Don't let a crisis go to waste. Why do you think its continued to be so incredibly popular and in fact accelerating? Don't miss the $.13 cent "Next-Gen" stock that just received a $2.50 target for 2023. Your competition is changing. 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. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. 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. Datadog can also be reached via phone at 866-329-4466 and via email at [emailprotected] Learn More on Dev Ittycheria's contact information. He holds a B.S. 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. MongoDB is designed from the ground up to be highly scalable. 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? Learn More about insider trades at Datadog. He currently serves as the President & CEO of MongoDB. Then you find adjacencies to expand into. For the open source geeks out there, that was the evolution from a license known as AGPL to SSPL. 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. 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. My academic training is as an engineer, what I realized about myself was that I really wanted to be at the intersection of business and technology. Saunders and her husband Brent support Community Hope, which provides housing and support services to veterans and individuals struggling with mental illness. 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 then we use that as a wedge to get in the door and then use that as a way to So once we get in the door, our net expansion rates are very high because obviously we can then start winning more and more workloads. And then as you know theres been a lot of friction between AWS and Elastic and other open source companies. Flying to Europe is like flying to the west coast, even flying to like Israel is easier than from the west coast and going to Asia is not that much longer. Thats the heart of the whole discussion. Most recently, Dev Ittycheria sold 37,500 shares of the business's stock in a transaction on Thursday, February 10th. Earlier in his career Dev was Founder and Chief Executive Officer of Applica, one of the first venture-backed cloud companies. I think whats changed is the access to capital obviously, firms like FirstMark and others have done a lot of investing in New York. So we had a lot of customers who obviously are building mobile. Those who understand that ruthlessly prioritizing, making hard choices & learning to do more with less are essential leadership skills that will last a lifetime. I have a CTO in Seattle, have a head of sales in Europe. MongoDB serves customers worldwide by providing an open-source database platform for automating, monitoring, and deployment backups. MongoDB priced its IPO at $24 a share. 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. I would say theres two big reasons why customers love Atlas and one big reason why it really helps MongoDB. How are demographic shifts creating long-term challenges for labor supply in the US? 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). Dev graduated from Rutgers University with a B.S. 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. Whos moving up? Stephen M. Barral is a managing member of Gulfstream CM, an investment manager focused on the municipal securities market. Any advice to founders and CEOs about how they can scale themselves? Information on this page was last updated on 1/3/2023. Before MongoDB, Dev was a Managing Director at OpenView Venture Partners and before that he was a Venture Partner at Greylock Partners. Learn More about insider trades at MongoDB. Under Dev's leadership, MongoDB has released innovative . The shares were sold at an average price of $199.96, for a transaction totalling $7,874,824.72. Youre CEO of one and board member of the other. 5. The estimated net worth of Dev Ittycheria is at least $16.88 million as of January 3rd, 2023. So Realm had gotten a lot of traction, but they also needed to synchronize data from the edge to the core. . In his past career Mr. Ittycheria was President & Chief Executive . Learn More about Dev Ittycheria's net worth. And thats a pretty difficult challenge for developers. 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. A leader has to essentially recruit well. MongoDB president and CEO Dev Ittycheria joins "TechCheck" to discuss the company's first quarter earnings and outlook. Dev C. Ittycheria, a software executive and venture capitalist, is president and CEO of database company MongoDB. The. One is a current Pingry student, and the other is joining Pingry this fall. Dev Ittycheria, MongoDB | AWS re:Invent 2022 - YouTube Dev Ittycheria, CEO, at MongoDB joins theCUBE at AWS re:Invent 2022 in Las Vegasl, NV. Today with our new announcement, you can run app A across multiple cloud providers. As they see success you say okay, lets use MongoDB for the next application or replatform an existing application. But obviously with COVID weve learned to collaborate. 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. It doesnt make a lot of sense when I look at it from a strategic point of view. He previously served on the boards of AppDynamics, athenahealth, and BazaarVoice, among others. RATINGS AND. Learn More on MongoDB's active insiders. My job is that I need to do three things well. Dev C Ittycheria (age 56) is listed at 4 Firethorn Ct Warren, Nj 07059 and is affiliated with the Democratic Party. 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. We wanted to leverage the virality of open source to get broad adoption. And then we triage which ones do we want to invest in new, which product is going well, which products were to shut down? And then you keep adding more stuff to it, like more features, more product expansion. And obviously our investors also see a return of the investment. In the last year, insiders at the sold shares 60 times. Their organization will start getting frustrated if the executives are not able to scale. Yeah, its a good question. Pretty crazy time to start a company by the way, 2001. @CEDUpdate 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. Were enabling people to use the power of our query language to create data not just from MongoDB, but from other sources. Most ppl <35 have never led teams during a difficult economic environment. She has served on the PSPAs Advisory Board and most recently was first vice president of the Executive Board. 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. The community really appreciates it as well. So it allowed us to really capture value, but still also give compelling value to our customers. Introducing the *Emerging* MAD (Machine Learning, AI, Data) Index, In Conversation with Victor Riparbelli (CEO) and Matthias Niessner (Co-Founder), Synthesia, Red Hot: The 2021 Machine Learning, AI and Data (MAD) Landscape, Is Big Data Still a Thing? Jonathan M. Peacock is chairman and CEO of Biotech. Enter your email address below to get our daily insider buying and selling report. 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? Well, that feels like a great place to end. How do you think about this? Dev currently serves as lead independent director of the board of directors of Datadog, Inc., a public software company. 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. And so I said, why dont I do that? Most recently, Dev Ittycheria sold 39,382 shares of the business's stock in a transaction on Tuesday, January 3rd. So we have to make sure we drive a lot of developer enthusiasm by using MongoDB. And in a high growth business, not everyone scales at the same rate, right? He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. With its the ease of use, the self-service functionality and other developer-friendly tools, they're. Your California Privacy Rights/Privacy Policy. 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