How software company Snowflake convinced the stock exchange

In companies, the amount of data that needs to be stored and evaluated is increasing. This is exactly the basis for the software expert Snowflake is building its business model. IPO seems to be the next logical step.

EFrank Slootman actually saw himself retiring. Three years ago, the manager resigned as CEO of the American software provider Servicenow, thinking that this would end his career. “I have to sail 80 days a year and play bad golf,” he said in an interview with FAZ. He has also served as an investor and held various supervisory board positions in many companies.

The Dutch can look back on the success of the American technology industry. Under his leadership, Servicenow went public and became one of the most famous representatives of emerging software companies specializing in “cloud computing”. Today, Servicenow is run by Bill McDermott, former CEO of the German SAP Group. Last year, when Snowflake, a California cloud computing company, approached him and appointed him chairman, Slootman changed his plan. He explained: “I let myself be hit hard because I see great potential here.”