Well, with a service, with open source as a service, you can monetize everything because youre just paying as you go. So, global domination. PDF. Dev eventually merged the business with Breakaway Solutions and the combined company went public in 1999. No ones going to use your product. 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. And then we triage which ones do we want to invest in new, which product is going well, which products were to shut down? Whats the strategy behind it? And for additional context, thats a current controversy around Elastic and some stuff like gotten themself tripped up into this whole conversation. [Dev Ittycheria] Correct. The second thing that we announced was Real. 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. And then you can give it to the community and then use crowdsource so that the community makes it better over time. We encourage our salespeople to go slow to go fast. And so, one day you might find AWS competing with you and your core business. Join our upcoming webcast for twitter.com/i/web/status/1. He also serves on the new stadium development team, set to open in 2016. Its frankly, its not aligned to how developers work and as the data model grows, it becomes more and more brittle and its harder to change. So we have to make sure we drive a lot of developer enthusiasm by using MongoDB. 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. Ittycheria and his wife, Dr. Anju Thomas, have two children. So being able to embed analytics is going to be even more important. 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. 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. I still stayed on the Datadog board and Im actually on the board today. Dev Ittycheria is the President and Chief Executive Officer at MongoDB. I think New York is turning out to be a pretty interesting place for tech. I think its absolutely fascinating and super impressive. Were really focused on helping developers build amazing applications and leveraging software and data to do so. Have some success, build a relationship, get some confidence built around MongoDB, and then go after a new business. So youre always trying to find that fine balance in terms of what the paywall is. CNBC on Peacock. In the last year, insiders at the sold shares 34 times. And we want to get that first workload. 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. But the U.S. just added graphite to a list of super-critical minerals "essential for America's National Defense." MongoDBs open source project has continued to explode in popularity. You know, or Dremio or other companies like that? And Ive been to almost every major city in the world. 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? 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. Dev also serves on the board of directors of DataRobot, a private software company. So once youre clear on the strategy, then a lot of the focus is on people. The corporate mailing address for Mr. Ittycheria and other Datadog executives is 620 EIGHTH AVENUE 45TH FLOOR, NEW YORK NY, 10018. Leading database company MongoDB has appointed IT veteran Dev Ittycheria as President and CEO. Over the last ten years, MongoDB has grown from a bold idea into a company serving. Well, if youre a customer in Australia or youre a customer in Canada, Amazon, or say Azure may only have one region. 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. 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 essentially almost two a year, right? Dev Ittycheria is the President and Chief Executive Officer at MongoDB. Mr. Ittycheria earned a salary of $400,000.00, stock awards of $10,135,257.00, and other compensation of $31,500.00. MongoDB president and CEO Dev Ittycheria joins "TechCheck" to discuss the company's first quarter earnings and outlook. During the last ninety days, Dev Ittycheria has sold $7,874,824.72 in shares of MongoDB stock. Learn More on Dev Ittycheria's contact information. Class of 1978, in a prepared statement. Managing a distributed database can be quite challenging. Datadog can also be reached via phone at 866-329-4466 and via email at [emailprotected] Learn More on Dev Ittycheria's contact information. So as data volumes grow, their architecture has limitations. He currently serves as the President & CEO of MongoDB. 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. I have a CTO in Seattle, have a head of sales in Europe. This net worth evaluation does not reflect any other investments that Mr. Ittycheria may own. "The top-ranked employer for workers older than Generation Z was MongoDB, which achieved an average rating of 4.89. Is that for a company of the global scale of Mongo, is that still the core motion? Ittycheria serves on the board of Datadog, a public software company. Atlas essentially allows people to consume MongoDB as a service, as a managed offering, delivered from the cloud (and we run in all these three major cloud providers), and you pay as you go. You know, theyve had Oracle RAC, sidecar and other ways to try and replicate. 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. And then as you know theres been a lot of friction between AWS and Elastic and other open source companies. With its the ease of use, the self-service functionality and other developer-friendly tools, they're. 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. And today were approaching 4,000 people and about $700 million in run rate. And thats a pretty difficult challenge for developers. They can kill a deal by saying, Ill never use MongoDB and youre done. Awais loves the purple color; purple can be genius. 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. And that essentially means that you now have the full organizations endorsement to be the platform of choice. The total sale. As a result of this transformation the company was the clear leader in systems management by far outperforming all relevant competition on the salient financial metrics and overall stock performance. So no one wants to get locked into any one vendor especially say someone like AWS, whos got very broad ambitions as a company. Dev Ittycheria joined MongoDB as President and CEO in 2014 and was formerly co-founder, president and CEO of BladeLogic. Switching to the discussion to Go to Market strategies, you use open source as a freemium kind of strategy. The second thing is the database market has a lot of baggage with Oracles past behavior. And were not trying to be a data warehouse. And that was important to us. MongoDB serves customers worldwide by providing an open-source database platform for automating, monitoring, and deployment backups. The second big challenge is that relational databases are not designed for scale. 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. Why do you think its continued to be so incredibly popular and in fact accelerating? The company was incorporated in 2010 and is headquartered in New York, New York. Balanced lives continue to make great business sense. Dev Ittycheria's largest sale order was 225,000 units , worth over $65.19M on April 9, 2021. 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 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. Datadog is not an open source company, right? Dev was recognized by Ernst & Young as an Entrepreneur of the Year for his strong leadership at BladeLogic, and he has also been publicly acknowledged as one of the pioneers of the SaaS business model. Developer speed is a proxy for innovation The supercloud is transforming the role of developers. They live in Far Hills and have a child attending Pingry. Dev Ittycheria -- President and Chief Executive Officer Thanks, Brian, and thank you to everyone for joining us today. So it went from zero to a $350 million run rate business when we announced our last quarters earnings. Under Dev's leadership, MongoDB has released innovative . And if you just keep trying to run the same playbook, youre going to hit a wall. Thats just what I seem to really get excited about. 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. Previously, Barral was managing director at Barclays Capital and JP Morgan in convertible sales and trading. Here is MongoDB President & CEO Dev Ittycheria. And typically we see a lot of consolidation happening now in large companies. By continuing to use this Site or by clicking "OK", you consent to the use of cookies.OK. By the way, I dont know if people realize this, but UiPath is pricing tonight and starting to trade tomorrow. Think about it like a leaderboard for a gaming application. And they said, this is crazy. The company describes DocumentDB as a "fast, scalable, and highly available document database that . Then a year later, we just got an offer to get bought out by BMC. They say, is it free? So if you constrain the paywall too much, then you have very little adoption. And so I said, why dont I do that? 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. This chart shows Dev Ittycheria's buying and selling at Datadog by year and by quarter. You shouldnt just be open source for the sake of being open source. For Search, what we found was a lot of customers were dual homing data to both MongoDB and say Elastic. They want to standardize and say a modern standard like MongoDB, maybe a relational standard like Postgres. 00:33. Because certain people hit a wall and you, as a leader, need to see when someone is starting to struggle, right? We use open source as a freemium strategy to kind of let people use MongoDB quickly, play with it, tell their friends and leverage the virality of the open source community. We recognize the markets large enough and we feel like were well positioned. Learn More about Dev Ittycheria's net worth. 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. SAS remains strongly committed to providing the whole employee experience - meaningful work We said, we invest a lot in the product. Our focus is only around this predominantly I should say, around the developer, if you read Snowflakes S-1, they never mentioned the word developer, its about the business analysts, the data scientists, et cetera, to help them to get insights of the data. So its allowed us to build a real business, allowed us to invest back into the product. Can I use this free to distribute? Dev graduated from Rutgers University with a B.S. So your impact on the NYC tech ecosystem has just been insane. Dont assume that just because youre successful in the past, you can be successful in the future because your business is changing. In its last fiscal year,. He currently serves as the President & CEO of MongoDB. We bought that just to kind of get some mass customer momentum around atlas. Thank you, Matt. I started my career in some big companies. Dev joined MongoDB in 2014 with a strong mix of entrepreneurial, operational and investing experience. And now we have a very distributed team. They sold a total of 312,343 shares worth more than $86,077,186.26. How do you think about this? That kind of drives our top line forecast. I can only imagine how many emails and pings you got, just now while you were kindly spending time with us. Your markets changing, your customers are changing. 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. And weve seen a lot of high profile outages, and so they worry about things like, Am I going to get the diversity?. Were not trying to compete with Snowflake. Dev Ittycheria is the Director of Datadog Inc and owns about 441,347 shares of Datadog Inc (DDOG) stock worth over $38 Million . Information on this page was last updated on 2/13/2023. Once again, Snowflake is bringing our Data for Breakfast event to London. And all of a sudden I saw these companies get funded. So access to the world from New York is very easy and I like the heterogeneity of the culture. Monetization is not the only one. Dev currently serves as lead independent director of the board of directors of Datadog, Inc., a public software company. Image: Joao-Pierre S. Ruth. MongoDB can also be reached via phone at (646) 727-4092 and via email at [emailprotected] Learn More on Dev Ittycheria's contact information. (The 2016 Big Data Landscape), Resilience and Vibrancy: The 2020 Data & AI Landscape, A Turbulent Year: The 2019 Data & AI Landscape, Firing on All Cylinders: The 2017 Big Data Landscape, Great Power, Great Responsibility: The 2018 Big Data & AI Landscape, Internet of Things: Are We There Yet? I have a GC in California and our philosophy is lets hire the best talent, no matter where they are within reason. Youre running a tech company with offices around the world. 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? Then you find adjacencies to expand into. And obviously in a start-up you have to be willing to trade cash for equity. For more information on howCEDcollects and uses personal data, please visit ourprivacy policy. Theres this tension between bottoms-up and top-down. Tech. 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? So it was a real treat this time to get to chat with CEO Dev Ittycheria, who has been leading the company since 2014, and it particular has presided over the companys remarkable ride in public markets since its 2017 IPO. Well, I think happiness for a CEO is a great relationship with your board and having a high functioning, cohesive team under you, right? 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. But ultimately we all kind of use that process to galvanize our priorities and what were trying to do. 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. MongoDB is designed from the ground up to be highly scalable. Learn More about Dev Ittycheria's net worth. We didnt want to go down that path. And so there was a dual headquarter, but very quickly we moved the center of gravity to New York and thats served us well. And I need to remove any barriers, whether the cultural barriers, financial barriers, organizational barriers, to make sure people are set up for success. Are you going after Databricks? Theres a lot of companies who try and do that and they struggle. And we also think therell be a lot of free usage of MongoDB out there. Do you want to talk about the product expansion thinking? I would just think of us as we really want to be an application data platform. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. So you have to then translate developer enthusiasm and interest into a real business value proposition for some decision makers. You have a multi-cloud offering now, right? Were all cheering for Mongo, and what a remarkable success story. Award-winning Open Source Engineer and VP of Developer Relations. How do you scale yourself? Dev Ittycheria Biography. 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. But obviously with COVID weve learned to collaborate. And actually I led the B round at Datadog. And what essentially Mongo DB did was address two fundamental problems with the relational database. The most recent insider tranaction occured on February, 13th when CEO Olivier Pomel sold 85,637 shares worth more than $7,075,328.94. 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. How do you arbitrage and then how has it evolved over time? Now, why is that important? He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. 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? They purchased a total of 1,150,006 shares worth more than $79,339,605.34. So today MongoDB to your point is everywhere. You dont want to cut too many corners day one. Always have the attitude of I have more to learn, and that to me has paid massive dividends. Prior to MongoDB, Ittycheria was the Co-founder & CEO of BladeLogic and the President of BMC Software. MongoDB has also had a particularly impressive ride in public markets under your stewardship. And I obviously have to acknowledge my team. Theres many reasons to do open source. Learn More on Dev Ittycheria's trading history. Balanced lives continue to make great business sense. We think it would be very unfair for someone to just pick a free version, make money off it and not give anything back. BY Christiaan . So the cheapest paid tier is like 9 bucks a month. And Elastic themselves are growing more towards the security space than application search. Subscribe to CNBC PRO. 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. What I mean by that is you constantly have to work at your trade craft. And our focus is really helping developers use data to build amazing applications. Its just to say, theres a clear strategy there. And no matter how successful you are, right? But before you would run, lets say app A on one cloud, app B on another and app C in another. Were investing for growth, but theres obviously some limit as to how much you can lose so that creates essentially our expense envelope in terms of how much youre going to invest. 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. 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. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. There was obviously some interesting companies, obviously DoubleClick was doing well, and adtech was a big space and new media was another hot area, but hardcore tech was not a placefor the New York. Get notified of the Biography of World Famous Personalities. That average rating was still higher than the top employers for Gen Z." Regardless of the generation you're a part of, MongoDB is a place that cultivates inclusion and provides boundless opportunity for . But obviously you also have to recruit outside for a certain set of skills that you may not have in the organization. Under Devs leadership, MongoDB has released innovative products such as Atlas, its global cloud database, acquired thousands of customers, rapidly expanded operations around the world, grown its business faster and delivered better financial performance than any comparable company in its sector. We dont want to do that. 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 I think thats one. Prior to MongoDB, Ittycheria was the Co-founder & CEO of BladeLogic and the President of BMC Software. Required fields are marked *. This was fascinating. 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. Amy B. Saunders is a licensed attorney, having been admitted to the bar in New Jersey, Pennsylvania, Colorado, and Washington, D.C. Dev Ittycheria, by /s/ Ron A. Metzger, Attorney-in-Fact: 01/10/2022 ** Signature of Reporting Person: Date: Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. So youll see us expand into other capabilities that developers need to build applications. 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. Momentum around atlas is the President of BMC software the sake of being open source has! 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Data, please visit ourprivacy policy feel like were well positioned $ 65.19M on April,! You arbitrage and then how has it evolved over time the sold shares 34 times Chief Officer! Earned a salary of $ 31,500.00 salespeople to go to Market strategies you... Every major city in the past, you use open source project has continued to explode in.. Years, MongoDB has appointed it veteran dev Ittycheria has over two decades of as! Theyve had Oracle RAC, sidecar and other ways to try and that! Just because youre successful in the future because your business is changing said, dont! Can be genius dev ittycheria wife ways to try and do that and they struggle just say, still... Every app onto MongoDB discussion to go fast 620 EIGHTH AVENUE 45TH FLOOR, New,! Challenge is that for a certain set of skills that you now have the attitude of I a! Everybody knows Mongo now we invest a lot of baggage with Oracles past behavior of free usage of MongoDB there! 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