SNOW - Snowflake Inc. (SNOW) Presents at Morgan Stanley Technology Media and Telecom Conference (Transcript)
2024-03-05 23:32:11 ET
Snowflake Inc. (SNOW)
Morgan Stanley Technology, Media and Telecom Conference
March 05, 2024 05:50 PM ET
Company Participants
Sridhar Ramaswamy - CEO
Mike Scarpelli - CFO
Conference Call Participants
Keith Weiss - Morgan Stanley
Presentation
Keith Weiss
Excellent. Thank you, everyone, for joining us this afternoon. My name is Keith Weiss. I run the U.S. Software Research practice here at Morgan Stanley. I'm very pleased to have with us from Snowflake, both newly appointed CEO, Sridhar Ramaswamy; and CFO, Mike Scarpelli, a longtime CFO. So, thank you, gentlemen, both for joining us.
Before we get started, for important research disclosures, please see the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures.
Question-and-Answer Session
Q - Keith Weiss
Again, so thank you for joining us at the conference. And it's really great to be able to talk to you right as you're sort of embarking on the CEO position at Snowflake. I guess the first question that I was really interested in hearing from you, when Frank Slootman was talking about the transition on the call, he is saying like, listen, this is the right guy for the next stages of evolution, the challenges Snowflake is going to see over the next couple of years. What makes you the right guy, which is a weird question to ask you, but like what makes you the right guy for the next three to five years for Snowflake?
Sridhar Ramaswamy
First, excited to be here, I was here last year, how much the world has changed in a year. So, I've been at Snowflake for several quarters and it's been a fun experience because I got to know the Exec team, the Board, the legend that Frank is himself. We spent a whole week together just doing customer calls, meetings from 8 A.M. to 10 P.M. every day. So, he got to know me, I got to know him.
Just a little bit of background. I have an academic background. I joined Google very early as an engineer, in fact, got to run the Search Ads team and then gradually more and more of Ads at Google. I was the lead of the ads and commerce team for over five years, helped grow that business from the $1.5 billion that it was when I joined to over $120 billion when I left. So, I've seen massive amounts of scale.
And Ads at Google is very unique because the way performance advertising works, the business is actually run jointly by the sales team and the product team. The sales team gets people to commit, but similar to how consumption works, the product team then decides how that money is actually spent....
Snowflake Inc. (SNOW) Presents at Morgan Stanley Technology, Media and Telecom Conference (Transcript)