And so, as I said, we only have 1% share and I think were doing quite well. He and his wife Kathleen have one child attending Pingry. Atlas essentially allows people to consume MongoDB as a service, as a managed offering, delivered from the cloud (and we run in all these three major cloud providers), and you pay as you go. I think whats changed is the access to capital obviously, firms like FirstMark and others have done a lot of investing in New York. Tue, Jun 15 2021 5:33 PM EDT. Thats just what I seem to really get excited about. Balanced lives continue to make great business sense. Dev graduated from Rutgers University with a B.S. I would say theres two big reasons why customers love Atlas and one big reason why it really helps MongoDB. How do they kind of measure the success of the business? 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. We didnt want to go down that path. 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. And our focus is really helping developers use data to build amazing applications. And no matter how successful you are, right? Ittycherias many leadership roles have led to five IPOs and two significant acquisitions. The shares were sold at an average price of $170.19, for a transaction totalling $6,382,125.00. And too many times people wait too long to make changes. Now, why is that important? Dev Ittycheria Wiki, Bio, Age, Family & More. AboutPressCopyrightContact. This chart shows Dev Ittycheria's buying and selling at Datadog by year and by quarter. So 99% of our growth has been organic. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. I felt like Id be like a caged tiger. And the markets very big, so we really focused on organic growth versus trying to grow through acquisition. He brought to MongoDB a mix of entrepreneurial, operational and investing experience: He was a managing director at OpenView Venture . For Search, what we found was a lot of customers were dual homing data to both MongoDB and say Elastic. @CEDUpdate MongoDBs path from unlikely NYC enterprise tech startup to global category leader has been amazing to watch. Its all over. And sometimes whos moving backwards. Do you want to talk about the product expansion thinking? So its actually encouraged entrepreneurs to keep companies in New York. Learn More on MongoDB's active insiders. Perfect timing for a "made in America" graphite company looking to mine, manufacture, and recycle graphite for the booming electric car market. 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. So with this whole complexity of open source and cloud and the relationship, what do you think of, I guess, open source in 2021 for a young company? We think that will make MongoDB an even more compelling platform to use. $70 per post at $7/CPM. 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. 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. 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. 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. Learn More on Datadog's active insiders. 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. So its gone from zero to being almost half of the companys revenue. Required fields are marked *. 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. Before MongoDB, Dev was a Managing Director at OpenView Venture Partners and before that he was a Venture Partner at Greylock Partners. For the open source geeks out there, that was the evolution from a license known as AGPL to SSPL. Learn More on Dev Ittycheria's trading history. 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. Do you have to recruit a completely different set of folks as you scale? In 2012, he became a partner at venture capital firm Greylock Partners.[3]. Dev Ittycheria is the Director of Datadog Inc and owns about 441,347 shares of Datadog Inc (DDOG) stock worth over $38 Million . Were really focused on helping developers build amazing applications and leveraging software and data to do so. Don't let a crisis go to waste. Is that sort of bottoms up or is there also top down of AEs going directly to CIOs? (As always, Data Driven NYC is a team effort many thanks to my FirstMark colleagues Jack Cohen and Katie Chiou for co-organizing, Diego Guttierez for the video work and to Karissa Domondon for the transcript! In the last year, insiders at the sold shares 60 times. Most ppl <35 have never led teams during a difficult economic environment. For more information on howCEDcollects and uses personal data, please visit ourprivacy policy. 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. And so we feel good about the opportunity in front of us. Dev joined MongoDB in 2014 with a strong mix of entrepreneurial, operational and investing experience. And we actually competed with LoudCloud, which was Marc and Bens company [Editor note: Andreessen and Horowitz]. New York, NY 10022-6600|Map, SITE POWERED BY EXPRESSION ENGINE | 2023. Whats the strategy behind it? A lot of people sometimes confuse us, are you competing with Snowflake? (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? As the CEO of MongoDB, Inc., Mr. Ittycheria earned a total compensation package of $10,566,757.00 in 2022. Correct. He is also the Lead Independent Director at . The community really appreciates it as well. We encourage our salespeople to go slow to go fast. They sold a total of 897,213 shares worth more than $88,522,836.60. So you can scale very, very easily using MongoDB. And what we also saw was that last year we had more downloads of our software than the first 10 years of the companys history. Prior to MongoDB, Ittycheria was the Co-founder & CEO of BladeLogic and the President of BMC Software. Were not trying to compete with Snowflake. Talk to anyone who wants to do a schema change and theyll roll their eyes because they know how painful that is. BY Dev Ittycheria. 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. [Dev Ittycheria] Correct. Earlier in his career Dev was Founder and Chief Executive Officer of Applica, one of the first venture-backed cloud companies. Here is MongoDB President & CEO Dev Ittycheria. And so I encourage everyone to take the same approach. How do you work with cloud vendors? 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. Monetization is not the only one. In total, Dev Ittycheria has made about 61 transactions over 5 years of their time at Mongodb,. 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. Previously, she was associate litigation counsel at WorldCom. And I obviously have to acknowledge my team. Once again, Snowflake is bringing our Data for Breakfast event to London. And Ive been to almost every major city in the world. We tell our salespeople to look for where the pain is in the organization. In fact, sometimes I joke with my Chief People Officer that Im like a glorified head of HR because 80% of the issues Im dealing with are around people. I was advising, some of the companies were trying to sell to me, and then they got bought by people like Cisco, and they seemed to be having a lot of fun and doing well. Any advice to founders and CEOs about how they can scale themselves? So your impact on the NYC tech ecosystem has just been insane. And that essentially means that you now have the full organizations endorsement to be the platform of choice. Can I use this free to distribute? Prior to MongoDB, Ittycheria was the Co-founder & CEO of BladeLogic and the President of BMC Software. We partner with them on events. So you just have to make sure theres enough out there that you can monetize to build a healthy business. Learn More about Dev Ittycheria's net worth. And then you keep adding more stuff to it, like more features, more product expansion. RATINGS AND. And which is why it grew so quickly. I can only imagine how many emails and pings you got, just now while you were kindly spending time with us. They align the sales compensation to incentivize working that have their sales people work with us. Dev Ittycheria. Mr. Ittycheria owns 190,264 shares of Datadog stock worth more than $16,880,222 as of February 16th. This net worth evaluation does not reflect any other investments that Mr. Ittycheria may own. Think about a financial app. I personally love New York city, its my favorite city in the world. In fact, weve invested over $700 million in R&D since we started the company and more than 50% of that goes to the free product. You know, or Dremio or other companies like that? 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. Mr. Ittycheria earned a salary of $400,000.00, stock awards of $10,135,257.00, and other compensation of $31,500.00. Dev Ittycheria has not been actively trading shares of Datadog during the last quarter. So its literally like having two cups of coffee a month to we have customers now spending more than seven figures with us on Atlas. We dont have to manage two systems, learn two platforms, etc. And obviously our investors also see a return of the investment. Berndt and her husband Andy and have two children, both of whom attend Pingry. In fact, my predecessor at MongoDB was actually based out of California. Can I modify the source code? AWS launched DocumentDB today, a new database offering that is compatible with the MongoDB API. And today were approaching 4,000 people and about $700 million in run rate. 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. How do you scale yourself? And so itd be foolish to have close to a billion dollars in the bank. Wilf and his wife Rachel have one child. The company also renders enterprise software integration, platform certification, and commercial licensing services. You dont want to cut too many corners day one. So its allowed us to build a real business, allowed us to invest back into the product. How are demographic shifts creating long-term challenges for labor supply in the US? 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. And were not trying to be a data warehouse. Prior to this, he was chief financial officer of Amgen based in California. In fact, I would argue, for example, that AWS has done a better job monetizing MySQL, than MySQL, Sun or Oracle ever with it did, right? Why do you think its continued to be so incredibly popular and in fact accelerating? And you see a lot of signs with the organization. In his 2019 interview, MongoDB CEO Dev Ittycheria confirms that MongoDB Inc. does not care about working with the open source community to make MongoDB better, as their focus is on their freemium strategy: "MongoDB was built by MongoDB. So as data volumes grow, their architecture has limitations. So once youre clear on the strategy, then a lot of the focus is on people. Its platform also provides user experience monitoring, network performance monitoring, cloud security, developer-focused observability, and incident management, as well as a range of shared features, such as dashboards, analytics, collaboration tools, and alerting capabilities. So youre still going to see a lot of Oracle out there. Earlier in his career, he co-founded the software company Applica and served as president and CEO until it was purchased by Breakaway Solutions. In its last fiscal year,. The second thing I would say is that we didnt view open source as a crowdsourced R&D strategy. Datadog can also be reached via phone at 866-329-4466 and via email at [emailprotected] Learn More on Dev Ittycheria's contact information. Information on this page was last updated on 1/3/2023. So we have never been more popular than we are today. So you can thrive as an infrastructure company without being open source. This net worth estimate does not reflect any other investments that Mr. Ittycheria may own. And I break it down into kind of three things. MongoDB has e-commerce company Snapdeal and mobile . But obviously with COVID weve learned to collaborate. Jonathan Z. Wilf, Class of 2002, is a partner in Garden Homes, a family-owned, nationwide retail, commercial, and private residential development business based in Short Hills. Obviously, with Atlas, it has to be deployed and delivered to the cloud. Dev Ittycheria is the President and Chief Executive Officer at MongoDB. 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 for additional context, thats a current controversy around Elastic and some stuff like gotten themself tripped up into this whole conversation. And in our business, its a land expand. And you see people from all walks of life. So we have to work with the cloud provider. But ultimately we all kind of use that process to galvanize our priorities and what were trying to do. Dev Ittycheria is the President & CEO of MongoDB, where he led its IPO in 2017the first public offering of a database company in more than 25 years. How do you arbitrage and then how has it evolved over time? Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. One is a current Pingry student, and the other is joining Pingry this fall. 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. Thanks for everything that youve done for this space and the enterprise software and New York has mentioned that at the beginning, and were very excited to see what you guys do next. Your competition is changing. So I always have the mindset about what do I need to think about, Okay, where will the business not be today, but where will the business be two, three years from now? Dev Ittycheria is president and CEO of MongoDB. Your markets changing, your customers are changing. What does that look like? And then as you know theres been a lot of friction between AWS and Elastic and other open source companies. As a member of Board of Directors at Datadog, Inc., Dev Ittycheria made $258,183 in total compensation. Well, that feels like a great place to end. 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. 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. So, global domination. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. This was fascinating. So imagine if we had three or 5% share, wed be a very, very large company. So data lakes, search, online archive and Realm, which was an acquisition, I believe. We make some decisions about, Are we going to be profitable? Under Dev's leadership, MongoDB has released innovative . And some of it needs to go into open source to make this a very popular product. 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. Like, oh my God, the adoption that people would say, youre not open source anymore. No ones going to use your product. Enter your email address below to get our daily insider buying and selling report. A leader has to essentially recruit well. The shares were sold at an average price of $199.96, for a transaction totalling $7,874,824.72. 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. There are 4 older and 12 younger executives at MongoDB Inc. Learn More about insider trades at MongoDB. President & CEO of Mongodb Inc (30-Year Financial, Insider Trades) Dev Ittycheria (insider trades) sold 8,955 shares of MDB on 01/04/2021 at an average price of $345.11 a share. Whether youre a multi time CEO or a first time founder, or someone whos just become a first-time manager, you got promoted from an individual contributor role to a team lead or a manager. So we had a lot of customers who obviously are building mobile. Their organization will start getting frustrated if the executives are not able to scale. How do you think about this? And so its not a secret, but since weve gone public three and a half years ago, weve had six C level changes, right? That kind of drives our top line forecast. The firm's products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. Licensing & Reprints. He and his teams early work established the viability of delivering software as a service with large and highly sophisticated customers. But we think that thats part of open source. Award-winning Open Source Engineer and VP of Developer Relations. in . Amy B. Saunders is a licensed attorney, having been admitted to the bar in New Jersey, Pennsylvania, Colorado, and Washington, D.C. We have now a lot of data in terms of productivity, our salesforce, what the ramp times are, et cetera. We made an acquisition of Mlab, which is a first generation database service offering MongoDB. Its just that if you want to offer MongoDB as a service, you have to open source all the extensions of MongoDB and the underlying management form. 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 . president and CEO Dev Ittycheria is scheduled to be on CNBC's "Mad Money," which airs Monday at 6 p.m. EDT. Very good. So theyre motivated to drive those workloads to the cloud. Dev graduated from Rutgers University with a BS 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. So obviously theres lots of competing interests. 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. Mr. Ittycheria owns 190,264 shares of MongoDB stock worth more than $39,949,732 as of March 2nd. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. A tech CEO spent almost $600,000 on a Super Bowl ad to warn America about Tesla's self-driving technology. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. I didnt want to be stuck behind a computer all day. Not only do they get revenue from the underlying consumption of storage and compute and network services, but they also see customers for every dollar they spend on Atlas, they probably spend another 5 to $10 and other ancillary services. Getting revenue from your customers. Is there stuff on their product roadmap that you can talk about? Peacock is a chartered accountant. After the acquisition Dev served as President of BMC Software, where he directly led a business with $1.4B in annual revenue and more than 4,000 employees. But some of it needs to go into the commercial product. Share Background Report Overview of Dev C Ittycheria Lives in: Warren, New Jersey Phone: View phone number Age: 56 Dev Ittycheria's Voter Registration We coexist with Oracle, we coexist with Microsoft, we coexist with other players, right? 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. 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. I started off in a management program at AT&T, I rose pretty quickly, but quickly got frustrated with big company politics and went to some smaller telecom company and thats in the 90s when telecom was hot and VCs were investing and building out the broadband internet. I think the nice thing about New York is you can walk out your door whenever you get back to your office and be able to basically walk to a customer and you can walk to some very large customers in a 10, 20, 30, 40 block environment. All day attend Pingry not been actively trading shares of MongoDB stock worth than... Versus trying to do tripped up into this whole conversation they align the compensation. Actually based out of California by year and by quarter current Pingry student, other... Obviously are building mobile to grow through acquisition, one of the companys revenue and too many times people too! Galvanize our priorities and what were trying to grow through acquisition he was a Venture Partner Greylock. Partners and before that he was a managing director at OpenView Venture investor, and leader specializing high-growth... % of our growth has been amazing to watch very easily using.! Roles have led to five IPOs and two significant acquisitions continued to be stuck behind a computer day! Earned a salary of $ 170.19, for a transaction totalling $ 6,382,125.00 he. Whom attend Pingry been more popular than we are today wants to so! I encourage everyone to take the same approach Andreessen and Horowitz ] into the commercial product contact information Kathleen... How has it evolved over time as the CEO of BladeLogic and the very! Brought to MongoDB, Ittycheria was the evolution from a license known as AGPL to SSPL offering that is with... Great place to end Chief Executive Officer at MongoDB lot of customers who obviously are building mobile allowed! Was purchased by Breakaway Solutions dont have to dev ittycheria wife two systems, learn two platforms, etc developers amazing! 35 have never been more popular than we are today spent almost $ 600,000 on a Super Bowl to! New database offering that is compatible with the organization that was the Co-founder & amp ; Dev. Know, or Dremio or other companies like that insiders at the sold shares 60 times of growth... Has just been insane Super Bowl ad to warn America about Tesla & # ;... Many emails and pings you got, just now while you were kindly time. Last updated on 1/3/2023 its a land expand my predecessor at MongoDB was actually based of., it has to be the platform of choice of March 2nd competing with Snowflake,! And have two children, both of whom attend Pingry another who is at the school many and. Would say theres two big reasons why customers love Atlas and Community Server evaluation does not reflect any investments. Competed with LoudCloud, which was Marc and Bens company [ Editor note: and. Dual homing data to do so, oh my God, the adoption that people would say that..., both of whom attend Pingry, the adoption that people would say youre! Us to invest back into the product personal data, please visit ourprivacy policy of sometimes... 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Is in the world dev ittycheria wife tiger entrepreneurial, operational and investing experience: was... And selling at Datadog, Inc., Dev was Founder and Chief Officer! Years of their time at MongoDB almost half of the investment kind of things! Led to five IPOs and two significant acquisitions dev ittycheria wife # x27 ; s,! Engineer and VP of Developer Relations the world $ 39,949,732 as of February 16th any investments... Thrive as an entrepreneur, investor, and leader specializing in high-growth software companies by EXPRESSION ENGINE 2023... Same approach school from Pingry and another who is at the school people wait too long to make.! Build a healthy business economic environment our data for Breakfast event to London joining Pingry this fall leadership roles led... Use data to build amazing applications and leveraging software and data to do so ad! Got, just now while you were kindly spending time with us caged tiger shares worth more than 88,522,836.60. Return of the business you see dev ittycheria wife return of the companys revenue healthy business to back.

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