Learn More on Dev Ittycheria's salary. 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. A lot of people sometimes confuse us, are you competing with Snowflake? All these things matter in terms of building a real cloud service, and so thats something you want to think about. And they said, this is crazy. How do you keep it together and not lose your sanity and make sure that you have time to think? And then we review all the projects and get people to rank all the new investments, as well as all the existing investments are doing. We partner with them on deals. Dev Ittycheria is the President and Chief Executive Officer at MongoDB. Atlas, which is your database as a service offering, was launched in late 2016. Datadog, Inc. provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. But what people forget is that the first thing people dont say is open source or not, they say, does this technology solve my problem? Get notified the next time Dev Ittycheria buys or sells MongoDB stock. And theyve actually helped subsidize and drive a lot of marketing, right? Most recently, Dev Ittycheria sold 37,500 shares of the business's stock in a transaction on Thursday, February 10th. He also serves on the new stadium development team, set to open in 2016. And weve seen a lot of high profile outages, and so they worry about things like, Am I going to get the diversity?. Datadog can also be reached via phone at 866-329-4466 and via email at [emailprotected] Learn More on Dev Ittycheria's contact information. So it just makes it so much easier to use MongoDB, to build applications, to do it quickly and to do it more powerfully. The community really appreciates it as well. And then maybe over time, maybe even years, then all of a sudden say, You know what? And then you keep adding more stuff to it, like more features, more product expansion. Your California Privacy Rights/Privacy Policy. Dev Ittycheria joined MongoDB as President and CEO in 2014 and was formerly co-founder, president and CEO of BladeLogic. Dev Ittycheria: Yeah and actually the irony is like when I was a VC in the early posts like the 2008 crash, a lot of people said, "Hey, we want to get away from these expensive sales and distribution models because we want to go with a high velocity kind of sales mile that's cheaper and easier." I would argue actually the sales challenge . How are demographic shifts creating long-term challenges for labor supply in the US? Itd be foolish to try and optimize for profitability. I would say theres two big reasons why customers love Atlas and one big reason why it really helps MongoDB. My philosophy in life has always been, always be the student of the game, not the master of the game. He and his teams early work established the viability of delivering software as a service with large and highly sophisticated customers. Learn More on Dev Ittycheria's trading history. 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. 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. Developer speed is a proxy for innovation The supercloud is transforming the role of developers. 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. Prior to MongoDB, Ittycheria was the Co-founder & CEO of BladeLogic and the President of BMC Software. Oracle is the most hated vendor in the tech industry today, but theres still tons of Oracle because its very hard to unravel every Oracle app that was built. We make some decisions about, Are we going to be profitable? But before you would run, lets say app A on one cloud, app B on another and app C in another. 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. It could be the line of business. And so its not a secret, but since weve gone public three and a half years ago, weve had six C level changes, right? Were all cheering for Mongo, and what a remarkable success story. Prior to that, Dev spent the early part of his career in the telecom industry focused on developing, marketing and managing advanced broadband data services for large enterprise customers. Sometimes theres a little bit of blood on the walls. So we really financed the business through customers and we ended up going public in 2007. Well, its more like an application search logic. 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. Copyright 2023 Rutgers, The State University ofNewJersey, Stay Connected with the Department of Electrical & Computer Engineering, Department of Electrical & ComputerEngineering, New classes and Topics in ECE course descriptions. MongoDB has also had a particularly impressive ride in public markets under your stewardship. Then you find adjacencies to expand into. After co-founding the business in 2001, he went on to take the company public in 2007, and then sold it to BMC Software in 2008 for approximately $ 900 million. The most successful open source companies go after big markets, because by definition, you cant monetize all your usage. Dont assume that just because youre successful in the past, you can be successful in the future because your business is changing. Ittycheria and his wife, Dr. Anju Thomas, have two children. SAS remains strongly committed to providing the whole employee experience - meaningful work And what are the things that I need to be able to do by that time frame? MongoDB unveiled a new set of products along with a new strategy on Tuesday, setting the stage for the company to explore more competitive frontiers in data. Image: Joao-Pierre S. Ruth. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. There are 4 older and 12 younger executives at MongoDB Inc. Peacock is a chartered accountant. Well, if youre a customer in Australia or youre a customer in Canada, Amazon, or say Azure may only have one region. I need to make sure I have the right people in the organization, especially at the executive team to go execute on that strategy. And so I encourage everyone to take the same approach. Theres a lot of fierce battles about what to do and what not to do. That company ended up hitting a wall because 70% of our customers were dot-coms when the bubble burst in 2000 and the venture capital dried up, but we actually had a real business. Is this a fatal flaw? He currently serves as the President & CEO of MongoDB. Dev Ittycheria Biography. Join our upcoming webcast for twitter.com/i/web/status/1. Dev Ittycheria -- President and Chief Executive Officer Thanks, Brian, and thank you to everyone for joining us today. Obviously, with Atlas, it has to be deployed and delivered to the cloud. Dev Ittycheria. 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 . And so itd be foolish to have close to a billion dollars in the bank. For Search, what we found was a lot of customers were dual homing data to both MongoDB and say Elastic. What does that look like? And then we triage which ones do we want to invest in new, which product is going well, which products were to shut down? Dev graduated from Rutgers University with a B.S. Elliot S. Berndt will serve as president of the Pingry School Parents Association (PSPA) for the 2015-16 school year. The company went public at a $1.2 billion evaluation and today it has a $18.2 billion market cap, wonderful to see and congratulations on all of this. No ones going to use your product. For the open source geeks out there, that was the evolution from a license known as AGPL to SSPL. If you think about mobile, everyones going with a mobile first strategy, especially with the advent of 5G, when network speeds will be hundred times faster, at least we hope than what we get with LTE or 4G. Thank you for having me. Its just to say, theres a clear strategy there. Youre going to hire great engineers, but hiring a great CFO or a great head of sales because there hasnt been this generational set of companies in New York where people have developed their skills and built their experience in New York city. And then maybe theres some corner cases where they use something esoteric. * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). Ittycherias many leadership roles have led to five IPOs and two significant acquisitions. Remarkable. The company is growing at a 40% rate and doing remarkably well, Jim Cramer said. MongoDB was founded by developers for developers to provide a database designed for today's modern applications. And for additional context, thats a current controversy around Elastic and some stuff like gotten themself tripped up into this whole conversation. 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. 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. With its the ease of use, the self-service functionality and other developer-friendly tools, they're. There was no prior art. This net worth evaluation does not reflect any other investments that Mr. Ittycheria may own. Like what can they do, how do you incorporate or partner with them? How do they kind of measure the success of the business? The second big challenge is that relational databases are not designed for scale. So its gone from zero to being almost half of the companys revenue. Yeah. The company describes DocumentDB as a "fast, scalable, and highly available document database that . A leader has to essentially recruit well. In 2012, he became a partner at venture capital firm Greylock Partners.[3]. Following this acquisition, Dev served as President of BMC, overseeing a business with $1.4 billion in annual revenue. Ittycheria was named Ernst & Young Entrepreneur of the Year for New England (2004), and has written about entrepreneurship for Forbes. Ittycheria and his wife, Dr. Anju Thomas, have two children. If developers dont use our product, we dont have a business. MongoDB is designed from the ground up to be highly scalable. And so there was a dual headquarter, but very quickly we moved the center of gravity to New York and thats served us well. 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. Leading database company MongoDB has appointed IT veteran Dev Ittycheria as President and CEO. Were talking about a company thats now 44 years old and they still havent solved the scalability problem. 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. In total, Dev Ittycheria has made about 61 transactions over 5 years of their time at Mongodb,. It was this whole complexity of open source in cloud vendors and for anyone thats listening to this, for whom this discussion is not completely clear, the concern all along has been that cloud vendors can just take the open source code and run a competitive version of the product without cooperation from the original vendor. So imagine if we had three or 5% share, wed be a very, very large company. The second thing that we announced was Real. (The 2016 IoT Landscape), Growing Pains: The 2018 Internet of Things Landscape, The evolution of enterprise tech in New York, MongoDBs database as a service offering, Atlas, Being a student of the game rather than a master of the game. The second thing is the database market has a lot of baggage with Oracles past behavior. Here is MongoDB President & CEO Dev Ittycheria. In the last year, insiders at the sold shares 34 times. Thats just what I seem to really get excited about. For access to live and exclusive vide. But ultimately we all kind of use that process to galvanize our priorities and what were trying to do. Think about a financial app. This chart shows Dev Ittycheria's buying and selling at MongoDB by year and by quarter. Ittycheria serves on the board of Datadog, a public software company. Wilf and his wife Rachel have one child. And then I became a VC for a while and spent some time on the West Coast with Greylock and then on the East Coast with OpenView. But just because they like MongoDB it doesnt mean that youre going to get a check in the mail from the customer, right? Saunders and her husband Brent support Community Hope, which provides housing and support services to veterans and individuals struggling with mental illness. Now Amazons trying to make some extensions with Aurora to kind of make relational databases suck less, but they fundamentally have scalability problems. Find where they have the most pain, typically the more the pain, the more the dollars are available, then the more attention to senior management. In the last year, insiders at the sold shares 60 times. 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. We dont have to manage two systems, learn two platforms, etc. Its fascinating for all of us who are looking at similar types of companies getting built. Whats good for us as a company is that prior to Atlas, we had our free version and our paid version, and we had a classic open source problem where you have to figure out where the paywall is, right? SAS remains strongly committed to providing the whole employee experience - meaningful work Well, thank you, man. Yeah, so I think you have to really understand customer buying behavior because even if the CIO says, I want to standardize on MongoDB. They dont have the time or the resources to replatform every app onto MongoDB. How do you arbitrage and then how has it evolved over time? Dev Ittycheria is the Director of Datadog Inc and owns about 441,347 shares of Datadog Inc (DDOG) stock worth over $38 Million . Your email address will not be published. So as data volumes grow, their architecture has limitations. You know, theyve had Oracle RAC, sidecar and other ways to try and replicate. So its allowed us to build a real business, allowed us to invest back into the product. "The top-ranked employer for workers older than Generation Z was MongoDB, which achieved an average rating of 4.89. 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.Prior to MongoDB, Ittycheria co-founded BladeLogic in 2001 and worked as the company's chief executive until it was bought by BMC for $900 million. So our business starts and stops with developers. Sure. And today were approaching 4,000 people and about $700 million in run rate. Its almost like watching someone swim and is starting to struggle when theyre maybe starting to keep their head above water, you can start seeing the decisions theyre making. This article about a United States businessperson is a stub. I think its absolutely fascinating and super impressive. Literally there is not one country, once city in the world, I dont think someones not using MongoDB. Dev C. Ittycheria Lead Independent Director, Datadog, Inc. Dev C. Ittycheria founded BladeLogic, Inc. and Applica Corp. But why dont we go directly to the CIO because everyone knows Mongo, right? Theyve done a fantastic job. The shares were sold at an average price of $170.19, for a transaction totalling $6,382,125.00. You have a multi-cloud offering now, right? president and CEO Dev Ittycheria is scheduled to be on CNBC's "Mad Money," which airs Monday at 6 p.m. EDT. And you see people from all walks of life. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. The shares were sold at an average price of $199.96, for a transaction totalling $7,874,824.72. So therell be another big data driven tech company in New York. Learn More on Dev Ittycheria's trading history. in . Balanced lives continue to make great business sense. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. And thats a pretty difficult challenge for developers. Currently, he is the President & CEO of MongoDB, where he led its IPO in 2017the first public offering of a database company in over 26 years. Credit: Dev Ittycheria, MongoDB . In fact, my predecessor at MongoDB was actually based out of California. And if you give away too much of your product, its very hard to monetize. So I would say one of the challenges in New York though, and I think its changing now with the success of all these companies is hiring senior level talent. For more information on howCEDcollects and uses personal data, please visit ourprivacy policy. Currently, Mr. Ittycheria holds the position of President, Chief. We have a great team and Im very fortunate to be able to work with a very talented team and be able to do what we do every day. Then flying anywhere from New York is so easy. So I started my first company in 98, it was a first generation cloud computing company, actually as a company called Applica, which then merged with another company called Breakaway. Yeah, its a good question. Their organization will start getting frustrated if the executives are not able to scale. Those who understand that ruthlessly prioritizing, making hard choices & learning to do more with less are essential leadership skills that will last a lifetime. You shouldnt just be open source for the sake of being open source. Information on this page was last updated on 2/13/2023. Prior to this, he was chief financial officer of Amgen based in California. Think about it like a leaderboard for a gaming application. Ittycheria was the co-founder and CEO of BladeLogic, one of the fastest growing enterprise software companies of the last decade. What I mean by that is you constantly have to work at your trade craft. Class of 1978, in a prepared statement. * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). The most recent insider tranaction occured on February, 13th when CEO Olivier Pomel sold 85,637 shares worth more than $7,075,328.94. We bought that just to kind of get some mass customer momentum around atlas. Were enabling people to use the power of our query language to create data not just from MongoDB, but from other sources. Were investing for growth, but theres obviously some limit as to how much you can lose so that creates essentially our expense envelope in terms of how much youre going to invest. And which is why it grew so quickly. He brought to MongoDB a mix of entrepreneurial, operational and investing experience: He was a managing director at OpenView Venture . Very good. Dev is registered to vote in Somerset County, New Jersey. Learn More on Dev Ittycheria's contact information. 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