Talk to anyone who wants to do a schema change and theyll roll their eyes because they know how painful that is. Most recently, Dev Ittycheria sold 39,382 shares of the business's stock in a transaction on Tuesday, January 3rd. For example, Snowflake is not an open source company. 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. Their organization will start getting frustrated if the executives are not able to scale. Following the acquisition, he served as President of BMC. 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. We recognize the markets large enough and we feel like were well positioned. How do you work with cloud vendors? And I obviously have to acknowledge my team. Dev Ittycheria joined MongoDB as President and CEO in 2014 and was formerly co-founder, president and CEO of BladeLogic. They give us marketing dollars to drive customer demand. We make some decisions about, Are we going to be profitable? Then a year later, we just got an offer to get bought out by BMC. Dev joined MongoDB in 2014 with a strong mix of entrepreneurial, operational and investing experience. And typically we see a lot of consolidation happening now in large companies. Dev C. Ittycheria Lead Independent Director, Datadog, Inc. Dev C. Ittycheria founded BladeLogic, Inc. and Applica Corp. In the last year, insiders at the sold shares 34 times. 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. Obviously, with Atlas, it has to be deployed and delivered to the cloud. It doesnt make a lot of sense when I look at it from a strategic point of view. In fact, my predecessor at MongoDB was actually based out of California. So then our revenue forecast then drives an expense forecast. Its all over. 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. He has been a member of the Minnesota Vikings ownership group for a decade, and serves as the teams executive vice president strategic planning and business initiatives. Youre running a tech company with offices around the world. He currently serves as the President & CEO of MongoDB. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. Were really focused on helping developers build amazing applications and leveraging software and data to do so. Now, why is that important? 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. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. For Search, what we found was a lot of customers were dual homing data to both MongoDB and say Elastic. Datadog is not an open source company, right? So one is linking to product market fit. So thats why weve gotten so much popularity and thats why weve taken off. He and his wife Kathleen have one child attending Pingry. I will start by reviewing our first-quarter results before giving you a. That being said, developers dont necessarily have the right to say yes, they have the right to say no. We dont want to do that. 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. 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). Learn More about Dev Ittycheria's net worth. A lot of people sometimes confuse us, are you competing with Snowflake? I personally love New York city, its my favorite city in the world. He currently serves as the President & CEO of MongoDB. So we think about how quickly we can grow our top line relative to our productivity and how fast we can hire. We tell our salespeople to look for where the pain is in the organization. And so, what you as leader have to do, is this a fixable development issue? Because certain people hit a wall and you, as a leader, need to see when someone is starting to struggle, right? I was ecstatic to see MongoDB featured in this recent CRN Cloud News article. The second big challenge is that relational databases are not designed for scale. 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. The community really appreciates it as well. 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? Theres this tension between bottoms-up and top-down. Dev Ittycheria is president and CEO of 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. We partner with them on deals. 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? Learn More on Dev Ittycheria's salary. 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. The corporate mailing address for Mr. Ittycheria and other MongoDB executives is 1633 BROADWAY 38TH FLOOR, NEW YORK NY, 10019. Yeah, weve made three acquisitions and two of them were non-revenue acquisitions, they were more technology acquisitions. 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. For more information on howCEDcollects and uses personal data, please visit ourprivacy policy. I need to be very clear on what our strategy is, at least the next couple of years. He founded two companies, led and scaled multiple software companies, and made personal and institutional investments in a number of other disruptive software companies. And if you give away too much of your product, its very hard to monetize. Insiders at Datadog own 15.8% of the company. They purchased a total of 1,150,006 shares worth more than $79,339,605.34. 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 . Dev began his professional career at large and growth-stage telecom companies developing advanced broadban .. Read More, Get notified of the Biography of World Famous Personalities. 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 it just makes it so much easier to use MongoDB, to build applications, to do it quickly and to do it more powerfully. Now, Amazon and Azure in particular have competitive offerings, but we feel were very well positioned when it comes to going head to head against those. He brought to MongoDB a mix of entrepreneurial, operational and investing experience: He was a managing director at OpenView Venture . If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. Most Popular. He is currently the CEO of MongoDB and a member of the board of directors at DataDog. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. I think whats changed is the access to capital obviously, firms like FirstMark and others have done a lot of investing in New York. Author of various open-source dev-tools and software libraries used by millions of developers worldwide. You have to ask yourself, why is open source an important element of the strategy? Always have the attitude of I have more to learn, and that to me has paid massive dividends. Sometimes theres a little bit of blood on the walls. Your California Privacy Rights/Privacy Policy. So, global domination. We dont have to manage two systems, learn two platforms, etc. 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. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. Previously, he was Managing Director at OpenView Venture Partners, Venture Partner at Greylock Partners, and co-founder of BladeLogic, which was acquired by BMC for $900 million. Theres many reasons to do open source. 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. 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. Ittycheria estimated that MongoDB had spent $150 million on research and development over the years to create and maintain the open-source version of the database. And you see people from all walks of life. Id like to talk about lessons in scaling. 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. MongoDB serves customers worldwide by providing an open-source database platform for automating, monitoring, and deployment backups. So you have to really build real competence around your tooling, management infrastructure, your telemetry or your multi tenant architecture. MongoDB was founded by developers for developers to provide a database designed for today's modern applications. 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. They say, is it free? This net worth evaluation does not reflect any other investments that Mr. Ittycheria may own. Well, I think the first thing is youve got to have strong product market fit. The company also renders enterprise software integration, platform certification, and commercial licensing services. I felt like Id be like a caged tiger. Prior to MongoDB, Ittycheria was the Co-founder & CEO of BladeLogic and the President of BMC Software. Chart Data in Insider Trading History Table. So says Dev Ittycheria, CEO of MongoDB, but organizations need to realise that there's more to this re-invention than simply declaring that it's full speed ahead in a shift to the cloud. So they can pick and choose which services to use from which phone providers. Mr. Ittycheria earned a salary of $400,000.00, stock awards of $10,135,257.00, and other compensation of $31,500.00. So 2014 turned out to be a pretty interesting year for me. Learn More on Dev Ittycheria's contact information. And they said, this is crazy. They sold a total of 897,213 shares worth more than $88,522,836.60. I didnt want to be stuck behind a computer all day. The Biggest "Missing Ingredient" in the $7 Trillion EV Market. Obviously its been a pleasure to work with Oli and the team there. Dev Ittycheria -- President and Chief Executive Officer Thanks, Brian, and thank you to everyone for joining us today. And be very, very clear on that. PDF. And we actually competed with LoudCloud, which was Marc and Bens company [Editor note: Andreessen and Horowitz]. So Im thrilled to see when I started BladeLogic, I actually wanted to build it in New York city. 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. 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. Licensing & Reprints. Award-winning Open Source Engineer and VP of Developer Relations. Learn More about Dev Ittycheria's net worth. And so I said, why dont I do that? 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. So its allowed us to build a real business, allowed us to invest back into the product. As a CEO, how do you arbitrage between the different needs? Weve now embedded that it just makes life so much easier for customers. . And so you really build a lot of muscles in terms of using the best, the cheapest form of financing is revenue, right? And all those tenets still apply. 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. Why do you think its continued to be so incredibly popular and in fact accelerating? 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. And today were approaching 4,000 people and about $700 million in run rate. So we have to work with the cloud provider. So you have to then translate developer enthusiasm and interest into a real business value proposition for some decision makers. One, the relational database, where youre trying to basically disaggregate data into rows and columns is a very counterintuitive way to model data. Lets make it a standard. So you can scale very, very easily using MongoDB. 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. Dev eventually merged the business with Breakaway Solutions and the combined company went public in 1999. Itd be foolish to try and optimize for profitability. 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. A tech CEO spent almost $600,000 on a Super Bowl ad to warn America about Tesla's self-driving technology. Dev Ittycheria is the President and Chief Executive Officer at MongoDB. And which is why it grew so quickly. Leading database company MongoDB has appointed IT veteran Dev Ittycheria as President and CEO. 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. Following the completion of the sale, the chief executive officer now directly owns 190,264 shares of the company's stock, valued at $38,045,189.44. @CEDUpdate 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. Now Amazons trying to make some extensions with Aurora to kind of make relational databases suck less, but they fundamentally have scalability problems. The most recent insider tranaction occured on January, 3rd when CFO Michael Lawrence Gordon sold 2,060 shares worth more than $410,578.60. 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. [Matt Turck] As a level set, heres a quick run through the history of MongoDB: 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. You know, or Dremio or other companies like that? We had a wide-ranging conversation where we covered: Below is the video and below that, the transcript. So being able to embed analytics is going to be even more important. And third, its not trivial to be both building software and running software. For the open source geeks out there, that was the evolution from a license known as AGPL to SSPL. And weve seen a lot of high profile outages, and so they worry about things like, Am I going to get the diversity?. Berndt has been a designer for National Geographic magazine and has experience in multimedia publishing and interior design. They want to standardize and say a modern standard like MongoDB, maybe a relational standard like Postgres. And then you keep adding more stuff to it, like more features, more product expansion. We have replication sharding built into our architecture. Managing a distributed database can be quite challenging. Great. . 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. 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 is 53, he's been the President, Chief Executive Officer e Director of MongoDB Inc since . Think about supply chain apps where you have to have real-time information. I think its absolutely fascinating and super impressive. May 3, 2016. Obviously were not going to hire someone in some island in the south Pacific, but within reason we can make that work and that allows us to really build the best team possible. Biography of Dev Ittycheria. 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 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. So youll see us expand into other capabilities that developers need to build applications. 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? 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 . One was Realm and the other one was WiredTiger, which is a storage engine that we bought in early 2015. Yeah, its a good question. The corporate mailing address for Mr. Ittycheria and other Datadog executives is 620 EIGHTH AVENUE 45TH FLOOR, NEW YORK NY, 10018. I have a GC in California and our philosophy is lets hire the best talent, no matter where they are within reason. Ittycheria was the co-founder and CEO of BladeLogic, one of the fastest growing enterprise software companies of the last decade. Following this acquisition, Dev served as President of BMC, overseeing a business with $1.4 billion in annual revenue. 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. But look at Oracle. It could be the line of business. MongoDB priced its IPO at $24 a share. In addition to being a truly world-class CEO, Dev has had an outsized impact on the New York tech scene, as hes been playing a central role both at MongoDB and also at Datadog, where hes been a long time board member (after leading the companys Series B back in 2014). 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. 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