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. MongoDB has e-commerce company Snapdeal and mobile . And obviously our investors also see a return of the investment. And then obviously capital was super expensive. So its allowed us to build a real business, allowed us to invest back into the product. What does that look like? And actually I led the B round at Datadog. Berndt and her husband Andy and have two children, both of whom attend Pingry. In a moment of vivid candor, MongoDB CEO Dev Ittycheria set aside any pretense of open source community building and made it clear that open source, for MongoDB, is all about money: "We open . If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. I still stayed on the Datadog board and Im actually on the board today. So access to the world from New York is very easy and I like the heterogeneity of the culture. * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). Mr. Ittycheria owns 190,264 shares of MongoDB stock worth more than $39,949,732 as of March 2nd. He founded two companies, led and scaled multiple software companies, and made personal and institutional investments in a number of other disruptive software companies. Select Personal Finance. Your California Privacy Rights/Privacy Policy. 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. This net worth evaluation does not reflect any other investments that Mr. Ittycheria may own. Dev Ittycheria is an American software executive and venture capitalist based in New York City's Silicon Alley, currently serving as CEO of MongoDB Inc.[2], Prior to MongoDB, Ittycheria co-founded BladeLogic in 2001 and worked as the companys chief executive until it was bought by BMC for $900 million. So obviously with our strategy, were not changing that every day. 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. The company was incorporated in 2010 and is headquartered in New York, New York. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. I can only imagine how many emails and pings you got, just now while you were kindly spending time with us. 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. They want to standardize and say a modern standard like MongoDB, maybe a relational standard like Postgres. 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. This chart shows Dev Ittycheria's buying and selling at MongoDB by year and by quarter. Leading developers and publishing technical content for over a decade. Learn More on Dev Ittycheria's trading history. The shares closed at $32.07 after the first day of trading, over 30% higher than the IPO price. Balanced lives continue to make great business sense. So theres a little bit of sausage making in the process. So we really financed the business through customers and we ended up going public in 2007. Thank you for having me. Elliot S. Berndt will serve as president of the Pingry School Parents Association (PSPA) for the 2015-16 school year. Earlier in his career Dev was Founder and Chief Executive Officer of Applica, one of the first venture-backed cloud companies. Is this a fatal flaw? Chart Data in Insider Trading History Table. (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. 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. For example, Snowflake is not an open source company. Balanced lives continue to make great business sense. MongoDB serves customers worldwide by providing an open-source database platform for automating, monitoring, and deployment backups. I really appreciate it. And typically we see a lot of consolidation happening now in large companies. Amy B. Saunders is a licensed attorney, having been admitted to the bar in New Jersey, Pennsylvania, Colorado, and Washington, D.C. 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. How are demographic shifts creating long-term challenges for labor supply in the US? At some point you have to say, Can this be remedied or do I have to make a change?. Author of various open-source dev-tools and software libraries used by millions of developers worldwide. So you just have to make sure theres enough out there that you can monetize to build a healthy business. As the CEO of MongoDB, Inc., Mr. Ittycheria earned a total compensation package of $10,566,757.00 in 2022. Dev joined MongoDB in 2014 with a strong mix of entrepreneurial, operational and investing experience. 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. So thats why weve gotten so much popularity and thats why weve taken off. Like, oh my God, the adoption that people would say, youre not open source anymore. In his past career Mr. Ittycheria was President & Chief Executive . So its literally like having two cups of coffee a month to we have customers now spending more than seven figures with us on Atlas. 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. I mean, Oracle was founded in 1977. 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. MongoDB, Inc. engages in the development and provision of a general-purpose database platform. Insiders at MongoDB own 5.7% of the company. Saunders is an active volunteer for Pingry, and has been involved with many committees. 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. Dev began his professional career at large and growth-stage telecom companies developing advanced broadban .. Read More, Get notified of the Biography of World Famous Personalities. Now, why is that important? Whos moving up? So once youre clear on the strategy, then a lot of the focus is on people. Ittycheria serves on the board of Datadog, a public software company. I have a GC in California and our philosophy is lets hire the best talent, no matter where they are within reason. SAS remains strongly committed to providing the whole employee experience - meaningful work You know, theyve had Oracle RAC, sidecar and other ways to try and replicate. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. 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. 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. Whos moving sideways? What I mean by that is you constantly have to work at your trade craft. They can kill a deal by saying, Ill never use MongoDB and youre done. 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. 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. Prior to that, Dev spent the early part of his career in the telecom industry focused on developing, marketing and managing advanced broadband data services for large enterprise customers. And so I said, why dont I do that? Dev Ittycheria is the President and Chief Executive Officer at MongoDB. Jonathan M. Peacock is chairman and CEO of Biotech. If youre just trying to build a product to just get adoption and you dont really care about monetizing, then open source makes sense. You can help Wikipedia by expanding it. So data lakes, search, online archive and Realm, which was an acquisition, I believe. So it speaks well to New York. First name: Dev Last name: Ittycheria Profile image: Profile summary: 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. Learn More on Dev Ittycheria's trading history. 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. Max Schireson, the company's current CEO, will become Vice Chairman and remain with the company full time after transitioning the CEO role, said a company release. Yes. We encourage our salespeople to go slow to go fast. So theyre motivated to drive those workloads to the cloud. So youll see us expand into other capabilities that developers need to build applications. Think about supply chain apps where you have to have real-time information. Awais loves the purple color; purple can be genius. And today were approaching 4,000 people and about $700 million in run rate. 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. If youre a young startup, is that the way to go or is there an evolution there? 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? He and his wife Kathleen have one child attending Pingry. 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. Award-winning Open Source Engineer and VP of Developer Relations. Dev currently serves as lead independent director of the board of directors of Datadog, Inc., a public software company. And people really wanted to maintain their cash comp, but then also have big equity. 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. Correct. But just because they like MongoDB it doesnt mean that youre going to get a check in the mail from the customer, right? So thats the ideal state. Thats just what I seem to really get excited about. You shouldnt just be open source for the sake of being open source. Jonathan M. Peacock is chairman and CEO of Biotech company Bellerophon Therapeutics and is a board member of Kite Pharma. Biography of Dev Ittycheria. Well, I think the first thing is youve got to have strong product market fit. So we had a lot of customers who obviously are building mobile. Share Background Report Overview of Dev C Ittycheria Lives in: Warren, New Jersey Phone: View phone number Age: 56 Dev Ittycheria's Voter Registration Yes, I raised my first round of financing five days before 9/11. Dev graduated from Rutgers University with a B.S. But look at Oracle. 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. 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. . Dev joined MongoDB in 2014 with a strong mix of entrepreneurial, operational and investing experience. Mars Ingenuity helicopter code contributor. First, you kind of land a workload or a few workloads. Itd be foolish to try and optimize for profitability. Lets make it a standard. And Elastic themselves are growing more towards the security space than application search. So youre still going to see a lot of Oracle out there. We recognize the markets large enough and we feel like were well positioned. Obviously its been a pleasure to work with Oli and the team there. 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. 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 . So you need to make sure you invest in both, right? Literally there is not one country, once city in the world, I dont think someones not using MongoDB. In its last fiscal year,. Were talking about a company thats now 44 years old and they still havent solved the scalability problem. Prior to this position, he was managing director at OpenView Partners. AboutPressCopyrightContact. So that is growing at about a 66% annualized growth rate. The company describes DocumentDB as a "fast, scalable, and highly available document database that . Currently, Mr. Ittycheria holds the position of President, Chief. This net worth estimate does not reflect any other investments that Mr. Ittycheria may own. And so we feel good about the opportunity in front of us. Leading database company MongoDB has appointed IT veteran Dev Ittycheria as President and CEO. They live in Far Hills and have a child attending Pingry. 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