He holds a BS and MBA from University of San Francisco, and Executive Education in Leadership and Technology from Stanford University. I exercise executive prerogative, he adds. Teresa has been a stabilizing force in the C-suite and boardroom of influential companies across the technology, retail, consumer products, and healthcare industries. She led the company to a historic and successful IPO in June 2014 from zero to a multibillion-dollar business. Talking about his decision to come to the states, Frank expressed in an interview; how he had never worked in the country where he was born. I never worked in Holland, but was born, raised and educated there. So why did the Snowflake VCs call on 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. An IPO is a blip on the radar, a mile marker during the marathon, he says now. 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. John was responsible for $1.4B in annual revenue, when he served as Senior Vice President of Worldwide Sales and Services at BMC Software. And eventually, his journey led him to Data Domain. can execute, but I cant justify After fighting so hard to become a CEO, Slootman doesnt know how to do anything else. The couple has been married for many years now, but the timeline of their wedding and relationship isnt made public. sales barrier in less than seven years, adding more than one thousand employees 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. SAN FRANCISCO, March 11, 2021 /PRNewswire/ -- Instacart, the leading online grocery platform in North America, today announced that Frank Slootman, Chairman and Chief . If Im doing a bad job, you should go ahead and fire me. Prioritizing the development of raw talent with high upside, Slootman was able to stabilize Compuware. We were in a shit fight all the time. Frank Slootman. 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. He had built a monster and Data Domain still dominates the purpose-built backup appliance market, 11 years on. bar after ServiceNow. I worked on the merger of Burroughs and Sperry which became Unisys. In his new book . He sees himself as someone who bootstrapped his way up, people said. As in sailing, the Frank took us from a very large startup and made us into a very large, well-oiled machine, Luddy told Forbes in 2018. 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. 2 min read. NOW WATCH: Warren Buffett is one of the most frugal billionaires. He retired from Adobe in April 2018. That's not him at all. Visit the Business section of Insider for more stories. Snowflake, valued at $4 billion when Slootman took over, more than doubled that first day and is up significantly since. Slootman was winning so often that rumors started swirling that he had to be cheating. degree in engineering management. 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. June 7, 2021. Slootman hasn't shied away from embracing his right-leaning tendencies in a liberal-dominant industry. 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. Snowflake: Not What You May Think It Is - Datanami 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. Each member maintained a grueling schedule of three hours on deck followed by three hours of sleep, 24 hours a day. Two years after Slootman came aboard as the CEO of ServiceNow, in 2011, he moved its headquarters to Santa Clara, in Silicon Valley. From what we have known, Frank Slootman is married to his wife Brenda Lynne Slootman. And 99 times out of 100, youre wrong on that, which is the reason I [now] pull triggers much faster. Age 64. After all, the former Snowflake executive said Slootman made it crystal clear that his No. . Frank Slootman (born 1958) is a billionaire businessman, and the chairman and CEO at Snowflake Inc., a cloud data-warehousing company. Frank Slootman Net Worth 2020/2021, Salary, Age, Bio, Weight, Height 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. After telling Bloomberg TV that he can't allow a push for diversity in tech to "override merit," Snowflake CEO Frank Slootman released a statement Monday apologizing for a "lack of clarity" in those comments. 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 . Im more interested in why you returned to the CEO frontline than the specific possibilities at Snowflake. Snowflake's Slootman, 2 Others Billionaires After Record-Breaking IPO Cofounders Dageville and Cruanes are counting on Slootman and CFO Scarpelli to steer Snowflake through the stock markets gyrations. Snowflake is a cloud data-warehouse-as-a-service company operating in a sector expected to grow to $4.69bn revenues by 2024. If Im doing a bad job, you should go ahead and fire me. Which was then followed by his association with Compuware and software company Borland. Read it now on the O'Reilly learning platform with a 10-day free trial. Wikitia is not affiliated to Wikimedia Foundation. Senada Greca Wiki: Age, Birthday, Husband, Net Worth, Height, Ethnicity, Boyfriend, Biography, Fatima Goss Graves Bio Wikipedia: Husband, Age, Net Worth, Instagram, Children, Birthday. He'd stay for 20 or 30 minutes, and the customers' jaws would drop and they'd be on the edge of their seat. ISBN: 9781119836117. 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. 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. 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. 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. Blocks & Files: Which other CEOs do you admire and why? I campaigned our TP52 Invisible Hand for three years. And there'd be some praise or whatever," Chandna said. Published Apr 13, 2021. Benoit Dageville. What is the appeal of that? Should Snowflake stumble on its numbers, or if exuberance fades, employees who made their money in the IPO might not want to stick around. The former Snowflake executive recalled Slootman once saying: "I'm not good at hobbies. Frank Slootman is the biggest Snowflake of them all. Frank Slootman is the CEO of Snowflake, a cloud-based database firm he joined in 2019 and took public in September 2020 in a blockbuster IPO. "It was not written under the name of Frank, which is telling," the former Snowflake executive said. 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. Was it purely the job with Burroughs or was there something else? This story appears in the March 31, 2021 issue of Forbes Magazine. 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. 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. But Slootman was more interested in running the show, and Snowflake seized the opportunity. I was rejected at least a dozen times by IBM. Slootman's pay includes more than 13.7 million options with a strike price of $8.88. That's it.". Frank Slootman is the Chairman and CEO of 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. The appearances do not bother me. Michael Scarpelli serves as Chief Finance Officer at Snowflake. 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 also worked in GEs corporate headquarters, and Transportation Systems and Aerospace divisions. "He was very focused on winning the races, and he won pretty much everything," Robbie Murphree-Gabriel, the former logistics manager of Slootman's sailing operation, said. Theyve clearly shown they 5.9% of any company is a huge deal. However, at the age of 26, Frank moved to the USA in 1984 to work for Burroughs. there was an element of restive, people like me have an outsized combative In early 2018, just over a year before his dismissal, Muglia met Forbes for breakfast at a New York hotel. I hired on with Burroughs instead. and six thousand enterprise customers worldwide. Everyone, that is, except Slootman. In both her ServiceNow and Snowflake roles, Sylvia was instrumental in scaling HR functionality in hypergrowth environments into successful and sustainable post-IPO trajectories. 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. "But he felt as though he were a minority given that he was an immigrant," the former employee said. The job of the board is to hire and Slootman did not respond to requests from Insider for comment. See Bio. His first action: reorganizing the sales arm of the business to separate large customers from small, focusing more intently on converting the bigger fish. She is a recipient of the SFSU and SCU Distinguished Alumni Awards in 2013 and 2016. The flip side: sticker shock, as companies bills rapidly grew, and unpredictability, as Snowflake struggled to deliver accurate revenue projections. A 20-year veteran of the IT industry, Jeremy joined EMC from Serena Software, where he was President and CEO. Business is what I'm good at.". "Silicon Valley is very much a high-fiving, self-congratulatory culture," he said. You constantly live with that terminal fear of not doing enough.". I have never crossed paths with Larry Ellison on the sailing front although Ive had many crew over the years who sailed with Larry. leave a leadership vacuum in the board room. 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. Slootman once again led with sales as a bridge to a better product. the data storage world Slootman is a celebrity CEO, thanks to his tenure as Blocks & Files: What was it about Snowflake that attracted you? Slootman retired in 2017, but the break was short-lived. In addition, her organization managed finance for the companys supply chain, marketing, corporate communications, operations, HR, and IT groups. In 2003, he became CEO of storage startup Data . I dont have to justify it, I dont have to convince you. Snowflake CEO Offers Apologies, Support for Hiring Diversity Wyss said. 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. Linked companies : Snowflake Inc. character and had an email interview opportunity. Have I told you my point of view on boards? Slootman likes to say that he doesnt have a formula, even after having pulled off similar magic at both Data Domain and ServiceNow. The post Frank Slootman Wife, Bio, Net Worth, Salary, Book, Married, Children, Stock, IPO, Wiki appeared first on Edailybuzz.com. Frank Slootman Bio: Early Life. With an exit in his back pocket, Slootman had his pick of companies for his next act, in 2011. Says Dageville: We have a lot of pressure to deliver on this valuation.. This page was last edited on 12 March 2021, at 18:12. "It had an aggressive tone to it," one former Snowflake executive said. It was hard for me to work in a big company, too slow and rigid, just not inspired. 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. 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. She currently serves on the boards of ServiceNow (NYSE: NOW), Warby Parker and Snowflake. How Snowflake CEO Frank Slootman became a billionaire by ripping up the Frank Slootman is the biggest Snowflake of them all. Which was then followed by his association with Compuware and software company Borland. [2], In May 2019, Frank Slootman joined Snowflake Inc. as its CEO. Data Domain was running out of money; its technology, while theoretically more powerful than the existing alternatives, ran prohibitively slowly. Start your free trial. "I used to call it 'drunken sailors' spending. comes to mind first, I have learned lessons from Amazon just observing from 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 . 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. From September 2019 through August 2020, Teresa is enrolled as a Fellow at Stanford Universitys Distinguished Careers Institute. 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. enters into it, but I try not be a pattern matcher or be confined to my own Frank led Data Domain from the early phases to an IPO and then to a sale for $2.4 billion to EMC. Slootman knows exactly what he's doing. CTRL + SPACE for auto-complete. Benoit co-founded Snowflake and currently serves as President of the Product division. 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. TAPE SUCKS: Inside Data Domain, A Silicon Valley Growth Story he wrote: I was CEO of Data Domain, Inc. from the 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. 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. 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. 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. Very large enterprises are choosing a vendor to go to bed with for five years, minimum, says Patrick Colville, an analyst at Deutsche Bank. Just as his hero Patton was described as paranoid yet brilliant, Slootman said he lives in constant fear of inferiority. Publisher (s): Wiley. The board, including Doug Leonean investor on Forbes Midas List and Sequoias coleader at the timetasked Slootman with doing for ServiceNow what he had just done for Data Domain. Creative Commons Attribution-ShareAlike. 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.
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