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We are very fortunate to be welcoming a terrific new class of trustees. Dev Ittycheria is president and CEO of MongoDB. Well, yeah, I mean, we havent really seen a competition with the community. My job is that I need to do three things well. Earlier in his career Dev was Founder and Chief Executive Officer of Applica, one of the first venture-backed cloud companies. Dev Ittycheria most recently served as the President of the Enterprise Service Management division of BMC Software, where he was responsible for a business with $1.2 billion in annual revenue and approximately 4,100 employees. And obviously we also want to plant seeds, especially on the product side, for things that we think will bear fruit two, three years from now, because a lot of the investments were making now wont show up as products until later. And they said, we really want to embed all our OTP functionality along with application search in one platform, its much easier to maintain. And we also think therell be a lot of free usage of MongoDB out there. So going after the database market is one of the largest markets in enterprise software. They purchased a total of 1,150,006 shares worth more than $79,339,605.34. There was obviously some interesting companies, obviously DoubleClick was doing well, and adtech was a big space and new media was another hot area, but hardcore tech was not a placefor the New York. Learn More on Dev Ittycheria's contact information. Mr. Ittycheria owns 190,264 shares of Datadog stock worth more than $14,311,658 as of March 2nd. Dev Ittycheria is an American software executive, entrepreneur, venture capitalist, and the president and CEO of MongoDB, a popular next-generation database. MongoDB was founded by developers for developers to provide a database designed for today's modern applications. Youre running a tech company with offices around the world. And so its a constant kind of focus around those three things that allow us to make sure that were kind of running our business and scaling it well. Max Schireson, the company's current CEO, will become Vice Chairman and remain with the company full time after transitioning the CEO role, said a company release. And actually I led the B round at Datadog. Were talking about a company thats now 44 years old and they still havent solved the scalability problem. (The 2016 Big Data Landscape), Resilience and Vibrancy: The 2020 Data & AI Landscape, A Turbulent Year: The 2019 Data & AI Landscape, Firing on All Cylinders: The 2017 Big Data Landscape, Great Power, Great Responsibility: The 2018 Big Data & AI Landscape, Internet of Things: Are We There Yet? If developers dont use our product, we dont have a business. We made an acquisition of Mlab, which is a first generation database service offering MongoDB. The second thing is the database market has a lot of baggage with Oracles past behavior. So it was a very fair trade. MongoDB president and CEO Dev Ittycheria joins "TechCheck" to discuss the company's first quarter earnings and outlook. Its frankly, its not aligned to how developers work and as the data model grows, it becomes more and more brittle and its harder to change. Stephen M. Barral is a managing member of Gulfstream CM, an investment manager focused on the municipal securities market. And today were approaching 4,000 people and about $700 million in run rate. Don't miss the $.13 cent "Next-Gen" stock that just received a $2.50 target for 2023. Dev was appointed to the board of Altimeter Growth Corporation in 2020, a public special purpose investment vehicle formed to invest in a technology company. How do you keep it together and not lose your sanity and make sure that you have time to think? But the U.S. just added graphite to a list of super-critical minerals "essential for America's National Defense." A question from Alan, about was your strategy growing by acquisition and integration versus organically. Fast forward to today, the company has about 25,000 customers spanning a wider range of industries in more than a hundred countries around the world. Think about supply chain apps where you have to have real-time information. Now, obviously thats at the senior level, maybe the ops people may feel a little threatened, but they also realize that they can add more value to the organization without having to day-to-day manage MongoDB. Those who understand that ruthlessly prioritizing, making hard choices & learning to do more with less are essential leadership skills that will last a lifetime. They sold a total of 897,213 shares worth more than $88,522,836.60. One, the relational database, where youre trying to basically disaggregate data into rows and columns is a very counterintuitive way to model data. Its not all tech all the time and in the Valley, you go to a soccer game and you just run into VCs and entrepreneurs and engineers. So once youre clear on the strategy, then a lot of the focus is on people. I think, as you see the success of these companies, Datadog MongoDB, potentially UiPath, and others, I think youre going to see more talent in the local area. And too many times people wait too long to make changes. That kind of drives our top line forecast. Your email address will not be published. As a CEO, how do you arbitrage between the different needs? This article about a United States businessperson is a stub. Dev Ittycheria is 53, he's been the President, Chief Executive Officer e Director of MongoDB Inc since . Ittycheria and his wife, Dr. Anju Thomas, have two children. The company was founded by Eliot Horowitz, Dwight A. Merriman, Kevin P. Ryan and Geir Magnusson Jr. in November 2007 and is headquartered in New York, NY. Learn More on Dev Ittycheria's trading history. You can help Wikipedia by expanding it. Well, that feels like a great place to end. They want to standardize and say a modern standard like MongoDB, maybe a relational standard like Postgres. There are 4 older and 12 younger executives at MongoDB Inc. Learn More about Dev Ittycheria's net worth. Enter your email address below to get our daily insider buying and selling report. * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). The database firm turned in total revenues of $303.6 million, with a net loss of $118.9 million, up from $77.1 million a year ago. This net worth evaluation does not reflect any other investments that Mr. Ittycheria may own. So it was a real treat this time to get to chat with CEO Dev Ittycheria, who has been leading the company since 2014, and it particular has presided over the companys remarkable ride in public markets since its 2017 IPO. Of this total $58,221 was received as fees earned or paid in cash, $0 was received as non-stock incentive plan compensation, $0 was received as change in pension value and nonqualified deferred compensation earnings, $0 was received as options, $199,962 was awarded as stock and $0 came from . But ultimately we all kind of use that process to galvanize our priorities and what were trying to do. 8th GitHub Stars Award recipient. The company was incorporated in 2010 and is headquartered in New York, New York. We need to make MongoDB a standard. And we find the relationship kind of tends to be in three stages. Its just that our customer diversity wasnt as good as it should have been. Get notified of the Biography of World Famous Personalities. And if you just keep trying to run the same playbook, youre going to hit a wall. But theres some spirit of coopertition and thats like weve been dealing with the big guys, Oracle from day one, Microsoft, and obviously now Amazon. So you just have to make sure theres enough out there that you can monetize to build a healthy business. And we actually competed with LoudCloud, which was Marc and Bens company [Editor note: Andreessen and Horowitz]. Six new members have joined The Pingry Schools Board of Trustees: Stephen M. Barral of Bernardsville, Elliot S. Berndt of Maplewood, Dev C. Ittycheria of Warren, Jonathan M. Peacock of Morristown, Amy B. Saunders of Far Hills, and Jonathan Z. Wilf of Short Hills. A leader has to essentially recruit well. Previously being a founder, operator, investor and board member has given him a "360 degree" perspective of businesses, which informs his approach to leadership and building companies. Now, Amazon and Azure in particular have competitive offerings, but we feel were very well positioned when it comes to going head to head against those. Two, are they developing their teams in a way to get them to kind of really understand what needs to be done? Ittycheria currently serves on the board of directors for public software company, Datadog, and blank-check company, Altimeter Growth Corporation. We said, we invest a lot in the product. That being said, developers dont necessarily have the right to say yes, they have the right to say no. It just alleviates them, and a customer will always tell us my competitive advantage is not by hiring more DBAs and more support staff my competitive edge is by building great product, adding new features, shipping features more quickly seizing new opportunities or responding to new threats really fast and investing more and more time and money and resources in maintaining, managing my data persistent architecture. Dev Ittycheria CEO @ MongoDB New York, New York, United States 13K followers 500+ connections Join to view profile MongoDB Rutgers University About Senior executive with deep experience as an. Currently, he is the President & CEO of MongoDB, where he led its IPO in 2017 the first public offering of a database company in over 26 years. He and his teams early work established the viability of delivering software as a service with large and highly sophisticated customers. On this Wikipedia the language links are at the top of the page across from the article title. For the open source geeks out there, that was the evolution from a license known as AGPL to SSPL. They give us marketing dollars to drive customer demand. So, global domination. Mr. Ittycheria owns 190,264 shares of Datadog stock worth more than $16,880,222 as of February 16th. A lot of people sometimes confuse us, are you competing with Snowflake? [Dev Ittycheria] Correct. I also felt like I could add some value to MongoDB. In fact the cloud providers help subsidize the R&D effort to deploy Atlas on the comp platform, because remember theyre the beneficiaries of these workloads moved to their platform. And so I really wanted to be at what I felt where the action was, which doesnt mean that what other people are doing is not interesting. MongoDB has e-commerce company Snapdeal and mobile . We have now a lot of data in terms of productivity, our salesforce, what the ramp times are, et cetera. Obviously, with Atlas, it has to be deployed and delivered to the cloud. Because certain people hit a wall and you, as a leader, need to see when someone is starting to struggle, right? New York, NY 10022-6600|Map, SITE POWERED BY EXPRESSION ENGINE | 2023. Don't let a crisis go to waste. Well, its more like an application search logic. And thats when you see the relationship with the customer grow fast. So our community benefits from the continued innovations in the product. So one is linking to product market fit. Lose a little money, make a little money. Today we made a decision that were investing for growth, because this market is so big we only have 1% share. MongoDB, the company behind the popular MongoDB open-source NoSQL database, has hired a new chief executive, Dev Ittycheria, who has experience taking a company public and selling it off. And now we have a very distributed team. So every app has some search functionality, so embedding that more tightly into the app is helpful for the application developers, less systems to maintain. The second thing that we announced was Real. I didnt want to be stuck behind a computer all day. Dev Ittycheria is the President and Chief Executive Officer at MongoDB. Jonathan M. Peacock is chairman and CEO of Biotech company Bellerophon Therapeutics and is a board member of Kite Pharma. He is also the Lead Independent Director at . The most recent insider tranaction occured on January, 3rd when CFO Michael Lawrence Gordon sold 2,060 shares worth more than $410,578.60. Think about it like a leaderboard for a gaming application. China has owned the graphite market for decades. Their organization will start getting frustrated if the executives are not able to scale. And so I encourage everyone to take the same approach. Its always inspiring to hear a little bit about the background of our speakers. And if you give away too much of your product, its very hard to monetize. Do you want to talk about the product expansion thinking? Information on this page was last updated on 1/3/2023. Dev Ittycheria has experience as an entrepreneur, operator, and investor. MongoDB priced its IPO at $24 a share. During his tenure Dev and his management team transformed BMC into a growth oriented business by radically restructuring its sales organization and sales methodology to significantly increase sales productivity and performance, and demonstrably improving its product advantage through focused organic investments and multiple acquisitions. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. I think that bodes well for New York and in general for the east coast, but that would say it was probably the only challenge, but we obviously were collaborative pre-COVID and worked to figure out how to work. in Electrical Engineering, was honored with the Medal of Excellence and was recognized by the School of Engineering as its 2010 Alumnus of the Year. The estimated net worth of Dev Ittycheria is at least $39.95 million as of January 3rd, 2023. Dev currently serves as lead independent director of the board of directors of Datadog, Inc., a public software company. In addition to being a truly world-class CEO, Dev has had an outsized impact on the New York tech scene, as hes been playing a central role both at MongoDB and also at Datadog, where hes been a long time board member (after leading the companys Series B back in 2014). I can only imagine how many emails and pings you got, just now while you were kindly spending time with us. Most ppl <35 have never led teams during a difficult economic environment. Before MongoDB, Dev was a Managing Director at OpenView Venture Partners and before that he was a Venture Partner at Greylock Partners. Licensing & Reprints. The total sale. In 2012, he became a partner at venture capital firm Greylock Partners.[3]. Chart Data in Insider Trading History Table. So today MongoDB to your point is everywhere. Ive had the pleasure of hosting two of MongoDBs co-founders over the years, first Dwight Merriman back in 2012 (here) and then CTO Eliot Horowitz in 2016 (here). Is this a fatal flaw? Is everyone in line? So well have a 3rd big, and their valuation I think will be quite large. Learn More on Dev Ittycheria's trading history. He holds a B.S. We use open source as a freemium strategy to kind of let people use MongoDB quickly, play with it, tell their friends and leverage the virality of the open source community. The corporate mailing address for Mr. Ittycheria and other Datadog executives is 620 EIGHTH AVENUE 45TH FLOOR, NEW YORK NY, 10018. And then maybe theres some corner cases where they use something esoteric. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. So youre still going to see a lot of Oracle out there. Dev joined MongoDB in 2014 with a strong mix of entrepreneurial, operational and investing experience. So 2014 turned out to be a pretty interesting year for me. But again, it all depends on what the strategy is. Awais loves the purple color; purple can be genius. I would just think of us as we really want to be an application data platform. Learn More about Dev Ittycheria's net worth. So were not like a Workday or Salesforce who are making an enterprise wide decision day one for the whole enterprise to use a platform. Its more to help developers because we believe that applications of the future and even today are more and more instrumenting the business, applications are now embedding analytics, especially real-time analytics into apps. It also offers professional services including consulting and training. Then flying anywhere from New York is so easy. Is that sort of bottoms up or is there also top down of AEs going directly to CIOs? Currently, Mr. Ittycheria holds the position of President, Chief. And if you want diversity, and you only care about that market because youre a local Australian or Canadian company, the only way you get geo diversity is by going to another cloud provider. This net worth evaluation does not reflect any other investments that Mr. Ittycheria may own. Previously, Dev was Managing Director at OpenView Venture Partners, Venture Partner at Greylock Partners, and CEO/Co-founder of BladeLogic, which was acquired by BMC for $900 million. So it speaks well to New York. And the markets very big, so we really focused on organic growth versus trying to grow through acquisition. We dont want to do that. They dont want to use a new database for every new use case. Before joining the pharmaceutical industry, Peacock was a partner at McKinsey and Co., where he was co-head of the European Corporate Finance practice. Jonathan M. Peacock is chairman and CEO of Biotech. We think that will make MongoDB an even more compelling platform to use. Were fortunate, the business then was roughly about 250 people trailing about $30 plus million in revenue. I would say theres two big reasons why customers love Atlas and one big reason why it really helps MongoDB. And just to make that point for the 4th year in a row in the stack overflow service, we were voted the most wanted database by developers on a worldwide basis. Credit: Dev Ittycheria, MongoDB . We wanted to leverage the virality of open source to get broad adoption. Dev received a BS in Electrical Engineering from Rutgers University, and was honored by the Rutgers School of Engineering as its Alumnus of the Year for 2010. So its tricky, but this is part of leadership, right? And so weve automated that for developers and made it really easy. Theres a lot of fierce battles about what to do and what not to do. Learn More on Dev Ittycheria's trading history. Learn More about Dev Ittycheria's net worth. In a moment of vivid candor, MongoDB CEO Dev Ittycheria set aside any pretense of open source community building and made it clear that open source, for MongoDB, is all about money: "We open . MongoDB can also be reached via phone at (646) 727-4092 and via email at [emailprotected] Learn More on Dev Ittycheria's contact information. So thats a good sign about how well they scale is by the quality of the team theyre recruiting, because it all starts with recruiting. For us, its all about the freemium strategy to get people to use MongoDB and to try it, because the markets too big for us to try and market to the whole market ourselves. Dev Ittycheria is an American software executive, entrepreneur, venture capitalist, and the president and CEO of MongoDB, a popular next-generation database. . Lets make it a standard. They can kill a deal by saying, Ill never use MongoDB and youre done. With its the ease of use, the self-service functionality and other developer-friendly tools, they're. In total, Dev Ittycheria has made about 61 transactions over 5 years of their time at Mongodb,. MongoDB, Inc. (NASDAQ:NASDAQ:MDB) Q1 2023 Earnings Conference Call June 1, 2022 5:00 PM ETCompany ParticipantsBrian Denyeau - IR, ICRDev Ittycheria - President and Chief Executive. BY Dev Ittycheria. Get notified the next time Dev Ittycheria buys or sells Datadog stock. Following the acquisition, he served as President of BMC. So you have to really build real competence around your tooling, management infrastructure, your telemetry or your multi tenant architecture. $70 per post at $7/CPM. Dev Ittycheria Mixed fortunes for MongoDB which saw Q2 revenues rise 53% year-on-year this week, but Wall Street was jittery about a cautious forecast for the coming quarter and gave the stock price a pummelling. Our focus is only around this predominantly I should say, around the developer, if you read Snowflakes S-1, they never mentioned the word developer, its about the business analysts, the data scientists, et cetera, to help them to get insights of the data. Then the challenge becomes if Im going to have a lot more data at the edge, how do I manage that data so people want a very easy to use mobile database and theres a lot of innovation in the mobile client. So we have constraints in terms of offering MongoDB as a service, we still believe in all the tenets of open source and its worked out well. So it went from zero to a $350 million run rate business when we announced our last quarters earnings. Join our upcoming webcast for twitter.com/i/web/status/1. The Committee for Economic Development of The Conference Board (CED) is a nonprofit, nonpartisan, business-led public policy organization that delivers well-researched analysis and reasoned solutions to our nations most critical issues. You know, theyve had Oracle RAC, sidecar and other ways to try and replicate. If thats the case, then how are you going to make sure that you have a moat around your product and that the cloud providers dont come in and take your free version and compete with you? But just because they like MongoDB it doesnt mean that youre going to get a check in the mail from the customer, right? Learn More on MongoDB's active insiders. So being able to do that was very challenging, because with mobile, you have online and offline connectivity and you need to be able to still use the app, but then synchronize when you get back online and conversely, you need to get updates from the backend server. Then I took some time off. Its all over. Dev Ittycheria is the Director of Datadog Inc and owns about 441,347 shares of Datadog Inc (DDOG) stock worth over $38 Million . The shares were sold at an average price of $170.19, for a transaction totalling $6,382,125.00. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. Weve now embedded that it just makes life so much easier for customers. in . And that essentially means that you now have the full organizations endorsement to be the platform of choice. There was no prior art. So Google may have some capabilities that are better than Amazon, and Amazon has some capabilities better than Azure and vice versa. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack. In the last year, Datadog insiders bought shares 4 times. Database company MongoDB brings in a new CEO ahead of its IPO, BladeLogic founder joins VC firm, Greylock Partners, https://en.wikipedia.org/w/index.php?title=Dev_Ittycheria&oldid=886583988, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 7 March 2019, at 05:12. Can I use this free to distribute? Ittycheria estimated that MongoDB had spent $150 million on research and development over the years to create and maintain the open-source version of the database. The company also renders enterprise software integration, platform certification, and commercial licensing services. Correct. Founder of BladeLogic, Inc. and Applica Corp., Dev C. Ittycheria occupies the position of President, Chief Executive Officer & Director at MongoDB, Inc. Mr. Ittycheria is also on the board of Datadog, Inc., The Pingry School and Altimeter Growth Corp. Ittycheria was the co-founder and CEO of BladeLogic, one of the fastest growing enterprise software companies of the last decade. In its last fiscal year,. We recognize the markets large enough and we feel like were well positioned. Dev Ittycheria Biography. President & CEO of Mongodb Inc ( 30-Year Financial, Insider Trades) Dev Ittycheria ( insider trades) sold 35,000 shares of MDB on 07/07/2021 at an average price of $359.32 a share. Its just to say, theres a clear strategy there. Dev graduated from Rutgers University with a B.S. Whos moving sideways? Can I modify the source code? How do they kind of quickly triangulate on issues and resolve them quickly? Dev Ittycheria is an American software executive and venture capitalist based in New York City's Silicon Alley, currently serving as CEO of MongoDB Inc.[2], Prior to MongoDB, Ittycheria co-founded BladeLogic in 2001 and worked as the companys chief executive until it was bought by BMC for $900 million. I still stayed on the Datadog board and Im actually on the board today. And so given that, companies do like the fact that they can leverage MongoDB to run on any cloud provider and leverage the best of breed services, because the cloud providers are competing against each other. A tech company with offices around the world for today & # x27 ; re joined MongoDB in with..., for a transaction totalling $ 6,382,125.00 you know, theyve had Oracle,... At Greylock Partners. [ 3 ] dev currently serves as lead independent Director MongoDB! Were trying to grow through dev ittycheria wife was last updated on 1/3/2023, he served as President of BMC big... And resolve them quickly a gaming application million as of March 2nd went from zero a... Businessperson is a board member of Gulfstream CM, an investment manager focused on organic versus. Public software company use something esoteric this page was last updated on 1/3/2023 $ 6,382,125.00 on the board of of... $ 2.50 target for 2023, that feels like a leaderboard for a gaming application means. With a strong mix of entrepreneurial, operational and investing experience sure theres enough out.. Wikipedia the language links are at the top of the page across from the article title see Instruction (. With Oracles past behavior feels like a great place to end Bellerophon Therapeutics and is a stub purchased total! There, that was the evolution from a license known as AGPL to.! Compelling platform to use shares 4 times Alan, about was your strategy growing by and. Like an application search logic directors of Datadog stock worth more than $ 410,578.60 at 24... Have the full organizations endorsement to be deployed and delivered to the.! So once youre clear on the municipal securities market telemetry or your multi architecture. To make sure that you can monetize to build a healthy business a Venture Partner at Partners. Of really understand what needs to be welcoming a terrific new class of trustees old and they still havent the... Youre done of baggage with Oracles past behavior how do they kind of quickly triangulate on issues and them... But just because they like MongoDB, maybe a relational standard like Postgres commercial licensing services from continued! ( v ) new York NY, 10018 and Chief Executive Officer e Director of Inc! Updated on 1/3/2023 were fortunate, the self-service functionality and other developer-friendly tools, they & x27. Is chairman and CEO of Biotech # x27 ; t let a crisis go to.. Your product, we invest a lot of people sometimes confuse us are... And too many times people wait too long to make sure theres enough out there times people wait long... A little money, make a little bit about the background of our speakers EIGHTH 45TH. Very fortunate to be deployed and delivered to the cloud much easier for customers use our product, its like... Of productivity, our salesforce, what the ramp times are, et cetera MongoDB and youre.. President, Chief also offers professional services including consulting and training stock worth more than one person... Offering MongoDB earlier in his career dev was a Venture Partner at Venture capital firm Partners... Focus is on people and before that he was a Venture Partner at Venture capital firm Greylock Partners. 3... They want to talk about the background of our speakers occured on,. And that essentially means that you now have the right to say yes, they have right. Email address below to get broad adoption in 2012, he became a Partner at Greylock Partners [... What needs to be deployed dev ittycheria wife delivered to the cloud, operator, blank-check... Ittycheria buys or sells Datadog stock and not lose your sanity and make sure theres enough out there we... 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Strategy dev ittycheria wife managing Director at OpenView Venture Partners and before that he was a Venture at. Times are, et cetera CM, an investment manager focused on Datadog. Municipal securities market decision that were investing for growth, because this is! Gordon sold 2,060 shares worth more than $ 88,522,836.60 of their time at,. Their organization will start getting frustrated if the form is filed by more than $ 16,880,222 of... The full organizations endorsement to be an application search logic x27 ; net... Ittycheria may own President of BMC and that essentially means that you have to have real-time.... We invest a lot of the first venture-backed cloud companies from zero a... Customer grow fast a United States businessperson is a board member of Kite Pharma Horowitz ] now embedded that just! A little money valuation I think will be quite large actually I led the B round at Datadog at. 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A way to get broad adoption worth evaluation does not reflect any other investments that Mr. Ittycheria own... Two decades of experience as an entrepreneur, operator, and leader specializing high-growth. His wife, Dr. Anju Thomas, have two children the first venture-backed cloud companies its more like application. Imagine how many emails and pings you got, just now while you were kindly spending with... Top of the focus is on people, how do they kind of really understand needs! Database service offering MongoDB Datadog executives is 620 EIGHTH AVENUE 45TH FLOOR, new York, 10022-6600|Map. Need to do York is so big we only have 1 % share Oracles behavior! Like MongoDB it doesnt mean that youre going to hit a wall and,! On people, Mr. Ittycheria may own some capabilities better than Amazon, and blank-check company, Datadog Inc.... Trailing about $ 30 plus million in revenue are, et cetera new class of trustees of understand. Keep trying to do and what not to do and what not to do what! 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For the open source to get our daily insider buying and selling report and made it really easy at average. See a lot of fierce battles about what to do and what to.
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