He currently serves as the President & CEO of MongoDB. You can help Wikipedia by expanding it. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. Dev Ittycheria Biography. So it speaks well to New York. And I obviously have to acknowledge my team. For Search, what we found was a lot of customers were dual homing data to both MongoDB and say Elastic. . The Committee for Economic Development of The Conference Board (CED)uses cookies to improve our website, enhance your experience, and deliver relevant messages and offers about our products. Required fields are marked *. Youve done some fascinating things as an entrepreneur, as a CEO, also as a VC, although more briefly if you could give us a couple of minutes on your story, thatd be awesome. That average rating was still higher than the top employers for Gen Z." Regardless of the generation you're a part of, MongoDB is a place that cultivates inclusion and provides boundless opportunity for . Credit: Dev Ittycheria, MongoDB . $70 per post at $7/CPM. Then we said the developer in New York city, a developer in Silicon valley or a developer in Shanghai or Mumbai is not going to care whether this was an OSI approved license. And we knew that we solved a very important problem. But the U.S. just added graphite to a list of super-critical minerals "essential for America's National Defense." Now Amazons trying to make some extensions with Aurora to kind of make relational databases suck less, but they fundamentally have scalability problems. 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. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. There was no prior art. Is that sort of bottoms up or is there also top down of AEs going directly to CIOs? Then you find adjacencies to expand into. Ittycheria was the co-founder and CEO of BladeLogic, one of the fastest growing enterprise software companies of the last decade. Author of various open-source dev-tools and software libraries used by millions of developers worldwide. Tech. So if you constrain the paywall too much, then you have very little adoption. Dev Ittycheria has not been actively trading shares of Datadog during the last quarter. If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. February 13, 2023. So you have to think through your licensing around how you plan to license your product and make it simple for customers so that its not confusing to them or to the market about what your intentions are. 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. Developer speed is a proxy for innovation The supercloud is transforming the role of developers. Your competition is changing. Berndt is also a volunteer and board member with several other educational organizations. Here is MongoDB President & CEO Dev Ittycheria. 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. 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. And so, as I said, we only have 1% share and I think were doing quite well. And theyve actually helped subsidize and drive a lot of marketing, right? Dev founded his first technology company in 1998, and his leadership and board roles have resulted in 5 IPOs and 2 significant acquisitions. CNBC Councils. (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? 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. First name: Dev Last name: Ittycheria Profile image: Profile summary: 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. Learn More on MongoDB's active insiders. Datadog's insider roster includes Kerry Acocella (General Counsel), Amit Agarwal (Insider), Adam Blitzer (COO), Michael Callahan (Director), Mrmelle De Madre (Insider), Dan Fougere (CRO), Dev Ittycheria (Director), Matthew Jacobson (Director), Laszlo Kopits (General Counsel), Alexis Le-Quoc (Insider), David Obstler (CFO), David Obstler (CFO), Olivier Pomel (CEO), Julie Richardson (Director), Shardul Shah (Director), and Sean Walters (CRO). And so I said, why dont I do 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. As a result of this transformation the company was the clear leader in systems management by far outperforming all relevant competition on the salient financial metrics and overall stock performance. So its tricky, but this is part of leadership, right? We bought that just to kind of get some mass customer momentum around atlas. And people really wanted to maintain their cash comp, but then also have big equity. In his past career Mr. Ittycheria was President & Chief Executive . 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. But we think that thats part of open source. Correct. As a member of Board of Directors at Datadog, Inc., Dev Ittycheria made $258,183 in total compensation. 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. And so I encourage everyone to take the same approach. The most successful open source companies go after big markets, because by definition, you cant monetize all your usage. So we had a lot of customers who obviously are building mobile. Theres many reasons to do open source. Were talking about a company thats now 44 years old and they still havent solved the scalability problem. And which is why it grew so quickly. And then you keep adding more stuff to it, like more features, more product expansion. Most Popular. They purchased a total of 1,150,006 shares worth more than $79,339,605.34. Join our upcoming webcast for twitter.com/i/web/status/1. What are the key drivers behind that? Well, I think you first have to ask yourself, why are you trying to be an open source? Always have the attitude of I have more to learn, and that to me has paid massive dividends. MongoDB, Inc. engages in the development and provision of a general-purpose database platform. But at the time it was very hard to recruit people. And we also think therell be a lot of free usage of MongoDB out there. We think it would be very unfair for someone to just pick a free version, make money off it and not give anything back. Dont assume that just because youre successful in the past, you can be successful in the future because your business is changing. First, you kind of land a workload or a few workloads. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. 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. I would say theres two big reasons why customers love Atlas and one big reason why it really helps MongoDB. I felt like Id be like a caged tiger. The company was incorporated in 2010 and is headquartered in New York, New York. It doesnt make a lot of sense when I look at it from a strategic point of view. For more information on howCEDcollects and uses personal data, please visit ourprivacy policy. Were all cheering for Mongo, and what a remarkable success story. Notify me of follow-up comments by email. I still stayed on the Datadog board and Im actually on the board today. 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. MongoDBs path from unlikely NYC enterprise tech startup to global category leader has been amazing to watch. Were fortunate, the business then was roughly about 250 people trailing about $30 plus million in revenue. And then we triage which ones do we want to invest in new, which product is going well, which products were to shut down? And what I have to work on now to make sure that I get that kind of outcome. Those are the people I see tend to really grow and evolve as a leader. On this Wikipedia the language links are at the top of the page across from the article title. 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. Learn More on Dev Ittycheria's trading history. Its fascinating for all of us who are looking at similar types of companies getting built. How do they kind of measure the success of the business? What I mean by that is you constantly have to work at your trade craft. One of the other things customers care a lot about is getting rid of undifferentiated heavy lifting. Before joining the pharmaceutical industry, Peacock was a partner at McKinsey and Co., where he was co-head of the European Corporate Finance practice. He holds a B.S. And our focus is really helping developers use data to build amazing applications. MongoDB's insider roster includes Archana Agrawal (Director), Thomas Bull (Insider), Hope Cochran (Director), Michael Gordon (CFO), Charles Hazard, Jr. (Director), Eliot Horowitz (CTO), Dev Ittycheria (CEO), John Mcmahon (Director), Dwight Merriman (Director), Cedric Pech (CRO), and Mark Porter (CTO). We make some decisions about, Are we going to be profitable? And typically we see a lot of consolidation happening now in large companies. So in the early days when I joined actually my first CRO, my first CMO, were actually on the west coast because I couldnt find enough depth and experience in New York city. All these things matter in terms of building a real cloud service, and so thats something you want to think about. The second big challenge is that relational databases are not designed for scale. Select Personal Finance. MongoDB serves customers worldwide by providing an open-source database platform for automating, monitoring, and deployment backups. And thats something that you guys created right? 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 theres some spirit of coopertition and thats like weve been dealing with the big guys, Oracle from day one, Microsoft, and obviously now Amazon. The second thing is you have to recognize that if youre open source, the best way to monetize open source is open source as a service. Class of 1978, in a prepared statement. And sometimes whos moving backwards. So you can thrive as an infrastructure company without being open source. Get notified of the Biography of World Famous Personalities. 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. I was ecstatic to see MongoDB featured in this recent CRN Cloud News article. My academic training is as an engineer, what I realized about myself was that I really wanted to be at the intersection of business and technology. Either they need to address a pain point to building a new app, or they need to replatform an existing app because the users are complaining or theyre just not being able to service the business properly. For access to live and exclusive vide. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. And now we have a very distributed team. And you see a lot of signs with the organization. Ittycheria serves on the board of Datadog, a public software company. Share Background Report Overview of Dev C Ittycheria Lives in: Warren, New Jersey Phone: View phone number Age: 56 Dev Ittycheria's Voter Registration I need to be very clear on what our strategy is, at least the next couple of years. Jonathan M. Peacock is chairman and CEO of Biotech company Bellerophon Therapeutics and is a board member of Kite Pharma. 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. Talk to anyone who wants to do a schema change and theyll roll their eyes because they know how painful that is. 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 is 53, he's been the President, Chief Executive Officer e Director of MongoDB Inc since . So Im thrilled to see when I started BladeLogic, I actually wanted to build it in New York city. 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. We dont have to manage two systems, learn two platforms, etc. Well, with a service, with open source as a service, you can monetize everything because youre just paying as you go. So they can pick and choose which services to use from which phone providers. Stephen M. Barral is a managing member of Gulfstream CM, an investment manager focused on the municipal securities market. Its not always a CIO, it could be the VP of Infrastructure. 5. And no matter how successful you are, right? 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. 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. BY Dev Ittycheria. Thats just what I seem to really get excited about. We recognize the markets large enough and we feel like were well positioned. 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. Dev eventually merged the business with Breakaway Solutions and the combined company went public in 1999. Well, one, we run on all three clouds. Managing a distributed database can be quite challenging. 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. The second thing I would say is that we didnt view open source as a crowdsourced R&D strategy. 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. Id like to talk about lessons in scaling. Itd be foolish to try and optimize for profitability. Do you have to recruit a completely different set of folks as you scale? The estimated net worth of Dev Ittycheria is at least $16.88 million as of January 3rd, 2023. 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. Great. The company also renders enterprise software integration, platform certification, and commercial licensing services. He currently serves as the President & CEO of MongoDB. China has owned the graphite market for decades. New York, NY 10022-6600|Map, SITE POWERED BY EXPRESSION ENGINE | 2023. So it just makes it so much easier to use MongoDB, to build applications, to do it quickly and to do it more powerfully. So youll see us expand into other capabilities that developers need to build applications. Tue, Jun 15 2021 5:33 PM EDT. Obviously, with Atlas, it has to be deployed and delivered to the cloud. So youve done it time and again, and both before IPO and after. Learn More about insider trades at Datadog. Ittycheria and his wife, Dr. Anju Thomas, have two children. 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. 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. I personally love New York city, its my favorite city in the world. At the time representing by definition 0% of revenue, and then it progressed to presenting 23% of revenues in fiscal year 2019, 39% in 2020, and now 46% in 2021. Dev graduated from Rutgers University with a B.S. During his tenure, MongoDB has launched innovative products like cloud database, Atlas, garnered numerous customers, outperformed comparable competitors financially, and expanded operations worldwide. Enter your email address below to get our daily insider buying and selling report. But ultimately we all kind of use that process to galvanize our priorities and what were trying to do. MongoDBs open source project has continued to explode in popularity. The. And so weve automated that for developers and made it really easy. During the last ninety days, Dev Ittycheria has sold $7,874,824.72 in shares of MongoDB stock. The most recent insider tranaction occured on February, 13th when CEO Olivier Pomel sold 85,637 shares worth more than $7,075,328.94.
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