Business > Running

Frank Slootman joined Snowflake as CEO in May 2019. 16 months later, his stake is worth $3.9 billion

1 month ago   |   By Business Insider

Summary List Placement
Cloud data warehousing firm Snowflake went public in the largest US software IPO in history on Wednesday. Snowflake opened at $245 per share , which outpaced its offering price of $120, and the stock ended up at nearly $254 by market close.
Frank Slootman, who joined the firm as CEO in mid-2019, also gained a new title after the successful IPO: billionaire.
Let's break it down
To understand how Slootman's net worth shot up so much, you need to understand Slootman's stake in the company he runs.
In Snowflake's S-1 , Slootman is reported to have 15,213,149 shares of...
Read more ...

 

$62 billion Snowflake's wildly successful IPO is another major victory for CEO Frank Slootman, one of tech's most 'ruthless' and outspoken CEOs

$62 billion Snowflake's wildly successful IPO is another major victory for CEO Frank Slootman, one of tech's most 'ruthless' and outspoken CEOs

1 month ago   |   By Business Insider

Summary List Placement
Frank Slootman took over as Snowflake's CEO in April last year amid speculation that he was brought in because the hot startup's board was in a hurry to go public.
He responded to the chatter with the characteristic directness of a veteran Silicon Valley fighter who idolizes World War II General George Patton. Slootman dismissed talk that his predecessor Bob Muglia was ousted because he wasn't gunning for an IPO soon enough as the "dumbest thing I've ever heard," saying that an IPO could happen within three years.
"There is zero pressure to take the company public...
Read more ...

 


Search by Tags

   Running      Market      World      Tech  


Microsoft Teams passes 115 million daily active users

Microsoft Teams passes 115 million daily active users

Microsoft Teams has passed 115 million daily active users, up 53% from the 75 million daily active users in April. Read more ...

Reagan's FBI director and 19 other former GOP-appointed US attorneys endorse...

Reagan's FBI director and 19 other former GOP-appointed US attorneys endorse Biden, saying Trump is 'a threat to the rule of law'

Summary List Placement A group of 20 former Republican US attorneys, including a FBI and CIA director under former president Ronald Reagan, endorsed Democratic presidential... Read more ...

Michael Bloomberg pours $15 million into last-minute ad campaign to boost...

Michael Bloomberg pours $15 million into last-minute ad campaign to boost Biden in key battleground states of Texas and Ohio

Summary List Placement Former Democratic presidential candidate Michael Bloomberg is financing a late $15 million advertising push for former Vice President Joe Biden in Texas... Read more ...

Greenlight Capital's David Einhorn just called the top in stocks, and gave...

Greenlight Capital's David Einhorn just called the top in stocks, and gave 10 reasons why tech is in a bubble

Summary List Placement September 2 was the top in the stock market, hedge fund investor David Einhorn argued in Greenlight Capital's third quarter letter. According to Einhorn... Read more ...

Cyberpunk 2077 postponed another 21 days until December 10

Cyberpunk 2077 postponed another 21 days until December 10

CD Projekt Red announced that it has delayed the ambitious and highly anticipated Cyberpunk 2077 by another 21 days until December 10. Read more ...

Amazon is hiring 100,000 seasonal workers to help it keep up with a surge in...

Amazon is hiring 100,000 seasonal workers to help it keep up with a surge in holiday orders

Summary List Placement Amazon is hiring 100,000 seasonal workers ahead of the holiday season. The company announced on Tuesday that it's looking for workers across experience... Read more ...

Trump's attacks on Hunter Biden haven't won the president a single extra...

Trump's attacks on Hunter Biden haven't won the president a single extra vote, says Ted Cruz

Summary List Placement Sen. Ted Cruz said he believes that media stories about Joe Biden's son Hunter are not persuading "a single voter" to change their support in the US... Read more ...

Tesla paid Elon Musk $3 million to personally insure company directors...

Tesla paid Elon Musk $3 million to personally insure company directors against lawsuits for 90 days, a new filing reveals

Summary List Placement Tesla paid its CEO Elon Musk $3 million after the billionaire personally offered up to $100 million in indemnity coverage to company directors, a new... Read more ...

Google Search rivals urge EU to revisit Android antitrust case

Google Search rivals urge EU to revisit Android antitrust case

Five smaller search engines are banding together to request that EU regulators to take a renewed look at anticompetitive practices by Google. Read more ...

People across Italy violently protested new lockdown measures imposed after...

People across Italy violently protested new lockdown measures imposed after a spike in COVID-19 cases, setting fires and looting luxury stores

Summary List Placement People across Italy are violently protesting a second wave of lockdown measures imposed Monday to combat a spike in COVID-19 cases. Prime Minister... Read more ...