So Google may have some capabilities that are better than Amazon, and Amazon has some capabilities better than Azure and vice versa. president and CEO Dev Ittycheria is scheduled to be on CNBC's "Mad Money," which airs Monday at 6 p.m. EDT. SAS remains strongly committed to providing the whole employee experience - meaningful work I would say theres two big reasons why customers love Atlas and one big reason why it really helps MongoDB. He currently serves as the President & CEO of MongoDB. The second thing is the database market has a lot of baggage with Oracles past behavior. Perfect timing for a "made in America" graphite company looking to mine, manufacture, and recycle graphite for the booming electric car market. 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. Ittycheria was the co-founder and CEO of BladeLogic, one of the fastest growing enterprise software companies of the last decade. Get notified the next time Dev Ittycheria buys or sells MongoDB stock. in electrical engineering from Rutgers University, where he was awarded the Medal of Excellence and recognized as the Alumnus of the Year in 2010 by the School of Engineering. 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? We think it would be very unfair for someone to just pick a free version, make money off it and not give anything back. 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. 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 really appreciate it. Dev Ittycheria is an American software executive, entrepreneur, venture capitalist, and the president and CEO of MongoDB, a popular next-generation database. Dev Ittycheria is an American software executive, entrepreneur, venture capitalist, and the president and CEO of MongoDB, a popular next-generation database. 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 we find the relationship kind of tends to be in three stages. One of the other things customers care a lot about is getting rid of undifferentiated heavy lifting. Ittycheria currently serves on the board of directors for public software company, Datadog, and blank-check company, Altimeter Growth Corporation. 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. Detailed information on the use of cookies on this site is provided in ourcookie policy. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. The second thing I would say is that we didnt view open source as a crowdsourced R&D strategy. Learn More about insider trades at Datadog. Always have the attitude of I have more to learn, and that to me has paid massive dividends. Learn More on Dev Ittycheria's contact information. But obviously you also have to recruit outside for a certain set of skills that you may not have in the organization. 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. So going after the database market is one of the largest markets in enterprise software. She has served on the PSPAs Advisory Board and most recently was first vice president of the Executive Board. Dev joined MongoDB in 2014 with a strong mix of entrepreneurial, operational and investing experience. And you see people from all walks of life. Balanced lives continue to make great business sense. Theyre super expensive because the relational database was designed to be a single node system. 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. Learn More on Dev Ittycheria's trading history. MongoDB, Inc. engages in the development and provision of a general-purpose database platform. So you can thrive as an infrastructure company without being open source. Dev Ittycheria, CEO, at MongoDB joins. 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 so at some point we have to say, Hey, its time to bring someone else who can kind of help the organization scale to the next level. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. The company was incorporated in 2010 and is headquartered in New York, New York. You know, or Dremio or other companies like that? Remarkable. Mr. Ittycheria owns 190,264 shares of Datadog stock worth more than $16,880,222 as of February 16th. Theres a lot of fierce battles about what to do and what not to do. I think New York is turning out to be a pretty interesting place for tech. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. 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. And thats something that you guys created right? Mr. Ittycheria earned a salary of $400,000.00, stock awards of $10,135,257.00, and other compensation of $31,500.00. 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. 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? Well, I think the first thing is youve got to have strong product market fit. Datadog, Inc. provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. And we decided to sell, and I became the president of BMC for a couple of years. (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! Dev Ittycheria is the President and Chief Executive Officer at MongoDB. Is that for a company of the global scale of Mongo, is that still the core motion? They sold a total of 897,213 shares worth more than $88,522,836.60. So imagine if we had three or 5% share, wed be a very, very large company. Now Amazons trying to make some extensions with Aurora to kind of make relational databases suck less, but they fundamentally have scalability problems. 845 Third Avenue Why do you think its continued to be so incredibly popular and in fact accelerating? And that was important to us. And no matter how successful you are, right? Well, that feels like a great place to end. He also serves on the new stadium development team, set to open in 2016. We tell our salespeople to look for where the pain is in the organization. Then flying anywhere from New York is so easy. We dont have to manage two systems, learn two platforms, etc. 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 . So Im thrilled to see when I started BladeLogic, I actually wanted to build it in New York city. The most recent insider tranaction occured on February, 13th when CEO Olivier Pomel sold 85,637 shares worth more than $7,075,328.94. They can kill a deal by saying, Ill never use MongoDB and youre done. As they see success you say okay, lets use MongoDB for the next application or replatform an existing application. So youll see us expand into other capabilities that developers need to build applications. Credit: Dev Ittycheria, MongoDB . Like what can they do, how do you incorporate or partner with them? 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. 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. You have a multi-cloud offering now, right? And our goal is to be the standard where we can go after 80% of the use cases. I would just think of us as we really want to be an application data platform. Get notified the next time Dev Ittycheria buys or sells Datadog stock. And we want to get that first workload. 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 . Its all over. And for additional context, thats a current controversy around Elastic and some stuff like gotten themself tripped up into this whole conversation. But ultimately we all kind of use that process to galvanize our priorities and what were trying to do. Subscribe to CNBC PRO. He is a member of the Board of Trustees of the Essex Hunt Club and has previously served as a member of the Board of Trustees of the Far Hills Country Day School and the Board of Governors of the Somerset Hills Country Club. 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. Dont assume that just because youre successful in the past, you can be successful in the future because your business is changing. Think about it like a leaderboard for a gaming application. Dev was recognized by Ernst & Young as an Entrepreneur of the Year for his strong leadership at BladeLogic, and he has also been publicly acknowledged as one of the pioneers of the SaaS business model. The corporate mailing address for Mr. Ittycheria and other Datadog executives is 620 EIGHTH AVENUE 45TH FLOOR, NEW YORK NY, 10018. Yes. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. 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. Under Dev's leadership, MongoDB has released innovative . And then one last question from Julia, how does MongoDB manage to not compete with their open source community? Yeah, its a good question. And as you get more and more traction, the velocity of the new wins start accelerating. Ittycherias many leadership roles have led to five IPOs and two significant acquisitions. First, you kind of land a workload or a few workloads. So access to the world from New York is very easy and I like the heterogeneity of the culture. And so its not a secret, but since weve gone public three and a half years ago, weve had six C level changes, right? I have a GC in California and our philosophy is lets hire the best talent, no matter where they are within reason. Chart Data in Insider Trading History Table. So it allowed us to really capture value, but still also give compelling value to our customers. I think its absolutely fascinating and super impressive. Then a year later, we just got an offer to get bought out by BMC. Join us for a morning of insights, inspiration, valueand breakfast. It also offers professional services including consulting and training. Peacock is a chartered accountant. And I need to remove any barriers, whether the cultural barriers, financial barriers, organizational barriers, to make sure people are set up for success. 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. I will start by reviewing our first-quarter results before giving you a. We partner with them on deals. So obviously with our strategy, were not changing that every day. Great. Before MongoDB, Dev was a Managing Director at OpenView Venture Partners and before that he was a Venture Partner at Greylock Partners. And three, are they executing consistently quarter in, quarter out and do they have an operating rhythm? And now we have a very distributed team. Dev graduated from Rutgers University with a B.S. By continuing to use this Site or by clicking "OK", you consent to the use of cookies.OK. Can I use this free to distribute? Learn More about Dev Ittycheria's net worth. Prior to this position, he was managing director at OpenView Partners. Dev Ittycheria. And so I think the line or distinction between mobile and web apps will blur when you have that kind of network performance. So we really financed the business through customers and we ended up going public in 2007. 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. You have to ask yourself, why is open source an important element of the strategy? So you just have to make sure theres enough out there that you can monetize to build a healthy business. Leading developers and publishing technical content for over a decade. Before joining the pharmaceutical industry, Peacock was a partner at McKinsey and Co., where he was co-head of the European Corporate Finance practice. Mars Ingenuity helicopter code contributor. Whos moving up? A question from Alan, about was your strategy growing by acquisition and integration versus organically. And obviously our investors also see a return of the investment. Think about supply chain apps where you have to have real-time information. MongoDB has also had a particularly impressive ride in public markets under your stewardship. Dev Ittycheria, by /s/ Ron A. Metzger, Attorney-in-Fact: 02/14/2022 ** Signature of Reporting Person: Date: Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Do you have to recruit a completely different set of folks as you scale? I didnt want to be stuck behind a computer all day. 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. You dont want to cut too many corners day one. Learn More on Dev Ittycheria's contact information. He currently serves as the President & CEO of MongoDB. 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. . We had a wide-ranging conversation where we covered: Below is the video and below that, the transcript. The estimated net worth of Dev Ittycheria is at least $16.88 million as of January 3rd, 2023. Introducing the *Emerging* MAD (Machine Learning, AI, Data) Index, In Conversation with Victor Riparbelli (CEO) and Matthias Niessner (Co-Founder), Synthesia, Red Hot: The 2021 Machine Learning, AI and Data (MAD) Landscape, Is Big Data Still a Thing? Dev Ittycheria is 53, he's been the President, Chief Executive Officer e Director of MongoDB Inc since . No ones going to use your product. Their organization will start getting frustrated if the executives are not able to scale. For Search, what we found was a lot of customers were dual homing data to both MongoDB and say Elastic. Share Background Report Overview of Dev C Ittycheria Lives in: Warren, New Jersey Phone: View phone number Age: 56 Dev Ittycheria's Voter Registration 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. So Realm had gotten a lot of traction, but they also needed to synchronize data from the edge to the core. Is that sort of bottoms up or is there also top down of AEs going directly to CIOs? Award-winning Open Source Engineer and VP of Developer Relations. 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. 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. Datadog is not an open source company, right? . 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? 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. I was ecstatic to see MongoDB featured in this recent CRN Cloud News article. Elliot S. Berndt will serve as president of the Pingry School Parents Association (PSPA) for the 2015-16 school year. There are 4 older and 12 younger executives at MongoDB Inc. What are the key drivers behind that? Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. And Ive been to almost every major city in the world. Great. They sold a total of 312,343 shares worth more than $86,077,186.26. How do they kind of measure the success of the business? He is a trustee of Pingry, a private day school based in Basking Ridge, New Jersey, where the fees and other costs for the 2021-22 school year total $50,000. As a high growth company, we think a lot about how quickly we can grow. And so you really build a lot of muscles in terms of using the best, the cheapest form of financing is revenue, right? Well, I think happiness for a CEO is a great relationship with your board and having a high functioning, cohesive team under you, right? 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. Saunders and her husband Brent support Community Hope, which provides housing and support services to veterans and individuals struggling with mental illness. 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Venture Partners and before that he was a lot of customers were dual homing data to both and.
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