Two years after Slootman came aboard as the CEO of ServiceNow, in 2011, he moved its headquarters to Santa Clara, in Silicon Valley. Muglia, for his part, told Insider that he couldn't comment on the personality of his replacement. At ServiceNow and also at Snowflake you replaced previous CEOs who had already built the companies to substantial sizes. Each member maintained a grueling schedule of three hours on deck followed by three hours of sleep, 24 hours a day. A CEO must lead a board, period. 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. When Slootman attended all-hands meetings, he "would drop f-bombs and s-bombs," the executive said. Frank Slootman Net Worth, Wiki, Bio, Family, Age, Wife 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. Amp It Up. Better modeling and the focus shift to larger accounts also made it easier to guess how users might expand or contract. Visit Business Insider's homepage for more stories. Approximately 80% of the Fortune 500 turn to Deloitte for strategies that create shareholder value. And there'd be some praise or whatever," Chandna said. 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 . Similar is the scenario with his married life. The eight-year . He did this in part by diversifying the product set so ServiceNow could sell to lines of business (LOBs) outside the IT department. I have no playbooks, I am entirely 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. In October, Slootman was approved for a 20-year lease at a tiny airport near the home to park a private aircraft. His second: parting ways with anyone who seemed fond of palace intrigue or who didnt deliver precisely on their word. Snowflake, while not yet generating $1 billion in annual revenue, leaped into the Cloud Wars Top 10 several months ago and . Cofounders Dageville and Cruanes are counting on Slootman and CFO Scarpelli to steer Snowflake through the stock markets gyrations. We're not into that. Country of residence : Unknown. Slootman's investor friend Chandna recalled when the CEO stopped by his home recently. temperament that needs an outlet I guess, but I never really decided to O'Reilly members get unlimited access to books, live events, courses curated by job role, and more from O'Reilly and nearly 200 top publishers. A Gartner analyst on vacation spotted the executive and crashed the meeting to go full fanboy. But the question becamehowgreat Mr. Slootman is a billionaire businessman who was born on 3 rd October 1958 in Holland. Copyright 2023 | WordPress Theme by MH Themes, Check Out The Net Worth of Hallea Jones! What is the appeal of that? He holds a BS and MBA from University of San Francisco, and Executive Education in Leadership and Technology from Stanford University. "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. After the Data Domain acquisition, Slootman spent two years inside EMC as president of the Backup and Recovery Systems Division. 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 post raised collective eyebrows at Snowflake, former employees said. 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, on Invisible Hand, his sleek 52-foot sailboat made from carbon fiber and 3D-printed titanium. However, at the age of 26, Frank moved to the USA in 1984 to work for Burroughs. Slootman's pay includes more than 13.7 million options with a strike price of $8.88. "I used to call it 'drunken sailors' spending. Mark holds a B.S. [2] [3] The firm offers a cloud-based data storage and analytics service, generally termed "data-as-a-service". "You could not escape the combat mentality at our companies. 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. He's donated $14,550 to Republicans in the past five years, according to the Center for Responsive Politics. Stay up to date with what you want to know. sales barrier in less than seven years, adding more than one thousand employees While some in Silicon Valley warn of a backlash, Slootman's main concern is winning. Also, I helped the company move its software to non-mainframe platforms that started to emerge on UNIX in the late 80s. 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. We were in a shit fight all the time. Denise also helped lead Genesys through its expansion to become a successful IPO and acquired company. "You know, win at all costs and don't mind who gets caught in the crosshairs. 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?. His dream employer: IBM. In came two of his top lieutenants from Data Domain and ServiceNow: Mike Scarpelli to oversee finances and Shelly Begun to run HR. Rather than the usual grilling, Slootman was toasted instead. When executives at a later company, Compuware, realized in 1995 that an acquisition in Amsterdam was going sideways, its young staffer, a native Dutch speaker, was given a chance to clean up the mess. 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. fire the CEO. ", There were no employee-resource groups at ServiceNow, she said, and endeavors like creating a diverse workplace were "not a priority. CEO Frank Slootman made $287,990 in salary in 2019. In Amp It Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity, he shares his . But . "And so I think by remaining neutral, you can allow everyone the freedom to have their own opinion and then keep that separate from work.". Frank Slootman. You can look at my private companies and see how that turned out, he says. Snowflake Inc. CEO Frank Slootman is one of the tech world's most accomplished executives in enterprise growth, having led Snowflake to the largest software IPO ever after leading Data Domain and ServiceNow to exponential growth and the public market before that. Frank Slootman currently serves as Chairman and CEO at Snowflake. Greg has a PhD in Computer Science from Cornell University, an MBA from UC Berkeley, and an undergraduate degree from AGH Krakow, Poland.
