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Then a year later, we just got an offer to get bought out by BMC. But ultimately we all kind of use that process to galvanize our priorities and what were trying to do. We encourage our salespeople to go slow to go fast. February 13, 2023. Learn More on Dev Ittycheria's trading history. And so weve automated that for developers and made it really easy. We dont have to manage two systems, learn two platforms, etc. 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. And were not trying to be a data warehouse. SAS remains strongly committed to providing the whole employee experience - meaningful work In terms of development, I think you bring up a very important point. So the cheapest paid tier is like 9 bucks a month. And three, are they executing consistently quarter in, quarter out and do they have an operating rhythm? Tech. 845 Third Avenue They sold a total of 312,343 shares worth more than $86,077,186.26. Theyve done a fantastic job. 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. To build a community of people who wanted to just try and use MongoDB. Jonathan Z. Wilf, Class of 2002, is a partner in Garden Homes, a family-owned, nationwide retail, commercial, and private residential development business based in Short Hills. This chart shows Dev Ittycheria's buying and selling at Datadog by year and by quarter. 5. And they said, this is crazy. And our focus is really helping developers use data to build amazing applications. Information on this page was last updated on 2/13/2023. Dev C. Ittycheria Lead Independent Director, Datadog, Inc. Dev C. Ittycheria founded BladeLogic, Inc. and Applica Corp. Well, yeah, I mean, we havent really seen a competition with the community. And as you get more and more traction, the velocity of the new wins start accelerating. So once youre clear on the strategy, then a lot of the focus is on people. Developer speed is a proxy for innovation The supercloud is transforming the role of developers. Barral and his wife Angela are the parents of a Pingry alumnus and two current Pingry students. She has served on the PSPAs Advisory Board and most recently was first vice president of the Executive Board. And so, as I said, we only have 1% share and I think were doing quite well. He currently serves as the President & CEO of MongoDB. So imagine if we had three or 5% share, wed be a very, very large company. Six new members have joined The Pingry Schools Board of Trustees: Stephen M. Barral of Bernardsville, Elliot S. Berndt of Maplewood, Dev C. Ittycheria of Warren, Jonathan M. Peacock of Morristown, Amy B. Saunders of Far Hills, and Jonathan Z. Wilf of Short Hills. Dont assume that just because youre successful in the past, you can be successful in the future because your business is changing. 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. And what I have to work on now to make sure that I get that kind of outcome. Those are the people I see tend to really grow and evolve as a leader. 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 . Leading developers and publishing technical content for over a decade. MongoDBs open source project has continued to explode in popularity. All right. Biography of Dev Ittycheria. Berndt has been a designer for National Geographic magazine and has experience in multimedia publishing and interior design. Required fields are marked *. Dev is currently a member of the board of directors for Athena Health (Nasdaq: ATHN) and Bazaarvoice, and serves as an advisor to a number of leading private equity and venture capital firms. 8th GitHub Stars Award recipient. Select Personal Finance. 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. Get notified the next time Dev Ittycheria buys or sells Datadog stock. That was inspiration to start BladeLogic, just starting 2001, which was essentially, you were building a data center automation platform to help people provision, configure and manage service and data center, because as people move to these kinds of distributed architectures, all the complexity was the backend. So today MongoDB to your point is everywhere. Prior to this position, he was managing director at OpenView Partners. They want to standardize and say a modern standard like MongoDB, maybe a relational standard like Postgres. Were not trying to compete with Snowflake. China has owned the graphite market for decades. That being said, developers dont necessarily have the right to say yes, they have the right to say no. And what are the things that I need to be able to do by that time frame? So we had a lot of customers who obviously are building mobile. And too many times people wait too long to make changes. The second thing that we announced was Real. And all those tenets still apply. They sold a total of 897,213 shares worth more than $88,522,836.60. 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. 00:33. Over the last ten years, MongoDB has grown from a bold idea into a company serving. Yeah, weve made three acquisitions and two of them were non-revenue acquisitions, they were more technology acquisitions. One is a current Pingry student, and the other is joining Pingry this fall. BY Christiaan . 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. 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. He currently serves as the President & CEO of MongoDB. Obviously, with Atlas, it has to be deployed and delivered to the cloud. Stephen M. Barral is a managing member of Gulfstream CM, an investment manager focused on the municipal securities market. I mean, Oracle was founded in 1977. But we think that thats part of open source. 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. Weve now embedded that it just makes life so much easier for customers. You can help Wikipedia by expanding it. The company was incorporated in 2010 and is headquartered in New York, New York. And you see people from all walks of life. 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. 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). This article about a United States businessperson is a stub. Don't let a crisis go to waste. And I obviously have to acknowledge my team. Datadog is not an open source company, right? Thats just what I seem to really get excited about. And all of a sudden I saw these companies get funded. Think about supply chain apps where you have to have real-time information. 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. Remarkable. Theres a lot of companies who try and do that and they struggle. 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. I felt like Id be like a caged tiger. * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). So if you constrain the paywall too much, then you have very little adoption. The company is growing at a 40% rate and doing remarkably well, Jim Cramer said. Were fortunate, the business then was roughly about 250 people trailing about $30 plus million in revenue. Think about it like a leaderboard for a gaming application. A leader has to essentially recruit well. And the exact people who Ive seen struggle in not being able to scale, are the ones who just cant adapt and grow. In the last year, Datadog insiders bought shares 4 times. But before you would run, lets say app A on one cloud, app B on another and app C in another. And thats when you see the relationship with the customer grow fast. We partner with them on events. 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. Prior to MongoDB, Ittycheria was the Co-founder & CEO of BladeLogic and the President of BMC Software. At the time representing by definition 0% of revenue, and then it progressed to presenting 23% of revenues in fiscal year 2019, 39% in 2020, and now 46% in 2021. They dont want to use a new database for every new use case. Notify me of follow-up comments by email. Before MongoDB, Dev was a Managing Director at OpenView Venture Partners and before that he was a Venture Partner at Greylock Partners. He previously served on the boards of AppDynamics, athenahealth, and BazaarVoice, among others. But again, it all depends on what the strategy is. As the CEO of MongoDB, Inc., Mr. Ittycheria earned a total compensation package of $10,566,757.00 in 2022. And actually I led the B round at Datadog. So, global domination. For more information on howCEDcollects and uses personal data, please visit ourprivacy policy. Your organization is changing. In its last fiscal year,. Whats the strategy behind it? Learn More on Dev Ittycheria's trading history. Whos moving up? 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. I need to be very clear on what our strategy is, at least the next couple of years. A lot of people sometimes confuse us, are you competing with Snowflake? 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. In the last year, insiders at the sold shares 60 times. They can kill a deal by saying, Ill never use MongoDB and youre done. SAS remains strongly committed to providing the whole employee experience - meaningful work I think its absolutely fascinating and super impressive. Well, that feels like a great place to end. Mr. Ittycheria earned a salary of $400,000.00, stock awards of $10,135,257.00, and other compensation of $31,500.00. 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. Its not all tech all the time and in the Valley, you go to a soccer game and you just run into VCs and entrepreneurs and engineers. Were all cheering for Mongo, and what a remarkable success story. What I mean by that is you constantly have to work at your trade craft. And they said, we really want to embed all our OTP functionality along with application search in one platform, its much easier to maintain. Yes, I raised my first round of financing five days before 9/11. Well, if youre a customer in Australia or youre a customer in Canada, Amazon, or say Azure may only have one region. Currently, Mr. Ittycheria holds the position of President, Chief. Leading database company MongoDB has appointed IT veteran Dev Ittycheria as President and CEO. Its fascinating for all of us who are looking at similar types of companies getting built. Monetization is not the only one. Its just that our customer diversity wasnt as good as it should have been. This net worth estimate does not reflect any other investments that Mr. Ittycheria may own. 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. And then you keep adding more stuff to it, like more features, more product expansion. Its all over. What does Atlas do, so folks can wrap their minds around it. You know, or Dremio or other companies like that? We dont want to do that. How do you work with cloud vendors? Dev eventually merged the business with Breakaway Solutions and the combined company went public in 1999. Obviously its been a pleasure to work with Oli and the team there. Learn More about Dev Ittycheria's net worth. First, you kind of land a workload or a few workloads. New York, NY 10022-6600|Map, SITE POWERED BY EXPRESSION ENGINE | 2023. The. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. 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. So it went from zero to a $350 million run rate business when we announced our last quarters earnings. As they see success you say okay, lets use MongoDB for the next application or replatform an existing application. Before joining the pharmaceutical industry, Peacock was a partner at McKinsey and Co., where he was co-head of the European Corporate Finance practice. Switching to the discussion to Go to Market strategies, you use open source as a freemium kind of strategy. Yes. 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. Is that for a company of the global scale of Mongo, is that still the core motion? And in our business, its a land expand. Youre CEO of one and board member of the other. 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. Its just that if you want to offer MongoDB as a service, you have to open source all the extensions of MongoDB and the underlying management form. Subscribe to CNBC PRO. 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. Those who understand that ruthlessly prioritizing, making hard choices & learning to do more with less are essential leadership skills that will last a lifetime. 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. 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. Dev graduated from Rutgers University with a B.S. 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. 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. We need to make MongoDB a standard. So it allowed us to really capture value, but still also give compelling value to our customers. During his tenure, MongoDB has launched innovative products like cloud database, Atlas, garnered numerous customers, outperformed comparable competitors financially, and expanded operations worldwide. Now Amazons trying to make some extensions with Aurora to kind of make relational databases suck less, but they fundamentally have scalability problems. So our community benefits from the continued innovations in the product. And so I think the line or distinction between mobile and web apps will blur when you have that kind of network performance. 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. You dont want to cut too many corners day one. 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? As a member of Board of Directors at Datadog, Inc., Dev Ittycheria made $258,183 in total compensation. Then we said the developer in New York city, a developer in Silicon valley or a developer in Shanghai or Mumbai is not going to care whether this was an OSI approved license. So it was a very fair trade. And Ive been to almost every major city in the world. 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. So that is growing at about a 66% annualized growth rate. We think that will make MongoDB an even more compelling platform to use. AWS launched DocumentDB today, a new database offering that is compatible with the MongoDB API. 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. I led the B round and Datadog, and then literally 6 months later, I joined Mongo to be a CEO. 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. Sometimes theres a little bit of blood on the walls. Right? Award-winning Open Source Engineer and VP of Developer Relations. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. Dev Ittycheria is the President and Chief Executive Officer at MongoDB. Dev Ittycheria is the Director of Datadog Inc and owns about 441,347 shares of Datadog Inc (DDOG) stock worth over $38 Million . So its allowed us to build a real business, allowed us to invest back into the product. You have to ask yourself, why is open source an important element of the strategy? 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. Before MongoDB, Dev was a Managing Director at OpenView Venture Partners and before that he was a Venture Partner at Greylock Partners. And sometimes whos moving backwards. $70 per post at $7/CPM. Literally there is not one country, once city in the world, I dont think someones not using MongoDB. 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. I also felt like I could add some value to MongoDB. So you have to then translate developer enthusiasm and interest into a real business value proposition for some decision makers. And obviously our investors also see a return of the investment. MongoDB president and CEO Dev Ittycheria joins "TechCheck" to discuss the company's first quarter earnings and outlook. MongoDB, Inc. (NASDAQ:NASDAQ:MDB) Q1 2023 Earnings Conference Call June 1, 2022 5:00 PM ETCompany ParticipantsBrian Denyeau - IR, ICRDev Ittycheria - President and Chief Executive. May 3, 2016. We bought that just to kind of get some mass customer momentum around atlas. So theyre motivated to drive those workloads to the cloud. 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. Save my name, email, and website in this browser for the next time I comment. Get notified of the Biography of World Famous Personalities. This was fascinating. So well have a 3rd big, and their valuation I think will be quite large. Can I use this free to distribute? The shares were sold at an average price of $170.19, for a transaction totalling $6,382,125.00. Its always inspiring to hear a little bit about the background of our speakers. So what customers want to focus on is where am I having the most pain? The most recent insider tranaction occured on February, 13th when CEO Olivier Pomel sold 85,637 shares worth more than $7,075,328.94. Youre running a tech company with offices around the world. Following the acquisition, he served as President of BMC. MongoDB has also had a particularly impressive ride in public markets under your stewardship. CNBC on Peacock. 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. The corporate mailing address for Mr. Ittycheria and other Datadog executives is 620 EIGHTH AVENUE 45TH FLOOR, NEW YORK NY, 10018. BladeLogic was based in Massachusetts, MongoDB was built in New York originally, any thoughts on the ecosystem and building enterprise software out of the East Coast? , new York and web apps will blur when you have to have real-time information its! 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