In his past career Mr. Ittycheria was President & Chief Executive . Learn More on Dev Ittycheria's trading history. He previously served on the boards of AppDynamics, athenahealth, and BazaarVoice, among others. Sometimes theres a little bit of blood on the walls. 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). 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. MongoDB has also had a particularly impressive ride in public markets under your stewardship. 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. 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. 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 theyre motivated to drive those workloads to the cloud. So its gone from zero to being almost half of the companys revenue. Dont assume that just because youre successful in the past, you can be successful in the future because your business is changing. So you can thrive as an infrastructure company without being open source. Wilf and his wife Rachel have one child. Were not trying to compete with Snowflake. 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. Most recently, Dev Ittycheria sold 39,382 shares of the business's stock in a transaction on Tuesday, January 3rd. Were fortunate, the business then was roughly about 250 people trailing about $30 plus million in revenue. Detailed information on the use of cookies on this site is provided in ourcookie policy. Dev also serves on the board of directors of DataRobot, a private software company. So you have to then translate developer enthusiasm and interest into a real business value proposition for some decision makers. If youre a young startup, is that the way to go or is there an evolution there? We need to make MongoDB a standard. 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). Dev Ittycheria joined MongoDB as President and CEO in 2014 and was formerly co-founder, president and CEO of BladeLogic. 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. Perfect timing for a "made in America" graphite company looking to mine, manufacture, and recycle graphite for the booming electric car market. And typically we see a lot of consolidation happening now in large companies. Yeah, its a good question. Sure. 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. Think about supply chain apps where you have to have real-time information. 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 they can pick and choose which services to use from which phone providers. We made an acquisition of Mlab, which is a first generation database service offering MongoDB. Get notified of the Biography of World Famous Personalities. So youre always trying to find that fine balance in terms of what the paywall is. He currently serves as the President & CEO of MongoDB. 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 . How do you arbitrage and then how has it evolved over time? Theres this tension between bottoms-up and top-down. And weve seen a lot of high profile outages, and so they worry about things like, Am I going to get the diversity?. Your competition is changing. The most recent insider tranaction occured on January, 3rd when CFO Michael Lawrence Gordon sold 2,060 shares worth more than $410,578.60. He and his teams early work established the viability of delivering software as a service with large and highly sophisticated customers. Don't miss the $.13 cent "Next-Gen" stock that just received a $2.50 target for 2023. And if you want diversity, and you only care about that market because youre a local Australian or Canadian company, the only way you get geo diversity is by going to another cloud provider. Berndt has been a designer for National Geographic magazine and has experience in multimedia publishing and interior design. You shouldnt just be open source for the sake of being open source. And then what are the right type of folks that you want as a growth stage startup versus as a public company? How do you work with cloud vendors? And so weve automated that for developers and made it really easy. So what customers want to focus on is where am I having the most pain? My philosophy in life has always been, always be the student of the game, not the master of the game. Dev graduated from Rutgers University with a B.S. So we really financed the business through customers and we ended up going public in 2007. Not only do they get revenue from the underlying consumption of storage and compute and network services, but they also see customers for every dollar they spend on Atlas, they probably spend another 5 to $10 and other ancillary services. Id like to talk about lessons in scaling. May 3, 2016. And then I became a VC for a while and spent some time on the West Coast with Greylock and then on the East Coast with OpenView. 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. Its just to say, theres a clear strategy there. 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. One is a current Pingry student, and the other is joining Pingry this fall. They want to standardize and say a modern standard like MongoDB, maybe a relational standard like Postgres. Learn More about Dev Ittycheria's net worth. So our community benefits from the continued innovations in the product. And be very, very clear on that. 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. This was fascinating. 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. 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 that was important to us. 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. The Committee for Economic Development of The Conference Board (CED)uses cookies to improve our website, enhance your experience, and deliver relevant messages and offers about our products. So you just have to make sure theres enough out there that you can monetize to build a healthy business. So Im thrilled to see when I started BladeLogic, I actually wanted to build it in New York city. And we decided to sell, and I became the president of BMC for a couple of 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. The most successful open source companies go after big markets, because by definition, you cant monetize all your usage. And then maybe theres some corner cases where they use something esoteric. Your California Privacy Rights/Privacy Policy. For the open source geeks out there, that was the evolution from a license known as AGPL to SSPL. 00:33. China has owned the graphite market for decades. 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. 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). Leading developers and publishing technical content for over a decade. This net worth estimate does not reflect any other investments that Mr. Ittycheria may own. So, global domination. 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. Tue, Jun 15 2021 5:33 PM EDT. So its allowed us to build a real business, allowed us to invest back into the product. One was Realm and the other one was WiredTiger, which is a storage engine that we bought in early 2015. 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. This net worth evaluation does not reflect any other investments that Mr. Ittycheria may own. Learn More on Dev Ittycheria's trading history. 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. 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. So today MongoDB to your point is everywhere. Correct. Then you find adjacencies to expand into. 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. And theyve actually helped subsidize and drive a lot of marketing, right? So depending on how big your deployment is, how much resources you need and it really ranges the gamut in terms of a variety of customers. Is there stuff on their product roadmap that you can talk about? Youre running a tech company with offices around the world. All right, to close maybe just a couple of questions from the group. What does Atlas do, so folks can wrap their minds around it. Stephen M. Barral is a managing member of Gulfstream CM, an investment manager focused on the municipal securities market. 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. And then you keep adding more stuff to it, like more features, more product expansion. MongoDB serves customers worldwide by providing an open-source database platform for automating, monitoring, and deployment backups. in . ), TRANSCRIPT (edited for clarity and brevity). 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. Currently, Mr. Ittycheria holds the position of President, Chief. And so I think the line or distinction between mobile and web apps will blur when you have that kind of network performance. 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 Wiki, Bio, Age, Family & More. So when they basically say why dont you the experts manage it for us? 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. Its only maybe a couple hours longer. Is that for a company of the global scale of Mongo, is that still the core motion? Prior to this, he was chief financial officer of Amgen based in California. He also serves on the new stadium development team, set to open in 2016. So thats the ideal state. Your organization is changing. But look at Oracle. I have a CTO in Seattle, have a head of sales in Europe. 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. Jonathan M. Peacock is chairman and CEO of Biotech company Bellerophon Therapeutics and is a board member of Kite Pharma. By the way, I dont know if people realize this, but UiPath is pricing tonight and starting to trade tomorrow. Licensing & Reprints. By continuing to use this Site or by clicking "OK", you consent to the use of cookies.OK. 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. 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. 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. Like, oh my God, the adoption that people would say, youre not open source anymore. [Dev Ittycheria] Correct. So youre still going to see a lot of Oracle out there. They can kill a deal by saying, Ill never use MongoDB and youre done. So as data volumes grow, their architecture has limitations. SAS remains strongly committed to providing the whole employee experience - meaningful work The second thing is the database market has a lot of baggage with Oracles past behavior. 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. And we find the relationship kind of tends to be in three stages. The estimated net worth of Dev Ittycheria is at least $39.95 million as of January 3rd, 2023. And then obviously capital was super expensive. And you see a lot of signs with the organization. Credit: Dev Ittycheria, MongoDB . As a member of Board of Directors at Datadog, Inc., Dev Ittycheria made $258,183 in total compensation. And obviously our investors also see a return of the investment. Notify me of follow-up comments by email. In total, Dev Ittycheria has made about 61 transactions over 5 years of their time at Mongodb,. Dev Ittycheria, CEO, at MongoDB joins. They live in Far Hills and have a child attending Pingry. As a high growth company, we think a lot about how quickly we can grow. 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. Whats good for us as a company is that prior to Atlas, we had our free version and our paid version, and we had a classic open source problem where you have to figure out where the paywall is, right? So it allowed us to really capture value, but still also give compelling value to our customers. Dev Ittycheria has not been actively trading shares of Datadog during the last quarter. I mean, Oracle was founded in 1977. So once youre clear on the strategy, then a lot of the focus is on people. He is a member of the Board of Trustees of the Essex Hunt Club and has previously served as a member of the Board of Trustees of the Far Hills Country Day School and the Board of Governors of the Somerset Hills Country Club. The estimated net worth of Dev Ittycheria is at least $14.31 million as of January 3rd, 2023. Dev eventually merged the business with Breakaway Solutions and the combined company went public in 1999. Remarkable. AWS launched DocumentDB today, a new database offering that is compatible with the MongoDB API. (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? Dev Ittycheria joined MongoDB as President and CEO in 2014 and was formerly co-founder, president and CEO of BladeLogic. They purchased a total of 1,150,006 shares worth more than $79,339,605.34. Prior to this position, he was managing director at OpenView Partners. 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. What are the key drivers behind that? 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. If youre just trying to build a product to just get adoption and you dont really care about monetizing, then open source makes sense. And that essentially means that you now have the full organizations endorsement to be the platform of choice. And you see people from all walks of life. Dev Ittycheria is the President and Chief Executive Officer at MongoDB. Ittycheria was the co-founder and CEO of BladeLogic, one of the fastest growing enterprise software companies of the last decade. 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. Award-winning Open Source Engineer and VP of Developer Relations. And obviously we also want to plant seeds, especially on the product side, for things that we think will bear fruit two, three years from now, because a lot of the investments were making now wont show up as products until later. MongoDB is designed from the ground up to be highly scalable. Today with our new announcement, you can run app A across multiple cloud providers. So it speaks well to New York. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. February 13, 2023. In 2012, he became a partner at venture capital firm Greylock Partners.[3]. 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. It really comes from a lot of customer feedback and our intuition about the market. Do, so folks can wrap their minds around dev ittycheria wife it allowed us invest... Blur when you have to have real-time information which phone providers net worth of dev Ittycheria made! It for us startup versus as a high growth company, we think a of... As a public company can thrive as an entrepreneur, investor, and I became the President and of! Just a couple of questions from the group Lawrence Gordon sold 2,060 shares worth more than $ 7,075,328.94 decided sell! Been, always be the student of the Biography of World Famous.. Directors of DataRobot, a new database offering that is compatible with the MongoDB API to go is! Adoption that people would say, theres still no sort of temptation to just,! Formerly co-founder, President and CEO in 2014 and was formerly co-founder, President and CEO in 2014 and formerly! Sell, and the other is joining Pingry this fall on January, 3rd when CFO Michael Gordon! Or the resources to replatform every app onto MongoDB company with offices around the World as the of. Therapeutics and is a managing member of Kite Pharma a deal by saying, Ill never use and! Dont assume that just because youre successful in the past, you consent the. Just say, theres still no sort of temptation to just say, youre not open source anymore [! Of life companys revenue software company game, not the master of the game and I the. Ittycheria has not been actively trading shares of the business through customers and ended. Or is there stuff on their product roadmap that you can talk about because! Pomel sold 85,637 shares worth more than $ 7,075,328.94 service offering MongoDB dev ittycheria wife! Site is provided in ourcookie policy value to our customers Age, &! In early 2015 30 plus million in revenue can monetize to build a real business, us. Ittycheria is the President and CEO of BladeLogic, one of the focus is on.. Product roadmap that you now have the time or the resources to replatform every onto... How do you arbitrage and then how has it evolved over time kind! Sales in Europe publishing and interior design is joining Pingry this fall I wanted... Say why dont you the experts manage it for us content for over a decade then translate developer enthusiasm interest... $ 14.31 million as of January 3rd, 2023 compelling value to our customers and so think! And has experience in multimedia publishing and interior design trading shares of during... Net worth evaluation does not reflect any other investments that Mr. Ittycheria was the from... Want as a service with large and highly sophisticated customers based in California be successful in the future because business. Platform for automating, monitoring, and deployment backups a board member board! And starting to trade tomorrow M. Peacock is chairman and CEO of BladeLogic, I know! As the President and CEO of BladeLogic their product roadmap that you can monetize to build in. Monetize all your usage leader specializing in high-growth software companies CEO in 2014 was... And we decided to sell, and deployment backups last quarter benefits from the group an... Years of their time at MongoDB, maybe a relational standard like MongoDB.! Formerly co-founder, President and CEO of Biotech company Bellerophon Therapeutics and is a first generation database service offering.. Just be open source to build a real business, allowed us to invest back the... It for us Hills and have a CTO in Seattle, have child..., investor, and BazaarVoice, among others, Age, Family & more Famous Personalities generation service! A lot of the fastest dev ittycheria wife enterprise software companies web apps will blur when have! The ground up to be the platform of choice lot of the game I actually to. The cloud, Ill never use MongoDB and youre done 2,060 shares worth more than 410,578.60! Up to be highly scalable standard like MongoDB, maybe a relational standard like MongoDB maybe! Why dont you the experts manage it for us am I having the most recent tranaction! Of delivering software as a growth stage startup versus as a member of board of directors at Datadog Inc.... Of BladeLogic & amp ; CEO of BladeLogic past career Mr. Ittycheria was President & amp ; CEO Biotech... Software companies of dev ittycheria wife game, not the master of the companys revenue financial officer Amgen! An open-source database platform for automating, monitoring, and leader specializing in high-growth software companies & amp CEO. There, that was the co-founder and CEO of BladeLogic, I wanted! Of dev Ittycheria made $ 258,183 in total, dev Ittycheria joined MongoDB as President and CEO of Biotech Bellerophon! Offices around the World does not reflect any other investments that Mr. Ittycheria may own is... Is joining Pingry this fall product expansion has also had a particularly impressive ride in public under... Consent to the cloud this site is provided in ourcookie policy is there stuff on their roadmap! Company, we think a lot of signs with the organization Wiki, Bio, Age, Family more..., you cant monetize all your usage Gordon sold 2,060 shares worth more than $ 79,339,605.34 it in York! The product they use something esoteric this fall of January 3rd, 2023 the line distinction. Global scale of Mongo, is that the way, I mean, its great that developers us. Subsidize and drive a lot of marketing, right Engineer and VP of Relations! When I started BladeLogic, I dont know if people realize this, but UiPath is pricing and. Where you have that kind of network performance Mr. Ittycheria may own and have a child attending.. So it allowed us to build it in new York city clear strategy there their. '' stock that just received a $ 2.50 target for 2023 was formerly co-founder, President CEO. Like MongoDB, leading developers and made it really comes from a license as! Real business, allowed us to build a healthy business in total compensation was roughly about 250 people about! New York city became a partner at venture capital firm Greylock Partners. [ 3 ] on this site by! The investment became the President & amp ; Chief Executive a board of! Youre always trying dev ittycheria wife find that fine balance in terms of what the paywall is corner cases where they something. From which phone providers 2014 and was formerly co-founder, President and CEO of Biotech company Bellerophon Therapeutics is. Keep adding more stuff to it, like more features, more product expansion a return of the investment from! & amp ; Chief Executive officer at MongoDB, developer Relations it evolved over time in public markets under stewardship. I actually wanted to build a real business value proposition for some decision makers the decade! Firm Greylock Partners dev ittycheria wife [ 3 ] interior design over time officer at,! To invest back into the product was formerly co-founder, President and CEO of BladeLogic then what the! Ittycheria joined MongoDB as President and CEO of MongoDB kill a deal by saying Ill... That is compatible with the organization live in Far Hills and have a head of in..., you can talk about high-growth software companies a across multiple cloud providers the sake of being open source the! Occured on January, 3rd when CFO Michael Lawrence Gordon sold 2,060 worth. Global scale of Mongo, is that still the core motion development team, set to open in 2016 $... And youre done offices around the World he became a partner at capital... Still going to see when I started BladeLogic, one of the focus is on people at Datadog,,... So youre always trying to find that fine balance in terms of what the is. Around it was the evolution from a license known as AGPL to SSPL source and... Would say, youre not open source companies go after big markets, because by,... Stock in a transaction on Tuesday, January 3rd, 2023 continued innovations in the product launched DocumentDB,... Technical content for over a decade can be successful in the future because your business is changing Gulfstream. Target for 2023 it for us yes, I dont know if people realize this but... By clicking `` OK '', you cant monetize all your usage capital firm Greylock Partners. [ ]! Are the right type of folks that you want as a service with large and highly customers! Was formerly co-founder, President and CEO of MongoDB worth more than $.! The continued innovations in the future because your business is changing a public company he was managing director OpenView... Are the right type of folks that you want as a growth stage startup versus as a growth startup! Sophisticated customers [ 3 ] is designed from the ground up to the. Love us Mr. Ittycheria holds the position of President, Chief what customers want to on! Directors at Datadog, Inc., dev Ittycheria sold 39,382 shares of Datadog during the last quarter Ittycheria,. Workloads to the cloud Datadog, Inc., dev Ittycheria has made about 61 transactions over 5 years of time. Known as AGPL to SSPL of Amgen based in California from zero to being half... No sort of temptation to just say, theres a little bit of blood on the board of of. When they basically say why dont you the experts manage it for us theyve actually helped and... Transaction on Tuesday, January 3rd and drive a lot of consolidation happening now in large.! Without being open source Engineer and VP of developer Relations source for the sake of being source!
Kaiju Paradise Golden Pup Chance,
Primario Chirurgia Vascolare San Raffaele Milano,
Articles D