Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. Jonathan M. Peacock is chairman and CEO of Biotech. 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. In fact the cloud providers help subsidize the R&D effort to deploy Atlas on the comp platform, because remember theyre the beneficiaries of these workloads moved to their platform. 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. 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. The most recent insider tranaction occured on February, 13th when CEO Olivier Pomel sold 85,637 shares worth more than $7,075,328.94. He currently serves as the President & CEO of MongoDB. Well, I think happiness for a CEO is a great relationship with your board and having a high functioning, cohesive team under you, right? And in a high growth business, not everyone scales at the same rate, right? Literally there is not one country, once city in the world, I dont think someones not using MongoDB. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. Very good. So you just have to make sure theres enough out there that you can monetize to build a healthy business. Share Background Report Overview of Dev C Ittycheria Lives in: Warren, New Jersey Phone: View phone number Age: 56 Dev Ittycheria's Voter Registration Chart Data in Insider Trading History Table. Theres many reasons to do open source. Earlier in his career Dev was Founder and Chief Executive Officer of Applica, one of the first venture-backed cloud companies. They say, is it free? 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. So obviously theres lots of competing interests. It doesnt make a lot of sense when I look at it from a strategic point of view. We think that will make MongoDB an even more compelling platform to use. Datadog can also be reached via phone at 866-329-4466 and via email at [emailprotected] Learn More on Dev Ittycheria's contact information. Barral and his wife Angela are the parents of a Pingry alumnus and two current Pingry students. PDF. * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). 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. Mr. Ittycheria earned a salary of $400,000.00, stock awards of $10,135,257.00, and other compensation of $31,500.00. 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. So you have to then translate developer enthusiasm and interest into a real business value proposition for some decision makers. Any advice to founders and CEOs about how they can scale themselves? I was ecstatic to see MongoDB featured in this recent CRN Cloud News article. Thats the heart of the whole discussion. A leader has to essentially recruit well. The estimated net worth of Dev Ittycheria is at least $16.88 million as of January 3rd, 2023. In his past career Mr. Ittycheria was President & Chief Executive . But theres some spirit of coopertition and thats like weve been dealing with the big guys, Oracle from day one, Microsoft, and obviously now Amazon. In the last year, insiders at the sold shares 34 times. 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. So they can pick and choose which services to use from which phone providers. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. So youre still going to see a lot of Oracle out there. So then our revenue forecast then drives an expense forecast. Mr. Ittycheria owns 190,264 shares of MongoDB stock worth more than $39,949,732 as of March 2nd. 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. Ittycheria was the co-founder and CEO of BladeLogic, one of the fastest growing enterprise software companies of the last decade. We didnt want to go down that path. 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. * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). The firm's products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. Yes, I raised my first round of financing five days before 9/11. 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. No ones going to use your product. So essentially almost two a year, right? 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. New York, NY 10022-6600|Map, SITE POWERED BY EXPRESSION ENGINE | 2023. I led the B round and Datadog, and then literally 6 months later, I joined Mongo to be a CEO. 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. So 2014 turned out to be a pretty interesting year for me. The second big challenge is that relational databases are not designed for scale. And so, as I said, we only have 1% share and I think were doing quite well. You know, theyve had Oracle RAC, sidecar and other ways to try and replicate. The company was incorporated in 2010 and is headquartered in New York, New York. 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. MongoDB has also had a particularly impressive ride in public markets under your stewardship. Berndt has been a designer for National Geographic magazine and has experience in multimedia publishing and interior design. Like what can they do, how do you incorporate or partner with them? Its more to help developers because we believe that applications of the future and even today are more and more instrumenting the business, applications are now embedding analytics, especially real-time analytics into apps. Dev Ittycheria. If developers dont use our product, we dont have a business. So if you constrain the paywall too much, then you have very little adoption. I can only imagine how many emails and pings you got, just now while you were kindly spending time with us. (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. And the markets very big, so we really focused on organic growth versus trying to grow through acquisition. But before you would run, lets say app A on one cloud, app B on another and app C in another. Then I took some time off. Prior to MongoDB, Ittycheria was the Co-founder & CEO of BladeLogic and the President of BMC Software. Learn More about Dev Ittycheria's net worth. And then you can give it to the community and then use crowdsource so that the community makes it better over time. So it just makes it so much easier to use MongoDB, to build applications, to do it quickly and to do it more powerfully. 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. Youre running a tech company with offices around the world. 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. 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. Dev Ittycheria is the President and Chief Executive Officer at MongoDB. So we took all the benefits of the community, but we still preserved our ability to build a real software business. The Biggest "Missing Ingredient" in the $7 Trillion EV Market. And thats when you see the relationship with the customer grow fast. 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? Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. We dont want to do that. Youre CEO of one and board member of the other. You have a multi-cloud offering now, right? I would just think of us as we really want to be an application data platform. Sometimes theres a little bit of blood on the walls. Perfect timing for a "made in America" graphite company looking to mine, manufacture, and recycle graphite for the booming electric car market. 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 . So with this whole complexity of open source and cloud and the relationship, what do you think of, I guess, open source in 2021 for a young company? And then maybe theres some corner cases where they use something esoteric. The most recent insider tranaction occured on January, 3rd when CFO Michael Lawrence Gordon sold 2,060 shares worth more than $410,578.60. Obviously, with Atlas, it has to be deployed and delivered to the cloud. During the last ninety days, Dev Ittycheria has sold $7,874,824.72 in shares of MongoDB stock. This net worth evaluation does not reflect any other investments that Mr. Ittycheria may own. As they see success you say okay, lets use MongoDB for the next application or replatform an existing application. 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. The. And so, one day you might find AWS competing with you and your core business. Previously, she was associate litigation counsel at WorldCom. 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. Have some success, build a relationship, get some confidence built around MongoDB, and then go after a new business. AWS launched DocumentDB today, a new database offering that is compatible with the MongoDB API. China has owned the graphite market for decades. So once youre clear on the strategy, then a lot of the focus is on people. I think its absolutely fascinating and super impressive. CNBC Councils. So its tricky, but this is part of leadership, right? And so, what you as leader have to do, is this a fixable development issue? 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. And then you keep adding more stuff to it, like more features, more product expansion. Your email address will not be published. So we really financed the business through customers and we ended up going public in 2007. 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. Required fields are marked *. As a CEO, how do you arbitrage between the different needs? Then flying anywhere from New York is so easy. Award-winning Open Source Engineer and VP of Developer Relations. For more information on howCEDcollects and uses personal data, please visit ourprivacy policy. It could be the line of business. Ittycheria and his wife, Dr. Anju Thomas, have two children. And we find the relationship kind of tends to be in three stages. Dev Ittycheria -- President and Chief Executive Officer Thanks, Brian, and thank you to everyone for joining us today. We said, we invest a lot in the product. First, you kind of land a workload or a few workloads. So well have a 3rd big, and their valuation I think will be quite large. Yeah, weve made three acquisitions and two of them were non-revenue acquisitions, they were more technology acquisitions. And in our business, its a land expand. So what customers want to focus on is where am I having the most pain? The community is really I would say our sales leaders sometimes get frustrated because they think the free version competes with us, our paid versions. There was no prior art. So it was a very fair trade. Dev C Ittycheria (age 56) is listed at 4 Firethorn Ct Warren, Nj 07059 and is affiliated with the Democratic Party. We are very fortunate to be welcoming a terrific new class of trustees. Id like to talk about lessons in scaling. Like, oh my God, the adoption that people would say, youre not open source anymore. 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. 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. Thank you, Matt. 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 think about how quickly we can grow our top line relative to our productivity and how fast we can hire. 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. So we have to work with the cloud provider. The most successful open source companies go after big markets, because by definition, you cant monetize all your usage. I think New York is turning out to be a pretty interesting place for tech. This chart shows Dev Ittycheria's buying and selling at Datadog by year and by quarter. Theres this tension between bottoms-up and top-down. And obviously our investors also see a return of the investment. Biography of Dev Ittycheria. You shouldnt just be open source for the sake of being open source. And if you just keep trying to run the same playbook, youre going to hit a wall. Your competition is changing. 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 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. 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. But again, it all depends on what the strategy is. But obviously with COVID weve learned to collaborate. They live in Far Hills and have a child attending Pingry. And people really wanted to maintain their cash comp, but then also have big equity. Developer speed is a proxy for innovation The supercloud is transforming the role of developers. 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. For access to live and exclusive vide. Dev Ittycheria is the President and Chief Executive Officer at MongoDB. Learn More on Dev Ittycheria's trading history. Image: Joao-Pierre S. Ruth. So when they basically say why dont you the experts manage it for us? The database firm turned in total revenues of $303.6 million, with a net loss of $118.9 million, up from $77.1 million a year ago. And actually I led the B round at Datadog. They sold a total of 897,213 shares worth more than $88,522,836.60. 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. Learn More about insider trades 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 . Credit: Dev Ittycheria, MongoDB . 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. Berndt and her husband Andy and have two children, both of whom attend Pingry. If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. 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). Dev was appointed to the board of Altimeter Growth Corporation in 2020, a public special purpose investment vehicle formed to invest in a technology company. Under Dev's leadership, MongoDB has released innovative . Most ppl <35 have never led teams during a difficult economic environment. Learn More on Dev Ittycheria's trading history. Learn More about Dev Ittycheria's net worth. Managing a distributed database can be quite challenging. Get notified of the Biography of World Famous Personalities. What I mean by that is you constantly have to work at your trade craft. And as you get more and more traction, the velocity of the new wins start accelerating. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. 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. Earlier in his career, he co-founded the software company Applica and served as president and CEO until it was purchased by Breakaway Solutions. And our goal is to be the standard where we can go after 80% of the use cases. Dev Ittycheria has not been actively trading shares of Datadog during the last quarter. February 13, 2023. 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. We encourage our salespeople to go slow to go fast. 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? How do you think about this? Its not always a CIO, it could be the VP of Infrastructure. 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. Dev Ittycheria is 53, he's been the President, Chief Executive Officer e Director of MongoDB Inc since . Is that sort of bottoms up or is there also top down of AEs going directly to CIOs? 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. They align the sales compensation to incentivize working that have their sales people work with us. 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. He currently serves as the President & CEO of MongoDB. Dev Ittycheria joined MongoDB as President and CEO in 2014 and was formerly co-founder, president and CEO of BladeLogic. 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. And our focus is really helping developers use data to build amazing applications. May 3, 2016. I still stayed on the Datadog board and Im actually on the board today. 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. It also offers professional services including consulting and training. MongoDB, Inc. engages in the development and provision of a general-purpose database platform. I need to be very clear on what our strategy is, at least the next couple of years. Dev also serves on the board of directors of DataRobot, a private software company. Leading database company MongoDB has appointed IT veteran Dev Ittycheria as President and CEO. Wilf and his wife Rachel have one child. 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. And no matter how successful you are, right? I really appreciate it. So we have to make sure we drive a lot of developer enthusiasm by using MongoDB. (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? 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. Before MongoDB, Dev was a Managing Director at OpenView Venture Partners and before that he was a Venture Partner at Greylock Partners. 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. 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. In the last year, Datadog insiders bought shares 4 times. We wanted to leverage the virality of open source to get broad adoption. We partner with them on events. Correct. 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. We partner with them on deals. Your markets changing, your customers are changing. Use cases there is not one country, once city in the world Ittycheria may own Peacock chairman! Class of trustees broad adoption services including consulting and training or partner with?. 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