Is that sort of bottoms up or is there also top down of AEs going directly to CIOs? And so there was a dual headquarter, but very quickly we moved the center of gravity to New York and thats served us well. That attitude has led to many fingers being burned, he warns: Moving to the cloud held out the promise of reduced complexity and improved productivity. president and CEO Dev Ittycheria is scheduled to be on CNBC's "Mad Money," which airs Monday at 6 p.m. EDT. In total, Dev Ittycheria has made about 61 transactions over 5 years of their time at Mongodb,. So it was a very fair trade. We partner with them on deals. 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. I have a CTO in Seattle, have a head of sales in Europe. 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. We think it would be very unfair for someone to just pick a free version, make money off it and not give anything back. 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. And I obviously have to acknowledge my team. Well, its more like an application search logic. And three, are they executing consistently quarter in, quarter out and do they have an operating rhythm? As a member of Board of Directors at Datadog, Inc., Dev Ittycheria made $258,183 in total compensation. 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. So youre always trying to find that fine balance in terms of what the paywall is. Dev Ittycheria Wiki, Bio, Age, Family & More. . Obviously, with Atlas, it has to be deployed and delivered to the cloud. 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 . And we find the relationship kind of tends to be in three stages. Mr. Ittycheria owns 190,264 shares of Datadog stock worth more than $16,880,222 as of February 16th. Dev Ittycheria's largest sale order was 225,000 units , worth over $65.19M on April 9, 2021. 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. Enter your email address to subscribe to this blog and receive notifications of new posts by email. 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). He also serves on the new stadium development team, set to open in 2016. And in our business, its a land expand. And theyve actually helped subsidize and drive a lot of marketing, right? Its all over. He has been a member of the Minnesota Vikings ownership group for a decade, and serves as the teams executive vice president strategic planning and business initiatives. The company was founded by Eliot Horowitz, Dwight A. Merriman, Kevin P. Ryan and Geir Magnusson Jr. in November 2007 and is headquartered in New York, NY. 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. 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 Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. Dont assume that just because youre successful in the past, you can be successful in the future because your business is changing. Dev C. Ittycheria, a software executive and venture capitalist, is president and CEO of database company MongoDB. But at the time it was very hard to recruit people. And Ive been to almost every major city in the world. So you can scale very, very easily using MongoDB. He currently serves as the President & CEO of MongoDB. Youre CEO of one and board member of the other. 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? 5. 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. 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. You were trying to recruit from the big banks and so forth. So that is growing at about a 66% annualized growth rate. And for additional context, thats a current controversy around Elastic and some stuff like gotten themself tripped up into this whole conversation. Ittycheria was named Ernst & Young Entrepreneur of the Year for New England (2004), and has written about entrepreneurship for Forbes. Ittycheria and his wife, Dr. Anju Thomas, have two children. Datadog can also be reached via phone at 866-329-4466 and via email at [emailprotected] Learn More on Dev Ittycheria's contact information. Following the completion of the sale, the chief executive officer now directly owns 190,264 shares of the company's stock, valued at $38,045,189.44. At the time it was a pretty high multiple, obviously seems paltry in todays revenue multiples, but it was a pretty rich multiple for that era. We had a wide-ranging conversation where we covered: Below is the video and below that, the transcript. We need to make MongoDB a standard. MongoDBs open source project has continued to explode in popularity. Like what can they do, how do you incorporate or partner with them? For access to live and exclusive vide. Awais loves the purple color; purple can be genius. Dev C Ittycheria (age 56) is listed at 4 Firethorn Ct Warren, Nj 07059 and is affiliated with the Democratic Party. Yeah, weve made three acquisitions and two of them were non-revenue acquisitions, they were more technology acquisitions. Before MongoDB, Dev was a Managing Director at OpenView Venture Partners and before that he was a Venture Partner at Greylock Partners. 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. in . 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 company's chief executive until it was bought by BMC for $900 million. 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. We think that will make MongoDB an even more compelling platform to use. So Google may have some capabilities that are better than Amazon, and Amazon has some capabilities better than Azure and vice versa. President & CEO of Mongodb Inc ( 30-Year Financial, Insider Trades) Dev Ittycheria ( insider trades) sold 35,000 shares of MDB on 07/07/2021 at an average price of $359.32 a share. Whats the strategy behind it? SAS remains strongly committed to providing the whole employee experience - meaningful work I think, as you see the success of these companies, Datadog MongoDB, potentially UiPath, and others, I think youre going to see more talent in the local area. During his tenure, MongoDB has launched innovative products like cloud database, Atlas, garnered numerous customers, outperformed comparable competitors financially, and expanded operations worldwide. MongoDB was founded by developers for developers to provide a database designed for today's modern applications. Mars Ingenuity helicopter code contributor. The. The Biggest "Missing Ingredient" in the $7 Trillion EV Market. 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. I have a GC in California and our philosophy is lets hire the best talent, no matter where they are within reason. On this Wikipedia the language links are at the top of the page across from the article title. And in a high growth business, not everyone scales at the same rate, right? And thats something that you guys created right? Under Dev's leadership, MongoDB has released innovative . And our focus is really helping developers use data to build amazing applications. It could be the line of business. And all those tenets still apply. Is there stuff on their product roadmap that you can talk about? And now we have a very distributed team. Id love to chat about product and in particular Atlas, which has been an incredible success story. They dont want to use a new database for every new use case. Pretty crazy time to start a company by the way, 2001. They say, is it free? Itd be foolish to try and optimize for profitability. And we knew that we solved a very important problem. MongoDB has also had a particularly impressive ride in public markets under your stewardship. 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. We bought that just to kind of get some mass customer momentum around atlas. I started off in a management program at AT&T, I rose pretty quickly, but quickly got frustrated with big company politics and went to some smaller telecom company and thats in the 90s when telecom was hot and VCs were investing and building out the broadband internet. So there werent as many people who had that entrepreneurial mindset. RATINGS AND. 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. Yes, I raised my first round of financing five days before 9/11. So then our revenue forecast then drives an expense forecast. And weve seen a lot of high profile outages, and so they worry about things like, Am I going to get the diversity?. Credit: Dev Ittycheria, MongoDB . If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. So 99% of our growth has been organic. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. 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. Today with our new announcement, you can run app A across multiple cloud providers. Correct. 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. 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. Were not trying to compete with Snowflake. You have a multi-cloud offering now, right? Learn More on Dev Ittycheria's trading history. But we think that thats part of open source. And actually I led the B round at Datadog. And they said, this is crazy. Learn More about insider trades at MongoDB. Even at your scale there is a finite amount of resources. And then obviously capital was super expensive. 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. Most recently, Dev Ittycheria sold 39,382 shares of the business's stock in a transaction on Tuesday, January 3rd. The firm's products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. 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. They purchased a total of 1,150,006 shares worth more than $79,339,605.34. Then a year later, we just got an offer to get bought out by BMC. We recognize the markets large enough and we feel like were well positioned. But obviously you also have to recruit outside for a certain set of skills that you may not have in the organization. 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