, but federal law requires it name a principal executive office.. Architecturally, just damn near perfect, so. And it's very rare to create that kind of value. So I've been very different from early days of Data Domain, later days of Data Domain, early days of ServiceNow. But that is what digital transformation is. We don't preside, okay? You really need to, look at yourself as an asset that can be applied in many, many different ways. And a lot of people shy away from that because it's incredibly high anxiety to live in that world, but you want to suppress that reflex. But what is so great about it is, I mean, the starts are incredibly exciting and that takes enormous amount of drilling to become really good at starts because it's a tightly, tightly coordinated process and you have to become good at it. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. And that is a common thread through all our companies. Dageville and Cruanes previously worked as data architects at Oracle Corporation; ukowski was a co-founder of the Dutch start-up Vectorwise. Every week there was a new bid. WebLinkedIn View on LinkedIn. Where does a CEO Frank find time to write two books back-to-back and what was the inspiration for Amp It Up? I'm buying aptitude and then I'm going to develop that with experience, right? The question is though, for investors, for others, for employees, how do you keep momentum going now as a public company and how does the future look for Snowflake? Top 5%. There's no doubt that the successes that we have had, our function of the combination of our respective orientations in how we come at the world. These are big, big changes that we are experiencing in the marketplace, and were just super happy to be in the middle of that and be an enabler of that, he said, adding that Snowflake places its focus on growing at scale. Thanks so much for joining us inside the Ice House. It's hard to get off of that. They just said, "Look, let's re-envision, re-imagine based on the platform realities that we now have, which was the Public Cloud. I really had to be shamed into writing this book, considering the amount of work that it is, but got a lot of help from the company. No databases of scale and no file systems with scale. Some of the companys customers include companies like Capital One, Adobe, DoorDash, Western Union and PetCo. In AMP IT UP, he shares how leaders can convert lingering potential into superior results with the resources they already possess. And for our audience who may not remember the days of tape backups, can you explain the underlying concept that you grew from two men and a dog into a multibillion dollar business? the internship sort of came about because I was about a year ahead of schedule at the university. Snowflake is a cloud computing-based date warehousing company. That's awesome. And I have to, the moment I start sitting in my ivory tower and rely on reporting from people all over the place, we're in a world of hurt. It could address very few use cases. And then George Washington was sworn in as the first President of the United States, just a few feet from the front door of the NYSE on April 30th 1789. And I'm like, "You know what? But yeah, aptitude is really about, what are you innately good at? WebFrank Slootman Chairman & CEO. To see all content on The Sun, please use the Site Map. We call it a turn on the crank and we came out with a product that was at least twice as big, twice as fast, so the market kind of opened up gradually for us. The liberalization of LNG is creating a global natural gas market, with freight acting as a virtual pipeline between continents. ICE is the first exchange to list LNG freight futures contracts underpinned by the price assessments of spark commodities. What took you back to the Netherlands at one point? Basically, we had to solve our enormous problems that we have while the company was doubling in size, more than doubling its size every year. People who have seen sort of the ticker symbol of Snowflake pass their eyes on CNBC and see how its companies perform and say like, "What is that company with the name after falling snow from the sky?" But the thing that I like so much about yacht racing that I like better than being in business is when you make a mistake on the race course, it's almost immediately obvious that you did. Thousands of customers across many industries, including 223 of the 2021 Fortune 500 as of October 31, 2021, use Snowflake Data Cloud to power their businesses. Neither ICE nor its affiliates make any representations or warranties, express or implied, as to the accuracy or completeness of the information and do not sponsor, approve, or endorse any of the content herein, all of which is presented solely for informational and educational purposes. None of that stuff is material to your mission. Now, I might be a big piece on the chessboard as the CEO of the company, but that's really how you want to think about it. It's you're in this job for a reason. Spark 30S covers a route between the US Gulf coast and Northwest Europe, while Spark 25S covers a route between Australia and China. I hate to break it to the audience, but that is the way that it is. Veteran tech executive Frank Slootman was retired and racing sailboats last year when an old friend reached out. And my email just dribbled down to nothing and all this kind of thing." In any successful company just ask them, they will attribute success to their culture. You need to sort your issues into, "What am I going to focus on?" If you like what you heard, please rate us on iTunes, so other folks know where to find us. Now, for us, it's a data Cloud. But the world of backup and recovery, was dominated, as you said, by tape automation technologies. And you can't play chess pieces in a million different ways, right? You're finding the best sailors in the world and all of that. Fortune And rightfully so, by the way, because they have created something, right?. Frank Slootman, Chairman and CEO of Snowflake (NYSE: SNOW), presided over the largest software IPO in the NYSEs history, but it wasnt his first rodeo. Read it now on the OReilly learning platform with a 10-day free trial. If you want to be the best - Amp It Up is for you. " Dun & Bradstreet Our business is really going to conduct itself really over considerable, long periods of time, Slootman said in an interview with CNBCs Mad Money. While he was CEO of Santa Clara-based ServiceNow Inc. he contributed At the same time, I ended up in conversations with the lead director and investor at Snowflake.