You guys are a data company, you know as well, right? That's the reason why this country does so well. We'll do something good with it. The eight blocks of the street run from Broadway in the west to the East River in the east. I mean, it was a super crowded field, but we just crushed that entire field. Frank Slootman Chairman & CEO. View the full release here: https://www.businesswire.com/news/home/20220119005295/en/, AMP IT UP: Leading for Hypergrowth by Raising Expectations, Increasing Urgency, and Elevating Intensity, by Frank Slootman, chairman and CEO of Data Cloud company Snowflake. $2.1B. Because when all the energy and all the quality of resources is fully concentrated on the mission, that's pure magic, okay? But you think that your upbringing in the Netherlands gave you a unique perspective on business and success, that's helped you throughout your career? $2.1B. Because you're like, "Oh, this is great. This is very much a country that believes things that other countries don't believe. But the issue with the acquisition, by the way, I've never sold a company in my life other than that one, so I'm not prone to selling at all. Real-time trigger alerts. I mean, it's like when people start to roll their eyes. When a company is buying a million dollars from you in the course of a year, what are they getting? 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? Snowflake, Customer I mean, they had graphical user interfaces that were completely proprietary to that company. Anybody who's tried to run HP can talk about that because you have companies that have existed for whatever, 50, 100 years, you don't get rid of culture. But in the end, it's like we have to get into backup software in which we tried. Snowflake - Overview, News & Competitors | ZoomInfo One of the worst, worst in the English language for me. Snowflake enables every organization to mobilize their data with Snowflake's Data Cloud. And essentially, he defends. A term that gets used a little bit too much in too many places. And it was one, and we were better known as the tape sucks company than we were by our own company name at one point. Most people just preside over culture. And then of course, Michael Dell found just as attractive to bring EMC into Dell. Slootman stressed that the companys software is only becoming more important as enterprises shift away from databases tied to hardware. Slootman urged Snowflake investors to be patient with stock during multiyear cloud transition. 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. If you like what you heard, please rate us on iTunes, so other folks know where to find us. Snowflake offers a cloud-based data storage and analytics service, generally termed "data warehouse-as-a-service.". But let's focus on another dilemma that brought up in the book, Frank. Scale is definitely a problem because you get layers and layers and you got the problem of having tons of passengers on the boat, all these types of issues. I'm buying aptitude and then I'm going to develop that with experience, right? Each week, we feature stories of those who hatch plans, create jobs and harness the engine of capitalism, right here, right now at the NYSE and at ICE's exchanges and clearing houses around the world. 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?" And there were many, many players in that segment, by the way. And for example, when I joined Unysis, I ended up in a corporate planning role. So, she talked me into it because I was on the verge of saying, "Look, I'm not going back there." You can sign up for additional alert options at any time. In other words, they kind of let it happen. Snowflake CEO collects a $95 million payout every month Create a password that only you will remember. Chief Executive Officer & Chairman. You arrived at something like tape sucks. I was just shot. Our guest was Frank Slootman, the Chairman and CEO of Snowflake. Those are just markets, but culture is how you get up in the morning and how you prosecute your day, so it is a huge deal. Dynamic search and list-building capabilities. Frank shares the secrets of his success, the leadership principles that guide him, and what hes learned along the way. And like, "How fast does this guy type?" Can you explain how you overcame both to lead the company through its 2012 IPO? I mean, you probably have even a sense of things that you know you're not good at. Because if I sailed before, I always felt guilty because I was doing something that wasn't the company and now, I was completely free of guilt because it was my own time, my own money, et cetera and it was great. And that really allowed me to do this at 6:00 AM on weekdays and weekends and the holidays. Two years later, he became chairman of enterprise software business ServiceNow, which he guided to a 2012 IPO. And then by the way, I have to have that around me, because I don't like people that want to self-congratulate and do victory laps all day. They've never really been asked that before. I mean, we had like 15X, the X of the next nearest competitor. WebSnowflake is a Montana-based cloud-enabled data warehouse company that provides services including data storage and analytics for businesses. Those are the people that are right there, where the people that bring home the bacon, there when the shit hits the fan. Because that's what it is. A lot of people think that that's possible, but there's a real limit to what salespeople can and can't do. And, likewise, when I go to Holland and I meet Dutch customers there, they kind of look at me with a smirk, like, "Yeah, I can tell you're Dutch. Analytics, Hands-on 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. And it was really my wife who said, "No, no, we'll go. Your purchase was successful, and you are now logged in. But yeah, where the inspiration comes from, we've had three very successful companies in a row, so you get barraged by requests for, "Hey, can you explain to us what the secret sauce is? It is a future state that we're all working on right now. Obviously, that industry had moved on to all kinds of different disk space technologies. We actually won everything that we wanted to win. Large cloud share company moves executive offices to Frank Slootman - Chairman and Chief Executive Officer Invalid password or account does not exist. And when you're burned out, you don't regenerate anymore. By the way, our two largest competitors were both bidding for the company at the same time. Bureau, Marketing So, getting an internship in the US in those days was a really big deal and it really didn't matter to me, where it was, what company it was, I just wanted to have the exposure to what is that like. He says, "If I have a problem in a state like Florida, where bodily injury claims are disproportionate to surrounding states, what explains that? Snowflake - AMP IT UP: Leading for Hypergrowth by Raising Amp It Up tells that story and how it can be recreated in other organizations. 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. This is kind of the pattern that ICE has seen through how different markets have developed, but normally that takes 10 years, whereas actually, it's taken 10 weeks in the auction. Because now, now you're going to look people in the eye, and say, "Look, this is the way we're going to be. New competitors, new partner ecosystems, so it was like, "Wow, this is the future." We played a round of golf. We wanted to buy technology from, what at that time was Veritas, Convo, companies that are still around, because then we could really address the, the functional scale and scope off our platform. And people that know the Dutch, and you seem to know to Dutch people, it's, fairly recognizable what the Dutch attributes are that are at play here. It's just, it's hard not to be acquainted at some level with that culture. Right? Snowflake runs onAmazon S3since 2014, onMicrosoft Azuresince 2018and on theGoogle Cloud Platformin 2019. So, I finally caved, okay. I can't get you aptitude. So in other words, I did not accept the Snowflake role until, Mike said, "I'm coming along.". Hes an operations guru, the leader who turns a jet plane into a rocketship and makes piles of cash for investors, employees, and himself. I often refer to those people as passengers and then, they're the drivers. While that is probably not, my temperament is not terribly well-suited for those types of jobs.