Dev is registered to vote in Somerset County, New Jersey. He also serves on the new stadium development team, set to open in 2016. But obviously you also have to recruit outside for a certain set of skills that you may not have in the organization. Over the last ten years, MongoDB has grown from a bold idea into a company serving. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. And then as you know theres been a lot of friction between AWS and Elastic and other open source companies. MongoDBs path from unlikely NYC enterprise tech startup to global category leader has been amazing to watch. Under Dev's leadership, MongoDB has released innovative . 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. Jonathan M. Peacock is chairman and CEO of Biotech company Bellerophon Therapeutics and is a board member of Kite Pharma. And obviously our investors also see a return of the investment. RATINGS AND. All right. So you can thrive as an infrastructure company without being open source. During the last ninety days, Dev Ittycheria has sold $7,874,824.72 in shares of MongoDB stock. As a member of Board of Directors at Datadog, Inc., Dev Ittycheria made $258,183 in total compensation. I have a GC in California and our philosophy is lets hire the best talent, no matter where they are within reason. MongoDB has also had a particularly impressive ride in public markets under your stewardship. MongoDB, Inc. (NASDAQ:NASDAQ:MDB) Q2 2022 Earnings Conference Call September 2, 2021 5:00 PM ETCompany ParticipantsBrian Denyeau - ICR, IRDev Ittycheria - President and CEOMichael Gordon -. So theres a lot of healthy partnership there. Its not always a CIO, it could be the VP of Infrastructure. Dev currently serves as lead independent director of the board of directors of Datadog, Inc., a public software company. Detailed information on the use of cookies on this site is provided in ourcookie policy. 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. They purchased a total of 1,150,006 shares worth more than $79,339,605.34. Getting revenue from your customers. But what people forget is that the first thing people dont say is open source or not, they say, does this technology solve my problem? Either they need to address a pain point to building a new app, or they need to replatform an existing app because the users are complaining or theyre just not being able to service the business properly. And they said, this is crazy. And in our business, its a land expand. We dont want to do that. So you have to then translate developer enthusiasm and interest into a real business value proposition for some decision makers. Learn More on Dev Ittycheria's trading history. 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. 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. Learn More about Dev Ittycheria's net worth. Enter your email address to subscribe to this blog and receive notifications of new posts by email. Have some success, build a relationship, get some confidence built around MongoDB, and then go after a new business. He currently serves as the President & CEO of MongoDB. And sometimes whos moving backwards. Leading database company MongoDB has appointed IT veteran Dev Ittycheria as President and CEO. I personally love New York city, its my favorite city in the world. Were talking about a company thats now 44 years old and they still havent solved the scalability problem. And so, one day you might find AWS competing with you and your core business. 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. Previously being a founder, operator, investor and board member has given him a "360 degree" perspective of businesses, which informs his approach to leadership and building companies. And then you keep adding more stuff to it, like more features, more product expansion. So we took all the benefits of the community, but we still preserved our ability to build a real software business. 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. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. MongoDB is designed from the ground up to be highly scalable. So you need to make sure you invest in both, right? At some point you have to say, Can this be remedied or do I have to make a change?. And our focus is really helping developers use data to build amazing applications. So essentially almost two a year, right? A question from Alan, about was your strategy growing by acquisition and integration versus organically. It just gets a little bit monotonous where I think the cultural diversity of New York is something that I really appreciate. So Realm had gotten a lot of traction, but they also needed to synchronize data from the edge to the core. May 3, 2016. It also offers professional services including consulting and training. You were trying to recruit from the big banks and so forth. 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. Think about it like a leaderboard for a gaming application. In his 2019 interview, MongoDB CEO Dev Ittycheria confirms that MongoDB Inc. does not care about working with the open source community to make MongoDB better, as their focus is on their freemium strategy: "MongoDB was built by MongoDB. And then we triage which ones do we want to invest in new, which product is going well, which products were to shut down? Thank you for having me. 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. So youre always trying to find that fine balance in terms of what the paywall is. 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. Get notified of the Biography of World Famous Personalities. Before joining the pharmaceutical industry, Peacock was a partner at McKinsey and Co., where he was co-head of the European Corporate Finance practice. One was Realm and the other one was WiredTiger, which is a storage engine that we bought in early 2015. 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). We recognize the markets large enough and we feel like were well positioned. Remarkable. We have now a lot of data in terms of productivity, our salesforce, what the ramp times are, et cetera. Well, I think you first have to ask yourself, why are you trying to be an open source? All right, to close maybe just a couple of questions from the group. Now, obviously thats at the senior level, maybe the ops people may feel a little threatened, but they also realize that they can add more value to the organization without having to day-to-day manage MongoDB. 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. In the last year, Datadog insiders bought shares 4 times. Very good. Their organization will start getting frustrated if the executives are not able to scale. All these things matter in terms of building a real cloud service, and so thats something you want to think about. Yeah, weve made three acquisitions and two of them were non-revenue acquisitions, they were more technology acquisitions. Ittycheria led the companys 2017 IPO, the first of a database company in more than 26 years. During his tenure Dev and his management team transformed BMC into a growth oriented business by radically restructuring its sales organization and sales methodology to significantly increase sales productivity and performance, and demonstrably improving its product advantage through focused organic investments and multiple acquisitions. No ones going to use your product. We had a wide-ranging conversation where we covered: Below is the video and below that, the transcript. Learn More on Dev Ittycheria's contact information. @CEDUpdate Most recently, Dev Ittycheria sold 37,500 shares of the business's stock in a transaction on Thursday, February 10th. Learn More about Dev Ittycheria's net worth. 5. Information on this page was last updated on 1/3/2023. Were fortunate, the business then was roughly about 250 people trailing about $30 plus million in revenue. What does that look like? Tue, Jun 15 2021 5:33 PM EDT. And in a high growth business, not everyone scales at the same rate, right? 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. I felt like Id be like a caged tiger. Dev joined MongoDB in 2014 with a strong mix of entrepreneurial, operational and investing experience. By the way, I dont know if people realize this, but UiPath is pricing tonight and starting to trade tomorrow. Literally there is not one country, once city in the world, I dont think someones not using MongoDB. And we knew that we solved a very important problem. So we have never been more popular than we are today. 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. We wanted to leverage the virality of open source to get broad adoption. Most recently, Dev Ittycheria sold 39,382 shares of the business's stock in a transaction on Tuesday, January 3rd. 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. They give us marketing dollars to drive customer demand. Following the acquisition, he served as President of BMC. BY Dev Ittycheria. Were really focused on helping developers build amazing applications and leveraging software and data to do so. 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. Wilf and his wife Rachel have one child. Ittycheria currently serves on the board of directors for public software company, Datadog, and blank-check company, Altimeter Growth Corporation. Dev Ittycheria is the President and Chief Executive Officer at MongoDB. We are very fortunate to be welcoming a terrific new class of trustees. 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. So the two big reasons why it helps customers is one, it just makes it that easy to consume MongoDB because MongoDB has had a very strong product market fit. Leading developers and publishing technical content for over a decade. Obviously its been a pleasure to work with Oli and the team there. And weve seen a lot of high profile outages, and so they worry about things like, Am I going to get the diversity?. Well, I think happiness for a CEO is a great relationship with your board and having a high functioning, cohesive team under you, right? But ultimately we all kind of use that process to galvanize our priorities and what were trying to do. So we really financed the business through customers and we ended up going public in 2007. 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. Yeah, so I think you have to really understand customer buying behavior because even if the CIO says, I want to standardize on MongoDB. They dont have the time or the resources to replatform every app onto MongoDB. Switching to the discussion to Go to Market strategies, you use open source as a freemium kind of strategy. 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. So its gone from zero to being almost half of the companys revenue. [Dev Ittycheria] Correct. Amy B. Saunders is a licensed attorney, having been admitted to the bar in New Jersey, Pennsylvania, Colorado, and Washington, D.C. Id like to talk about lessons in scaling. Join us for a morning of insights, inspiration, valueand breakfast. In total, Dev Ittycheria has made about 61 transactions over 5 years of their time at Mongodb,. Enter your email address below to get our daily insider buying and selling report. Learn More about insider trades at Datadog. And today were approaching 4,000 people and about $700 million in run rate. I would just think of us as we really want to be an application data platform. Developer speed is a proxy for innovation The supercloud is transforming the role of developers. Learn More about Dev Ittycheria's net worth. I led the B round and Datadog, and then literally 6 months later, I joined Mongo to be a CEO. We think that will make MongoDB an even more compelling platform to use. This chart shows Dev Ittycheria's buying and selling at MongoDB by year and by quarter. Ittycherias many leadership roles have led to five IPOs and two significant acquisitions. AWS launched DocumentDB today, a new database offering that is compatible with the MongoDB API. * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). And so I said, why dont I do that? So after IPO, maybe talk to teams and hiring and what do you want to do before IPO versus IPO? And then maybe theres some corner cases where they use something esoteric. Dev Ittycheria, by /s/ Ron A. Metzger, Attorney-in-Fact: 02/14/2022 ** Signature of Reporting Person: Date: Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Biography of Dev Ittycheria. Mr. Ittycheria owns 190,264 shares of MongoDB stock worth more than $39,949,732 as of March 2nd. Were all cheering for Mongo, and what a remarkable success story. 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. Most ppl <35 have never led teams during a difficult economic environment. But at the time it was very hard to recruit people. But look at Oracle. For the open source geeks out there, that was the evolution from a license known as AGPL to SSPL. They can kill a deal by saying, Ill never use MongoDB and youre done. In its last fiscal year,. Weve now embedded that it just makes life so much easier for customers. Learn More about insider trades at MongoDB. Its only maybe a couple hours longer. Datadog, Inc. provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. 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. So when we raised $29 million total and had $7 million in the bank when we filed to go public, we went public in 2007. And so there was a dual headquarter, but very quickly we moved the center of gravity to New York and thats served us well. Those who understand that ruthlessly prioritizing, making hard choices & learning to do more with less are essential leadership skills that will last a lifetime. So you can scale very, very easily using MongoDB. Learn More on Datadog's active insiders. Notify me of follow-up comments by email. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. 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. 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. Class of 1978, in a prepared statement. Are you going after Databricks? CNBC on Peacock. 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. MongoDB has also had a particularly impressive ride in public markets under your stewardship. Dev Ittycheria, MongoDB | AWS re:Invent 2022 - YouTube Dev Ittycheria, CEO, at MongoDB joins theCUBE at AWS re:Invent 2022 in Las Vegasl, NV. Join our upcoming webcast for twitter.com/i/web/status/1. And be very, very clear on that. Itd be foolish to try and optimize for profitability. 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. To build a community of people who wanted to just try and use MongoDB. So there werent as many people who had that entrepreneurial mindset. Learn More on Dev Ittycheria's trading history. Managing a distributed database can be quite challenging. This chart shows Dev Ittycheria's buying and selling at Datadog by year and by quarter. MongoDB has e-commerce company Snapdeal and mobile . 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. I started my career in some big companies. Why do you think its continued to be so incredibly popular and in fact accelerating? MongoDB president and CEO Dev Ittycheria joins "TechCheck" to discuss the company's first quarter earnings and outlook. You dont want to cut too many corners day one. 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. My philosophy in life has always been, always be the student of the game, not the master of the game. Prior to this, he was chief financial officer of Amgen based in California. 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? And that was important to us. I mean, Oracle was founded in 1977. So being able to embed analytics is going to be even more important. 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. Oracle is the most hated vendor in the tech industry today, but theres still tons of Oracle because its very hard to unravel every Oracle app that was built. Thats just what I seem to really get excited about. Well, with a service, with open source as a service, you can monetize everything because youre just paying as you go. 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. So well have a 3rd big, and their valuation I think will be quite large. So we think about how quickly we can grow our top line relative to our productivity and how fast we can hire. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. He is also the Lead Independent Director at . Dev Ittycheria is the Director of Datadog Inc and owns about 441,347 shares of Datadog Inc (DDOG) stock worth over $38 Million . 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. 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. February 13, 2023. 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. So when they basically say why dont you the experts manage it for us? And were not trying to be a data warehouse. And too many times people wait too long to make changes. How do they kind of quickly triangulate on issues and resolve them quickly? MongoDB was founded by developers for developers to provide a database designed for today's modern applications. Well, its more like an application search logic. My job is that I need to do three things well. I thank them for their commitment to Pingry and their leadership in helping drive forward the Schools key initiatives, said Board of Trustees Chair Jeffrey N. Edwards. 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. So it was a very fair trade. So obviously with our strategy, were not changing that every day. And if you give away too much of your product, its very hard to monetize. 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. So you have to really build real competence around your tooling, management infrastructure, your telemetry or your multi tenant architecture. 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. We said, we invest a lot in the product. Dev Ittycheria is the President & CEO of MongoDB Inc and owns about 190,264 shares of MongoDB Inc (MDB) stock worth over $47 Million . Chart Data in Insider Trading History Table. Dev graduated from Rutgers University with a B.S. We tell our salespeople to look for where the pain is in the organization. So one is linking to product market fit. Sometimes theres a little bit of blood on the walls. Is there stuff on their product roadmap that you can talk about? The. And then what are the right type of folks that you want as a growth stage startup versus as a public company? 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. Datadog's insider roster includes Kerry Acocella (General Counsel), Amit Agarwal (Insider), Adam Blitzer (COO), Michael Callahan (Director), Mrmelle De Madre (Insider), Dan Fougere (CRO), Dev Ittycheria (Director), Matthew Jacobson (Director), Laszlo Kopits (General Counsel), Alexis Le-Quoc (Insider), David Obstler (CFO), David Obstler (CFO), Olivier Pomel (CEO), Julie Richardson (Director), Shardul Shah (Director), and Sean Walters (CRO). $ 79,339,605.34 how quickly we can grow our top line relative to our productivity how! Ask yourself, why are you trying to do so of Kite.. Pspas Advisory board and most recently, Dev Ittycheria has over two of... 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In 2007 in run rate deal by saying, Ill never use MongoDB an! Every day owns 190,264 shares of MongoDB stock is chairman and CEO of company. Lets hire the best talent, no matter where they are within reason & # x27 ; net...