Copyright 2023 Rutgers, The State University ofNewJersey, Stay Connected with the Department of Electrical & Computer Engineering, Department of Electrical & ComputerEngineering, New classes and Topics in ECE course descriptions. I also felt like I could add some value to MongoDB. 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. We said, we invest a lot in the product. SAS remains strongly committed to providing the whole employee experience - meaningful work So access to the world from New York is very easy and I like the heterogeneity of the culture. 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. Datadog, Inc. provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. They can kill a deal by saying, Ill never use MongoDB and youre done. 00:33. 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. The Biggest "Missing Ingredient" in the $7 Trillion EV Market. 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. Information on this page was last updated on 2/13/2023. Well, one, we run on all three clouds. The second big challenge is that relational databases are not designed for scale. 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). And you see a lot of signs with the organization. Ittycheria serves on the board of Datadog, a public software company. Dev Ittycheria is president and CEO of MongoDB. Well, that feels like a great place to end. We didnt want to go down that path. But at the time it was very hard to recruit people. Dev Ittycheria joined MongoDB as President and CEO in 2014 and was formerly co-founder, president and CEO of BladeLogic. He is also the Lead Independent Director at . 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. 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. 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. We coexist with Oracle, we coexist with Microsoft, we coexist with other players, right? Your email address will not be published. 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. 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. They sold a total of 312,343 shares worth more than $86,077,186.26. Great. 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. The total sale. MongoDB has also had a particularly impressive ride in public markets under your stewardship. The second thing I would say is that we didnt view open source as a crowdsourced R&D strategy. We came up with SSPL, it was fairly controversial. 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. For access to live and exclusive vide. So once youre clear on the strategy, then a lot of the focus is on people. 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. Of this total $58,221 was received as fees earned or paid in cash, $0 was received as non-stock incentive plan compensation, $0 was received as change in pension value and nonqualified deferred compensation earnings, $0 was received as options, $199,962 was awarded as stock and $0 came from . Atlas, which is your database as a service offering, was launched in late 2016. They purchased a total of 1,150,006 shares worth more than $79,339,605.34. Youre CEO of one and board member of the other. Its not always a CIO, it could be the VP of Infrastructure. A leader has to essentially recruit well. 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. And I need to remove any barriers, whether the cultural barriers, financial barriers, organizational barriers, to make sure people are set up for success. Theyve done a fantastic job. You dont want to cut too many corners day one. Get notified the next time Dev Ittycheria buys or sells Datadog stock. Youre running a tech company with offices around the world. So youre still going to see a lot of Oracle out there. 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. Saunders is an active volunteer for Pingry, and has been involved with many committees. So obviously with our strategy, were not changing that every day. Dev Ittycheria Mixed fortunes for MongoDB which saw Q2 revenues rise 53% year-on-year this week, but Wall Street was jittery about a cautious forecast for the coming quarter and gave the stock price a pummelling. For example, Snowflake is not an open source company. Learn More about Dev Ittycheria's net worth. So 99% of our growth has been organic. How do you scale yourself? Yeah, its a good question. "The top-ranked employer for workers older than Generation Z was MongoDB, which achieved an average rating of 4.89. He currently serves as the President & CEO of MongoDB. So it just makes it so much easier to use MongoDB, to build applications, to do it quickly and to do it more powerfully. As a high growth company, we think a lot about how quickly we can grow. 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. Most ppl <35 have never led teams during a difficult economic environment. Dev C. Ittycheria, a software executive and venture capitalist, is president and CEO of database company MongoDB. What does Atlas do, so folks can wrap their minds around it. And we find the relationship kind of tends to be in three stages. So it speaks well to New York. BY Christiaan . In his past career Mr. Ittycheria was President & Chief Executive . 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. In the last year, insiders at the sold shares 60 times. One is a current Pingry student, and the other is joining Pingry this fall. 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. Licensing & Reprints. Image: Joao-Pierre S. Ruth. So its gone from zero to being almost half of the companys revenue. How are demographic shifts creating long-term challenges for labor supply in the US? Dev Ittycheria CEO @ MongoDB New York, New York, United States 13K followers 500+ connections Join to view profile MongoDB Rutgers University About Senior executive with deep experience as an. 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 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. The community really appreciates it as well. Were fortunate, the business then was roughly about 250 people trailing about $30 plus million in revenue. So Realm had gotten a lot of traction, but they also needed to synchronize data from the edge to the core. 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. This chart shows Dev Ittycheria's buying and selling at Datadog by year and by quarter. Amy B. Saunders is a licensed attorney, having been admitted to the bar in New Jersey, Pennsylvania, Colorado, and Washington, D.C. This net worth estimate does not reflect any other investments that Mr. Ittycheria may own. 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. Perfect timing for a "made in America" graphite company looking to mine, manufacture, and recycle graphite for the booming electric car market. Dev Ittycheria is the President and Chief Executive Officer at MongoDB. I have a GC in California and our philosophy is lets hire the best talent, no matter where they are within reason. Your California Privacy Rights/Privacy Policy. The company was incorporated in 2010 and is headquartered in New York, New York. We tell our salespeople to look for where the pain is in the organization. Were talking about a company thats now 44 years old and they still havent solved the scalability problem. Well, with a service, with open source as a service, you can monetize everything because youre just paying as you go. And too many times people wait too long to make changes. Well, I think you first have to ask yourself, why are you trying to be an open source? February 13, 2023. And then one last question from Julia, how does MongoDB manage to not compete with their open source community? Chart Data in Insider Trading History Table. Remarkable. Developer speed is a proxy for innovation The supercloud is transforming the role of developers. This net worth evaluation does not reflect any other investments that Mr. Ittycheria may own. 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? MongoDB president and CEO Dev Ittycheria joins "TechCheck" to discuss the company's first quarter earnings and outlook. Well, if youre a customer in Australia or youre a customer in Canada, Amazon, or say Azure may only have one region. And I obviously have to acknowledge my team. Great. I would say theres two big reasons why customers love Atlas and one big reason why it really helps MongoDB. But why dont we go directly to the CIO because everyone knows Mongo, right? A lot of people sometimes confuse us, are you competing with Snowflake? 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 that was important to us. And so, one day you might find AWS competing with you and your core business. Theres this tension between bottoms-up and top-down. Dev founded his first technology company in 1998, and his leadership and board roles have resulted in 5 IPOs and 2 significant acquisitions. 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. Most Popular. First, you kind of land a workload or a few workloads. Award-winning Open Source Engineer and VP of Developer Relations. ), TRANSCRIPT (edited for clarity and brevity). It just alleviates them, and a customer will always tell us my competitive advantage is not by hiring more DBAs and more support staff my competitive edge is by building great product, adding new features, shipping features more quickly seizing new opportunities or responding to new threats really fast and investing more and more time and money and resources in maintaining, managing my data persistent architecture. Join our upcoming webcast for twitter.com/i/web/status/1. And that essentially means that you now have the full organizations endorsement to be the platform of choice. $70 per post at $7/CPM. 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. 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 which is why it grew so quickly. Dev C Ittycheria (age 56) is listed at 4 Firethorn Ct Warren, Nj 07059 and is affiliated with the Democratic Party. But again, it all depends on what the strategy is. By continuing to use this Site or by clicking "OK", you consent to the use of cookies.OK. Ive had the pleasure of hosting two of MongoDBs co-founders over the years, first Dwight Merriman back in 2012 (here) and then CTO Eliot Horowitz in 2016 (here). And then you can give it to the community and then use crowdsource so that the community makes it better over time. 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? So today MongoDB to your point is everywhere. Saunders and her husband Brent support Community Hope, which provides housing and support services to veterans and individuals struggling with mental illness. Yeah. Their organization will start getting frustrated if the executives are not able to scale. Lets make it a standard. 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. And three, are they executing consistently quarter in, quarter out and do they have an operating rhythm? 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