Frank Slootman

Last updated
Frank Slootman
Frank Slootman Snowflake.jpg
Born1958 (age 6566)
Netherlands
Education Erasmus University Rotterdam
OccupationBusinessperson
Employer Snowflake
TitleChairman of the board
Website LinkedIn

Frank Slootman (born 1958) [1] is a businessman and author [2] known for growing companies founded by others. [3] [4] Slootman has taken three companies through an initial public offering. [3]

Contents

Early life and education

Slootman was born in the Netherlands and earned a degree in economics at Erasmus University Rotterdam. [3] He did market research for tire company Uniroyal, before earning a doctorate in General Business Administration from the same university. [5] After graduating, Slootman moved to the United States in 1982. [3]

Career

Slootman's first management position was at Compuware in 1995. [3]

His first CEO position was at Data Domain in 2003. [3] During his time at Data Domain, the company raised funding to avoid bankruptcy and increased revenue for the next four years. [3] He left Data Domain in 2009 as part of EMC's acquisition of the company. [6] He was CEO of the company when it went public in 2007. [3]

He was appointed CEO of ServiceNow in 2011, then led its initial public offering the next year. [7] He also converted ServiceNow from a help-desk provider to a broader IT services business. [3]

Slootman was appointed CEO of Snowflake on April 26, 2019. [3] Slootman prepared the company for an initial public offering during the COVID-19 pandemic. [3] Slootman held a 5.9% interest in the company during the IPO. [8]

In 2022, Slootman published a book called Amp it Up: Leading for Hypergrowth by Raising Expectations, Increasing Urgency and Elevating Intensity. [2]

On February 28, 2024, Snowflake announced that Slootman was retiring and Sridhar Ramaswamy would be replacing him as CEO. He would remain Chairman of the Board. [9]

Books

Related Research Articles

An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges. Through this process, colloquially known as floating, or going public, a privately held company is transformed into a public company. Initial public offerings can be used to raise new equity capital for companies, to monetize the investments of private shareholders such as company founders or private equity investors, and to enable easy trading of existing holdings or future capital raising by becoming publicly traded.

Vonage Holdings Corp. is an American cloud communications provider operating as a subsidiary of Ericsson. Headquartered in Holmdel Township, New Jersey, the organization was founded in 1998 as Min-X as a provider of residential telecommunications services based on voice over Internet Protocol (VoIP). In 2001, the organization changed its name to Vonage.

<span class="mw-page-title-main">Mark Pincus</span> American Internet entrepreneur

Mark Jonathan Pincus is an American Internet entrepreneur known as the founder of Zynga, a mobile social gaming company. Pincus also founded the startups Freeloader, Inc., Tribe Networks, and Support.com. Pincus served as the CEO of Zynga until July 2013, then again from 2015 to 2016.

ZoomInfo Technologies Inc., which sometimes goes by Zoom Information Inc., is a software and data company which provides data for companies and business individuals. Their main product is a commercial search-engine, specialized in contact and business information. From the internet and other sources, the company collects contact and other information about individuals, companies and other business entities, such as departments. They maintain profiles for the subjects and make these available to their clients, as a service and for a fee.

<span class="mw-page-title-main">Workday, Inc.</span> American software company

Workday, Inc., is an American on‑demand (cloud-based) financial management, human capital management, and student information system software vendor. Workday was founded by David Duffield, founder and former CEO of ERP company PeopleSoft, along with former PeopleSoft chief strategist Aneel Bhusri, following Oracle's acquisition of PeopleSoft in 2005.

<span class="mw-page-title-main">Leaf Group</span> American online brand company

Leaf Group, formerly Demand Media Inc., is an American content company that operates online brands, including eHow, livestrong.com, and marketplace brands Saatchi Art and Society6. The company provides social media platforms for large company websites and distributes content with social media tools to web outlets. It is commonly known for being a content farm. Demand Media was created in 2006 by a former private equity investor, Shawn Colo, and the former chairman of MySpace, Richard Rosenblatt.

<span class="mw-page-title-main">ServiceNow</span> American technology company

ServiceNow, Inc. is an American software company based in Santa Clara, California, that develops a cloud computing platform to help companies manage digital workflows for enterprise operations. Founded in 2003 by Fred Luddy, ServiceNow is listed on the New York Stock Exchange and is a constituent of the Russell 1000 Index and S&P 500 Index. In 2018, Forbes magazine named it number one on its list of the world's most innovative companies.

<span class="mw-page-title-main">Aaron Levie</span> American entrepreneur (born 1984)

Aaron Winsor Levie is an American entrepreneur. He is the co-founder and CEO of the enterprise cloud company Box.

Stitch Fix is an online personal styling service in the United States. It uses recommendation algorithms and data science to personalize clothing items based on size, budget and style. The company was founded in 2011 and had an initial public offering in 2017 with a valuation of $1.6 billion. Stitch Fix generated $1.6 billion in net revenue in its fiscal year 2023, a decrease of 21% year-over-year and reported 3,297,000 active clients in September 2023. It is headquartered in San Francisco, California and employs 5,860 people worldwide as of July 29, 2023.

<span class="mw-page-title-main">Sridhar Ramaswamy</span> Indian-American computer scientist and businessman

Sridhar Ramaswamy is an Indian-American computer scientist and executive. He is the chief executive officer of cloud-based data-warehousing company Snowflake Inc. since February 2024. He was the cofounder and CEO of the startup company Neeva, an ad-free, privacy-focused search engine, until it was acquired by Snowflake. He previously led Google’s $115 billion advertising division.

Snowflake Inc. is an American cloud computing–based data cloud company based in Bozeman, Montana. It was founded in July 2012 and was publicly launched in October 2014 after two years in stealth mode.

<span class="mw-page-title-main">Braze, Inc.</span> American software company

Braze, Inc. is an American cloud-based software company based in New York City It is a customer engagement platform used by businesses for multichannel marketing.

ThoughtSpot, Inc. is a technology company that produces business intelligence analytics search software. The company is based in Mountain View, California, and was founded in 2012.

Snap Inc. is a technology company, founded on September 16, 2011, by Evan Spiegel, Bobby Murphy, and Reggie Brown based in Santa Monica, California. The company developed and maintains technological products and services, namely Snapchat, Spectacles, and Bitmoji. The company was named Snapchat Inc. at its inception, but it was rebranded Snap Inc. on September 24, 2016, in order to include the Spectacles product under the company name.

Jyoti Bansal is an Indian-American technology entrepreneur. He founded his first company AppDynamics in April 2008, and went on to serve as CEO until 2015. AppDynamics was purchased by Cisco Systems for $3.7 billion, a day before AppDynamics was due for an initial public offering. He later went on to start two more technology companies – Harness.io and Traceable.ai, where he is CEO.

<span class="mw-page-title-main">Fastly</span> American web infrastructure company

Fastly is an American cloud computing services provider. It describes its network as an edge cloud platform, which is designed to help developers extend their core cloud infrastructure to the edge of the network, closer to users. The Fastly edge cloud platform includes their content delivery network (CDN), image optimization, video and streaming, cloud security, and load balancing services. Fastly's cloud security services include denial-of-service attack protection, bot mitigation, and a web application firewall. Fastly's web application firewall uses the Open Web Application Security Project ModSecurity Core Rule Set alongside its own ruleset.

Dell EMC Data Domain was Dell EMC’s data deduplication storage system. Development began with the founding of Data Domain, and continued since that company’s acquisition by EMC Corporation.

Katrina Lake is an American businesswoman who is the Founder and interim CEO of Stitch Fix, a fashion-based subscription service. Stitch Fix was established in 2011 in San Francisco and went public in 2017. In 2017, Lake became the youngest woman to take a company public at age 34 and was the only woman in 2017 to lead an initial public offering in technology. She was surpassed by Whitney Wolfe Herd in 2021, who took Bumble public at age 31.

<span class="mw-page-title-main">Tony Xu</span> CEO of DoorDash

Tony Xu is a Chinese-American billionaire businessman and the co-founder and chief executive officer (CEO) of DoorDash. Born in Nanjing, China, Xu immigrated to the United States with his parents at the age of four. He earned degrees from the University of California, Berkeley and Stanford University's Graduate School of Business. Earlier in his career, Xu interned at Square, Inc., and worked for McKinsey & Company, eBay, and PayPal. He was included in Fortune's "40 Under 40" list in 2020.

<span class="mw-page-title-main">ICONIQ Capital</span> American investment management firm based in San Francisco

ICONIQ Capital is an American investment management firm headquartered in San Francisco, California. It functions as a hybrid family office providing specialized financial advisory, private equity, venture capital, real estate, and philanthropic services to its clientele. ICONIQ Capital primarily serves ultra-high-net-worth clients working in technology, high finance, and entertainment. The firm operates in-house venture capital, growth equity, and charitable giving funds for its clients.

References

  1. Liesse, Dominque (September 15, 2020). "Frank Slootman, ou le "maestro" des IPO" [Frank Slootman, or the "maestro" of IPOs]. L'Echo (in French).
  2. 1 2 Vellante, Dave (July 17, 2022). "Amping it up with Snowflake CEO Frank Slootman". SiliconANGLE. Retrieved May 6, 2023.
  3. 1 2 3 4 5 6 7 8 9 10 11 Konrad, Alex (February 1, 2021). "The Outsider: How CEO-For-Hire Frank Slootman Turned Snowflake Into Software's Biggest-Ever IPO". Forbes. Retrieved May 5, 2023.
  4. Thomas, Ellen (26 June 2023). "Insiders keep saying that Snowflake CEO Frank Slootman could soon step down but Slootman says he's not leaving". Business Insider. Retrieved 20 January 2024.
  5. "Meet Frank Slootman". Michigan Outlook. 1983.
  6. "Snowflake CEO collects a $95 million payout every month". Fortune. December 4, 2020. Retrieved May 6, 2023.
  7. Kawamoto, Dawn (January 31, 2020). "How the CEO of this closely watched unicorn squeezes performance out of his day". bizjournals.com. Retrieved May 6, 2023.
  8. Warren, Katie (March 9, 2021). "How Snowflake CEO Frank Slootman became a billionaire by ripping up the 'nice guy' Silicon Valley playbook". Business Insider. Retrieved May 5, 2023.
  9. Vanian, Jonathan (2024-02-28). "Snowflake says Frank Slootman is retiring as CEO, stock plunges more than 20%". CNBC. Retrieved 2024-03-01.