Correct. And if you just keep trying to run the same playbook, youre going to hit a wall. Share Background Report Overview of Dev C Ittycheria Lives in: Warren, New Jersey Phone: View phone number Age: 56 Dev Ittycheria's Voter Registration May 3, 2016. Your email address will not be published. Your markets changing, your customers are changing. You have a multi-cloud offering now, right? For access to live and exclusive vide. 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. Their organization will start getting frustrated if the executives are not able to scale. Is that for a company of the global scale of Mongo, is that still the core motion? So its allowed us to build a real business, allowed us to invest back into the product. 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. Thats just what I seem to really get excited about. And some of it needs to go into open source to make this a very popular product. 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. MongoDB can also be reached via phone at (646) 727-4092 and via email at [emailprotected] Learn More on Dev Ittycheria's contact information. And they have the right level. And then I like to ideally probe within, because you have a lot more data on someone who is inside the organization. The firm's products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. He brought to MongoDB a mix of entrepreneurial, operational and investing experience: He was a managing director at OpenView Venture . [Dev Ittycheria] Correct. 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. What does Atlas do, so folks can wrap their minds around it. A tech CEO spent almost $600,000 on a Super Bowl ad to warn America about Tesla's self-driving technology. We didnt want to go down that path. And be very, very clear on that. On this Wikipedia the language links are at the top of the page across from the article title. Dev Ittycheria, CEO, at MongoDB joins. 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. 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 . Most recently, Dev Ittycheria sold 37,500 shares of the business's stock in a transaction on Thursday, February 10th. Before MongoDB, Dev was a Managing Director at OpenView Venture Partners and before that he was a Venture Partner at Greylock Partners. The shares were sold at an average price of $199.96, for a transaction totalling $7,874,824.72. As a CEO, how do you arbitrage between the different needs? I started my career in some big companies. 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. Dev Ittycheria is president and CEO of MongoDB. I need to be very clear on what our strategy is, at least the next couple of years. 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. During his tenure, MongoDB has launched innovative products like cloud database, Atlas, garnered numerous customers, outperformed comparable competitors financially, and expanded operations worldwide. You have to ask yourself, why is open source an important element of the strategy? Here is MongoDB President & CEO Dev Ittycheria. So, global domination. 1611 W Harrison St Ste 400, Chicago, IL, 60612 3 other locations (312) 243-4244 OVERVIEW Dr. Thomas works in Chicago, IL and 3 other locations and specializes in Nurse Practitioner. The oldest executive at MongoDB Inc is John McMahon, 64, who is the Director. Mr. Ittycheria owns 190,264 shares of Datadog stock worth more than $16,880,222 as of February 16th. 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. So you can scale very, very easily using MongoDB. There was no prior art. Dev Ittycheria is the Director of Datadog Inc and owns about 441,347 shares of Datadog Inc (DDOG) stock worth over $38 Million . Thats the heart of the whole discussion. And then as you know theres been a lot of friction between AWS and Elastic and other open source companies. And that essentially means that you now have the full organizations endorsement to be the platform of choice. He currently serves as the President & CEO of MongoDB. 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. Learn More on Dev Ittycheria's trading history. 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. It doesnt make a lot of sense when I look at it from a strategic point of view. And so I said, why dont I do that? Perfect timing for a "made in America" graphite company looking to mine, manufacture, and recycle graphite for the booming electric car market. Well, with a service, with open source as a service, you can monetize everything because youre just paying as you go. 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. How do they kind of quickly triangulate on issues and resolve them quickly? 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. Currently, Mr. Ittycheria holds the position of President, Chief. And we knew that we solved a very important problem. 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). Ittycheria and his wife, Dr. Anju Thomas, have two children. But obviously with COVID weve learned to collaborate. 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. Ittycheria serves on the board of Datadog, a public software company. They dont want to use a new database for every new use case. I have a CTO in Seattle, have a head of sales in Europe. 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. Getting revenue from your customers. Youre running a tech company with offices around the world. 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. 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. Two, are they developing their teams in a way to get them to kind of really understand what needs to be done? . Learn More on Datadog's active insiders. 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. So the cheapest paid tier is like 9 bucks a month. Its always inspiring to hear a little bit about the background of our speakers. Insiders at MongoDB own 5.7% of the company. But at your scale, theres still no sort of temptation to just say, Hey, everybody knows Mongo now. So yes, I mean, its great that developers love us. 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. And all of a sudden I saw these companies get funded. MongoDBs open source project has continued to explode in popularity. We need to make MongoDB a standard. Well, if youre a customer in Australia or youre a customer in Canada, Amazon, or say Azure may only have one region. Dev Ittycheria Biography. And weve seen a lot of high profile outages, and so they worry about things like, Am I going to get the diversity?. Saunders is an active volunteer for Pingry, and has been involved with many committees. You know, or Dremio or other companies like that? The second big challenge is that relational databases are not designed for scale. Yes. Literally there is not one country, once city in the world, I dont think someones not using MongoDB. Itd be foolish to try and optimize for profitability. 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. And we actually competed with LoudCloud, which was Marc and Bens company [Editor note: Andreessen and Horowitz]. How do you think about this? 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? BY Christiaan . Select Personal Finance. Join us for a morning of insights, inspiration, valueand breakfast. 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. Learn More on Dev Ittycheria's trading history. And then you keep adding more stuff to it, like more features, more product expansion. And then one last question from Julia, how does MongoDB manage to not compete with their open source community? Balanced lives continue to make great business sense. CNBC on Peacock. 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. 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. My job is that I need to do three things well. Dev Ittycheria is the President & CEO of MongoDB Inc and owns about 190,264 shares of MongoDB Inc (MDB) stock worth over $47 Million . Save my name, email, and website in this browser for the next time I comment. At the time it was a pretty high multiple, obviously seems paltry in todays revenue multiples, but it was a pretty rich multiple for that era. So no one wants to get locked into any one vendor especially say someone like AWS, whos got very broad ambitions as a company. Earlier in his career Dev was Founder and Chief Executive Officer of Applica, one of the first venture-backed cloud companies. 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 company's chief executive until it was bought by BMC for $900 million. But look at Oracle. Whos moving sideways? You'll learn Learn More about Dev Ittycheria's net worth. Well, we essentially solve that problem by coming out with our document architecture, which is much more conducive to the way developers think and the way developers code. 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. Learn More about insider trades at Datadog. PDF. Like, oh my God, the adoption that people would say, youre not open source anymore. 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. Jonathan M. Peacock is chairman and CEO of Biotech company Bellerophon Therapeutics and is a board member of Kite Pharma. I would just think of us as we really want to be an application data platform. Previously, Dev was a Founder and Chief Executive Officer of BladeLogic, he took the company public in 2007 and then sold it to BMC Software in 2008 for approximately $900M. And I break it down into kind of three things. Chart Data in Insider Trading History Table. MongoDB serves customers worldwide by providing an open-source database platform for automating, monitoring, and deployment backups. 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. And all those tenets still apply. 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. Learn More about Dev Ittycheria's net worth. Pretty crazy time to start a company by the way, 2001. So as data volumes grow, their architecture has limitations. I will start by reviewing our first-quarter results before giving you a. What I mean by that is you constantly have to work at your trade craft. 5. For Search, what we found was a lot of customers were dual homing data to both MongoDB and say Elastic. The estimated net worth of Dev Ittycheria is at least $39.95 million as of January 3rd, 2023. And no matter how successful you are, right? 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. So 99% of our growth has been organic. 845 Third Avenue As they see success you say okay, lets use MongoDB for the next application or replatform an existing application. If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. And thats when you see the relationship with the customer grow fast. And so you really build a lot of muscles in terms of using the best, the cheapest form of financing is revenue, right? And you see people from all walks of life. Theres this tension between bottoms-up and top-down. And we also think therell be a lot of free usage of MongoDB out there. Managing a distributed database can be quite challenging. Is there stuff on their product roadmap that you can talk about? Balanced lives continue to make great business sense. This chart shows Dev Ittycheria's buying and selling at Datadog by year and by quarter. Under Dev's leadership, MongoDB has released innovative . Biography of Dev Ittycheria. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. The. Were really focused on helping developers build amazing applications and leveraging software and data to do so. Whats the strategy behind it? 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. Previously, Barral was managing director at Barclays Capital and JP Morgan in convertible sales and trading. 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. And then maybe over time, maybe even years, then all of a sudden say, You know what? 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. Well, I think you first have to ask yourself, why are you trying to be an open source? So obviously with our strategy, were not changing that every day. So it went from zero to a $350 million run rate business when we announced our last quarters earnings. 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. Learn More about Dev Ittycheria's net worth. In terms of development, I think you bring up a very important point. And so what the cloud providers are doing is taking these free versions of open source, plugging into the platform and monetizing it. We made an acquisition of Mlab, which is a first generation database service offering 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. We partner with them on deals. So essentially almost two a year, right? AWS launched DocumentDB today, a new database offering that is compatible with the MongoDB API. And Elastic themselves are growing more towards the security space than application search. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. Well, I think happiness for a CEO is a great relationship with your board and having a high functioning, cohesive team under you, right? 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. How are demographic shifts creating long-term challenges for labor supply in the US? And today were approaching 4,000 people and about $700 million in run rate. 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. Think about it like a leaderboard for a gaming application. in . Wilf and his wife Rachel have one child. Theyre super expensive because the relational database was designed to be a single node system. Berndt has been a designer for National Geographic magazine and has experience in multimedia publishing and interior design. RATINGS AND. 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 founded his first technology company in 1998, and his leadership and board roles have resulted in 5 IPOs and 2 significant acquisitions. He currently serves as the President & CEO of MongoDB. So well have a 3rd big, and their valuation I think will be quite large. 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. One is a current Pingry student, and the other is joining Pingry this fall. 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. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. So when they basically say why dont you the experts manage it for us? How do you arbitrage and then how has it evolved over time? Tue, Jun 15 2021 5:33 PM EDT. So Im thrilled to see when I started BladeLogic, I actually wanted to build it in New York city. Leading developers and publishing technical content for over a decade. So depending on how big your deployment is, how much resources you need and it really ranges the gamut in terms of a variety of customers. 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. 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 theyre motivated to drive those workloads to the cloud. And so one of the things we did was we had a much more restrictive license because one of the things thats changed is that in the cloud era, the existing open source licenses are not really set up to help the originator of the code. 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 . Dev C Ittycheria (age 56) is listed at 4 Firethorn Ct Warren, Nj 07059 and is affiliated with the Democratic Party. I need to make sure I have the right people in the organization, especially at the executive team to go execute on that strategy. (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. So Google may have some capabilities that are better than Amazon, and Amazon has some capabilities better than Azure and vice versa. Dev graduated from Rutgers University with a B.S. Notify me of follow-up comments by email. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. Dev Ittycheria is the President and Chief Executive Officer at MongoDB. And sometimes whos moving backwards. Ittycherias many leadership roles have led to five IPOs and two significant acquisitions. Information on this page was last updated on 2/13/2023. Dev is registered to vote in Somerset County, New Jersey. And too many times people wait too long to make changes. During the last ninety days, Dev Ittycheria has sold $7,874,824.72 in shares of MongoDB stock. 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 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. Jonathan M. Peacock is chairman and CEO of Biotech. Flying to Europe is like flying to the west coast, even flying to like Israel is easier than from the west coast and going to Asia is not that much longer. So once youre clear on the strategy, then a lot of the focus is on people. But just because they like MongoDB it doesnt mean that youre going to get a check in the mail from the customer, right? My philosophy in life has always been, always be the student of the game, not the master of the game. 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. Think about a financial app. Get notified of the Biography of World Famous Personalities. The corporate mailing address for Mr. Ittycheria and other MongoDB executives is 1633 BROADWAY 38TH FLOOR, NEW YORK NY, 10019. Datadog is not an open source company, right? The community is really I would say our sales leaders sometimes get frustrated because they think the free version competes with us, our paid versions. Your California Privacy Rights/Privacy Policy. The company was incorporated in 2010 and is headquartered in New York, New York. And in a high growth business, not everyone scales at the same rate, right? This net worth estimate does not reflect any other investments that Mr. Ittycheria may own. They live in Far Hills and have a child attending Pingry. 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. February 13, 2023. 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 really appreciate it. Wanted to build a real business, allowed us to build a real business, allowed us build! Customers worldwide by providing an open-source database platform for automating, monitoring, and deployment backups existing application theyre! You now have the full organizations endorsement to be done lot more data on who... Current Pingry student, and website in this browser for the next couple of years sales in Europe 38TH. Of Mongo, is that for a gaming application have resulted in 5 IPOs two... 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