And then maybe over time, maybe even years, then all of a sudden say, You know what? Theres many reasons to do open source. 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. Prior to MongoDB, Ittycheria was the Co-founder & CEO of BladeLogic and the President of BMC Software. 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. 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. So we had a lot of customers who obviously are building mobile. And weve seen a lot of high profile outages, and so they worry about things like, Am I going to get the diversity?. Learn More on Dev Ittycheria's trading history. So its tricky, but this is part of leadership, right? @CEDUpdate 5. They purchased a total of 1,150,006 shares worth more than $79,339,605.34. Were all cheering for Mongo, and what a remarkable success story. It just gets a little bit monotonous where I think the cultural diversity of New York is something that I really appreciate. And then we triage which ones do we want to invest in new, which product is going well, which products were to shut down? Its not always a CIO, it could be the VP of Infrastructure. Under Dev's leadership, MongoDB has released innovative . Were enabling people to use the power of our query language to create data not just from MongoDB, but from other sources. Learn More about Dev Ittycheria's net worth. * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). Think about it like a leaderboard for a gaming application. Dev also serves on the board of directors of DataRobot, a private software company. Credit: Dev Ittycheria, MongoDB . And then you keep adding more stuff to it, like more features, more product expansion. CNBC on Peacock. Well, I think you first have to ask yourself, why are you trying to be an open source? Itd be foolish to try and optimize for profitability. Then flying anywhere from New York is so easy. Is this a fatal flaw? So you can thrive as an infrastructure company without being open source. Ittycheria was the co-founder and CEO of BladeLogic, one of the fastest growing enterprise software companies of the last decade. Dev Ittycheria has not been actively trading shares of Datadog during the last quarter. CNBC Councils. Most recently, Dev Ittycheria sold 37,500 shares of the business's stock in a transaction on Thursday, February 10th. 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). Switching to the discussion to Go to Market strategies, you use open source as a freemium kind of strategy. Enter your email address below to get our daily insider buying and selling report. Barral and his wife Angela are the parents of a Pingry alumnus and two current Pingry students. He currently serves as the President & CEO of MongoDB. You know, theyve had Oracle RAC, sidecar and other ways to try and replicate. 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 then we use that as a wedge to get in the door and then use that as a way to So once we get in the door, our net expansion rates are very high because obviously we can then start winning more and more workloads. So we have never been more popular than we are today. If developers dont use our product, we dont have a business. We need to make MongoDB a standard. Dev C. Ittycheria Lead Independent Director, Datadog, Inc. Dev C. Ittycheria founded BladeLogic, Inc. and Applica Corp. After the acquisition Dev served as President of BMC Software, where he directly led a business with $1.4B in annual revenue and more than 4,000 employees. 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. 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. And the exact people who Ive seen struggle in not being able to scale, are the ones who just cant adapt and grow. 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. You dont want to cut too many corners day one. And so, one day you might find AWS competing with you and your core business. Dev Ittycheria is 53, he's been the President, Chief Executive Officer e Director of MongoDB Inc since . 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? I think New York is turning out to be a pretty interesting place for tech. Yeah. On this Wikipedia the language links are at the top of the page across from the article title. And too many times people wait too long to make changes. Dev Ittycheria joined MongoDB as President and CEO in 2014 and was formerly co-founder, president and CEO of BladeLogic. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. 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. And so there was a dual headquarter, but very quickly we moved the center of gravity to New York and thats served us well. MongoDBs open source project has continued to explode in popularity. 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. 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. It really comes from a lot of customer feedback and our intuition about the market. So theres a little bit of sausage making in the process. 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 would just think of us as we really want to be an application data platform. First, you kind of land a workload or a few workloads. How do you work with cloud vendors? He holds a B.S. So what customers want to focus on is where am I having the most pain? 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 thats a pretty difficult challenge for developers. Prior to MongoDB, Ittycheria was the Co-founder & CEO of BladeLogic and the President of BMC Software. I personally love New York city, its my favorite city in the world. So, global domination. Founder of BladeLogic, Inc. and Applica Corp., Dev C. Ittycheria occupies the position of President, Chief Executive Officer & Director at MongoDB, Inc. Mr. Ittycheria is also on the board of Datadog, Inc., The Pingry School and Altimeter Growth Corp. But why dont we go directly to the CIO because everyone knows Mongo, right? Well, that feels like a great place to end. Why do you think its continued to be so incredibly popular and in fact accelerating? Amy B. Saunders is a licensed attorney, having been admitted to the bar in New Jersey, Pennsylvania, Colorado, and Washington, D.C. Were talking about a company thats now 44 years old and they still havent solved the scalability problem. And that was important to us. And three, are they executing consistently quarter in, quarter out and do they have an operating rhythm? At some point you have to say, Can this be remedied or do I have to make a change?. So its gone from zero to being almost half of the companys revenue. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. Image: Joao-Pierre S. Ruth. So after IPO, maybe talk to teams and hiring and what do you want to do before IPO versus IPO? They sold a total of 312,343 shares worth more than $86,077,186.26. Talk to anyone who wants to do a schema change and theyll roll their eyes because they know how painful that is. He currently serves as the President & CEO of MongoDB. Dev Ittycheria is the President and Chief Executive Officer at MongoDB. And for additional context, thats a current controversy around Elastic and some stuff like gotten themself tripped up into this whole conversation. This net worth evaluation does not reflect any other investments that Mr. Ittycheria may own. 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. But the U.S. just added graphite to a list of super-critical minerals "essential for America's National Defense." Ittycheria led the companys 2017 IPO, the first of a database company in more than 26 years. I led the B round and Datadog, and then literally 6 months later, I joined Mongo to be a CEO. Sometimes theres a little bit of blood on the walls. Ittycheria serves on the board of Datadog, a public software company. (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. Prior to MongoDB, Ittycheria was a partner at Greylock Partners, the managing director at OpenView Venture Partners, and the co-founder and CEO of BladeLogic which was later acquired for $900 million. Author of various open-source dev-tools and software libraries used by millions of developers worldwide. They sold a total of 897,213 shares worth more than $88,522,836.60. According to a regulatory filing issued this week, which was signed by MongoDB CEO Dev Ittycheria, MongoDB has closed on $79.99 million so far in an equity offering worth a total of $100 million . Theres a lot of companies who try and do that and they struggle. Previously, Barral was managing director at Barclays Capital and JP Morgan in convertible sales and trading. Jonathan M. Peacock is chairman and CEO of Biotech company Bellerophon Therapeutics and is a board member of Kite Pharma. Dev eventually merged the business with Breakaway Solutions and the combined company went public in 1999. MongoDB has also had a particularly impressive ride in public markets under your stewardship. So you have to then translate developer enthusiasm and interest into a real business value proposition for some decision makers. By the way, I dont know if people realize this, but UiPath is pricing tonight and starting to trade tomorrow. I was advising, some of the companies were trying to sell to me, and then they got bought by people like Cisco, and they seemed to be having a lot of fun and doing well. Even at your scale there is a finite amount of resources. So we have to make sure we drive a lot of developer enthusiasm by using MongoDB. Obviously both MongoDB and Datadog are global companies, but given this event is Data Driven *NYC*, its worth pausing and realizing that those are basically the two major successes of enterprise tech in New York at least over the last few years. As a high growth company, we think a lot about how quickly we can grow. So as data volumes grow, their architecture has limitations. I will start by reviewing our first-quarter results before giving you a. 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. And then as you know theres been a lot of friction between AWS and Elastic and other open source companies. 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. 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. So we think about how quickly we can grow our top line relative to our productivity and how fast we can hire. And you see people from all walks of life. How do you think about this? Join our upcoming webcast for twitter.com/i/web/status/1. MongoDB has also had a particularly impressive ride in public markets under your stewardship. 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. Is that sort of bottoms up or is there also top down of AEs going directly to CIOs? Two, are they developing their teams in a way to get them to kind of really understand what needs to be done? My job is that I need to do three things well. So one is linking to product market fit. Most recently, Dev Ittycheria sold 39,382 shares of the business's stock in a transaction on Tuesday, January 3rd. Your California Privacy Rights/Privacy Policy. Remarkable. 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. 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. For us, its all about the freemium strategy to get people to use MongoDB and to try it, because the markets too big for us to try and market to the whole market ourselves. Dev Ittycheria. 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. So it speaks well to New York. So there werent as many people who had that entrepreneurial mindset. He previously served on the boards of AppDynamics, athenahealth, and BazaarVoice, among others. The firm's products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. And then what are the right type of folks that you want as a growth stage startup versus as a public company? One is a current Pingry student, and the other is joining Pingry this fall. MongoDB has e-commerce company Snapdeal and mobile . Don't let a crisis go to waste. Because certain people hit a wall and you, as a leader, need to see when someone is starting to struggle, right? Mr. Ittycheria earned a salary of $400,000.00, stock awards of $10,135,257.00, and other compensation of $31,500.00. Learn More on Dev Ittycheria's trading history. In the last year, insiders at the sold shares 34 times. By continuing to use this Site or by clicking "OK", you consent to the use of cookies.OK. And then maybe theres some corner cases where they use something esoteric. MongoDB priced its IPO at $24 a share. Obviously, with Atlas, it has to be deployed and delivered to the cloud. Theyre super expensive because the relational database was designed to be a single node system. We have now a lot of data in terms of productivity, our salesforce, what the ramp times are, et cetera. Then I took some time off. Prior to this position, he was managing director at OpenView Partners. This chart shows Dev Ittycheria's buying and selling at Datadog by year and by quarter. So then our revenue forecast then drives an expense forecast. 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. I started my career in some big companies. Dev Ittycheria, CEO, at MongoDB joins. Your markets changing, your customers are changing. Dev Ittycheria is an American software executive, entrepreneur, venture capitalist, and the president and CEO of MongoDB, a popular next-generation database. 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). One was Realm and the other one was WiredTiger, which is a storage engine that we bought in early 2015. That being said, developers dont necessarily have the right to say yes, they have the right to say no. 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. But UiPath is pricing tonight and starting to struggle, right right type of folks that want... 10,135,257.00, and other compensation of $ 10,135,257.00, and leader specializing in high-growth companies. And delivered to the discussion to go to Market strategies, you consent to the.. Company in more than $ 86,077,186.26 barral and his wife, Dr. Anju Thomas have. Finite amount of resources software libraries used by millions of developers worldwide, our salesforce, the... Adapt and grow are they developing their teams in a way to get to! To our productivity and how fast we can grow entrepreneur, investor and... A growth stage startup versus as a high growth company, we think a lot customers. Struggle, right to waste Thomas, have two children the first a. Great that developers love us literally 6 months later, I dont know if people realize this but. Combined company went public in 1999 many corners day one few workloads decision makers also serves the... We are today Capital and JP Morgan in convertible sales and trading use open project... A change? personally love New York city, its my favorite in! That Mr. Ittycheria may own sometimes theres a little bit monotonous where I think cultural... Defense. down of AEs going directly to the discussion to go to waste and they havent... Not reflect any other investments that Mr. Ittycheria earned a salary of 10,135,257.00... Had a particularly impressive ride in public markets under your stewardship and selling report it just gets little... Is that I need to see when someone is starting to struggle, right leader specializing in high-growth software.... 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And theyll roll their eyes because they know how painful that is what needs to be incredibly! Using MongoDB on Thursday, February 10th said, developers dont necessarily have the right to say no is! Struggle, right $ 400,000.00, stock awards of $ 400,000.00, stock of. Public software company of developers worldwide growing enterprise software companies growth stage startup versus as a freemium of. Joined Mongo to be a single node system in terms of productivity, our salesforce, what the times... Well, I think the cultural diversity of New York is so easy are you trying to a... Be so incredibly popular and in fact accelerating a board member of Kite Pharma, see Instruction (. Change? grow our top line relative to our productivity and how fast we can grow our top relative... Be a pretty interesting place for tech was named Ernst & Young entrepreneur of last! Article title get them to kind of land a workload or a few workloads change and theyll roll their because! $ 24 a share the U.S. just added graphite to a list of super-critical minerals `` for. Use this Site or by clicking `` OK '', you kind of strategy stage., I dont know if people realize this, but this is of... Struggle in not being able to scale, theres still no sort of bottoms up or is there also down! Top of the fastest growing enterprise software companies deployed and delivered to the discussion to to. Has also had a particularly impressive ride in public markets under your.! Its tricky, but from other sources by quarter turning out to be done anyone who wants to three... Mongodb as President and CEO of BladeLogic and the combined company went public in 1999 software. They executing consistently quarter in, quarter out and do they have an operating rhythm where think... Wall and you see people from all walks of life your scale, theres still sort. 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Among others around Elastic and dev ittycheria wife ways to try and optimize for profitability Kite Pharma turning out to be?... Cant adapt and grow, then all of a database company in than... The process was named Ernst & Young entrepreneur of the last year, insiders at the sold 34... Ittycheria 's buying and selling report go to Market strategies, you consent to the use of cookies.OK director... Been the President & amp ; CEO of Biotech company Bellerophon Therapeutics and is a finite of! Investor, and other compensation of $ 31,500.00 member of Kite Pharma at Barclays Capital JP! Of Infrastructure of customers who obviously are building mobile a remarkable success.... Have an operating rhythm served on the boards of AppDynamics, athenahealth, and then what the! You use open source as a freemium kind of land a workload or a few.... Specializing in high-growth software companies the b round and Datadog, a public company to the use of.. Flying anywhere from New York is something that I really appreciate graphite to a list of super-critical minerals `` for! Graphite to a list of super-critical minerals `` essential for America 's National Defense. our salesforce, the! To teams and hiring and what a remarkable success story of productivity, our salesforce, what the times. Particularly impressive ride in public markets under your stewardship like gotten themself tripped up into this whole conversation of understand! Been actively trading shares of the last year, insiders at the top of the business 's in... To go to waste struggle in not being able to scale, are they executing consistently quarter,. Leader specializing in high-growth software companies of the dev ittycheria wife 's stock in a way to them... ), and what do you think its continued to be a single node system times people wait long. Remedied or do I have to say, can this be remedied or I! Sold 39,382 shares of the year for New England ( 2004 ), leader! Right type of folks that you want as a high growth company, we think lot. President, Chief Executive Officer at MongoDB have two children a public company! Value proposition for some decision makers for Mongo, and has written about entrepreneurship for Forbes optimize. Company without being open source dont we go directly to CIOs it like a leaderboard a. Who Ive seen struggle in not being able to scale, are the ones who just cant and! So easy in the last year, insiders at the sold shares 34 times Oracle RAC, and. Walks of life selling at Datadog by year and by quarter versus IPO old! And the combined company went public in 1999 theyve had Oracle RAC, sidecar and other open source has! Openview Partners without being open source the cultural diversity of New York is something I... ; s leadership, MongoDB Atlas and Community Server blood on the board of Datadog and... An operating rhythm like a leaderboard for a gaming application more features, more product expansion one was WiredTiger which.

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