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Frank Slootman

👤 Person
540 total appearances

Appearances Over Time

Podcast Appearances

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

I need to go find people that view that Not as a founder, but the partner to that founder that see that burden, that opportunity, the privilege of doing that is something that they want to do. And I think there are people out there that want to work that hard.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

I need to go find people that view that Not as a founder, but the partner to that founder that see that burden, that opportunity, the privilege of doing that is something that they want to do. And I think there are people out there that want to work that hard.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

When I joined, they had about 16 reps. And if you look at just sales capacity, that meant the capacity they had at about a million and a half dollars a rep was about roughly less than 30 million dollars. The goal for that next year was 100 million dollars of new business. I had 30 million dollars capacity going into it. I hired 150 people in less than 90 days and we did the 100 million dollars.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

When I joined, they had about 16 reps. And if you look at just sales capacity, that meant the capacity they had at about a million and a half dollars a rep was about roughly less than 30 million dollars. The goal for that next year was 100 million dollars of new business. I had 30 million dollars capacity going into it. I hired 150 people in less than 90 days and we did the 100 million dollars.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

When I joined, they had about 16 reps. And if you look at just sales capacity, that meant the capacity they had at about a million and a half dollars a rep was about roughly less than 30 million dollars. The goal for that next year was 100 million dollars of new business. I had 30 million dollars capacity going into it. I hired 150 people in less than 90 days and we did the 100 million dollars.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

What happened was there was market pull for the technology. There was definitely a receptiveness to it. We had probably underserved the profile of potential customers. We probably didn't have enough people on the street. So there was some pent up demand for us. One of the things we did is we changed our pricing as well. So I got rid of some of the discounting modes that we were dealing with.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

What happened was there was market pull for the technology. There was definitely a receptiveness to it. We had probably underserved the profile of potential customers. We probably didn't have enough people on the street. So there was some pent up demand for us. One of the things we did is we changed our pricing as well. So I got rid of some of the discounting modes that we were dealing with.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

What happened was there was market pull for the technology. There was definitely a receptiveness to it. We had probably underserved the profile of potential customers. We probably didn't have enough people on the street. So there was some pent up demand for us. One of the things we did is we changed our pricing as well. So I got rid of some of the discounting modes that we were dealing with.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

We basically doubled street price in that first quarter, which helped us double the revenue for that first quarter.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

We basically doubled street price in that first quarter, which helped us double the revenue for that first quarter.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

We basically doubled street price in that first quarter, which helped us double the revenue for that first quarter.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

And because I had gone to that user conference and was watching the feedback from these customers, giving massive standing ovations to the founder, telling me this was the best technology they've ever purchased, I had a lot of confidence in the value of the product against the problems we were solving.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

And because I had gone to that user conference and was watching the feedback from these customers, giving massive standing ovations to the founder, telling me this was the best technology they've ever purchased, I had a lot of confidence in the value of the product against the problems we were solving.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

And because I had gone to that user conference and was watching the feedback from these customers, giving massive standing ovations to the founder, telling me this was the best technology they've ever purchased, I had a lot of confidence in the value of the product against the problems we were solving.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

If I go back in ServiceNow, we knew that we wanted to take that company public in a year and a half to two years after getting there. That was just our mode of thinking. Our job was get liquidity for investors, take this company public, get it out in the public market so that customers would have visibility and understanding of who we were, what our financials looked like.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

If I go back in ServiceNow, we knew that we wanted to take that company public in a year and a half to two years after getting there. That was just our mode of thinking. Our job was get liquidity for investors, take this company public, get it out in the public market so that customers would have visibility and understanding of who we were, what our financials looked like.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

If I go back in ServiceNow, we knew that we wanted to take that company public in a year and a half to two years after getting there. That was just our mode of thinking. Our job was get liquidity for investors, take this company public, get it out in the public market so that customers would have visibility and understanding of who we were, what our financials looked like.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

We wouldn't be portrayed as some small little Silicon Valley startup or San Diego-based startup anymore. We wanted to be a public company.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

We wouldn't be portrayed as some small little Silicon Valley startup or San Diego-based startup anymore. We wanted to be a public company.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Scaling ServiceNow to $5BN in ARR | Leadership Lessons from Doug Leone, Frank Slootman and Bill McDermott | VC Value Add: Is it Real and Why the Worst VCs are "Seagull VCs"

We wouldn't be portrayed as some small little Silicon Valley startup or San Diego-based startup anymore. We wanted to be a public company.