Snowflake CEO now Blackstone senior advisor

Frank Slootman has been appointed a senior advisor at Blackstone as the firm continues to build out its work with high-growth, high-tech companies. Currently the Chairman and CEO of Snowflake, Slootman will advise on Blackstone Growth (BXG), the $584 billion alternative investment firm’s growth equity effort. The unit’s focus is on providing capital to companies seeking to minimize the execution risks associated with high-growth environments. BXG's recent investments include Bumble, Oatly, and ISN. At Snowflake, which recently completed an $3.4 billion initial public offering, and previously at ServiceNow and Data Domain, Blackstone officials point out that Slootman has had repeated success creating fast-growing, market-leading software businesses. “Frank is a software industry visionary who has an incredible track record of building great teams and world-class companies,” said Jon Korngold, global head of BXG. “Given BXG’s focus on partnering with entrepreneurs to help transform regional champions into global industry leaders, Frank’s insights will be invaluable to us and to our portfolio companies.” Prior to Snowflake, Slootman spent six years as CEO and president of ServiceNow, a cloud computing platform for digital workflows. At ServiceNow, he helped grow the business, advancing the company through an IPO and increasing its annual revenue to $1.4 billion. His experience also includes time as president of the Backup Recovery Systems Division at EMC and as CEO and President of Data Domain Corporation, where he led the company through its IPO process. “I’m excited to advise Blackstone,” Slootman said. “Having run a number of global software companies, I appreciate the scope of resources that Blackstone can bring to high-growth technology companies. Given this period of high growth and innovation, Blackstone is well positioned to help entrepreneurs realize their potential and execute on their visions.”

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