Biography of Dev Ittycheria. And we also think therell be a lot of free usage of MongoDB out there. So thats why weve gotten so much popularity and thats why weve taken off. And then you keep adding more stuff to it, like more features, more product expansion. Your California Privacy Rights/Privacy Policy. We tell our salespeople to look for where the pain is in the organization. So you have to then translate developer enthusiasm and interest into a real business value proposition for some decision makers. 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. The community really appreciates it as well. 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. Is that for a company of the global scale of Mongo, is that still the core motion? Mr. Ittycheria owns 190,264 shares of MongoDB stock worth more than $39,949,732 as of March 2nd. And then what are the right type of folks that you want as a growth stage startup versus as a public company? And sometimes whos moving backwards. And so, as I said, we only have 1% share and I think were doing quite well. Awais loves the purple color; purple can be genius. So its allowed us to build a real business, allowed us to invest back into the product. Theres this tension between bottoms-up and top-down. Mr. Ittycheria earned a salary of $400,000.00, stock awards of $10,135,257.00, and other compensation of $31,500.00. PDF. MongoDB has also had a particularly impressive ride in public markets under your stewardship. Can I use this free to distribute? 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? Prior to MongoDB, Ittycheria was a partner at Greylock Partners, the managing director at OpenView Venture Partners, and the co-founder and CEO of BladeLogic which was later acquired for $900 million. Correct. This was fascinating. Theyre super expensive because the relational database was designed to be a single node system. Currently, Mr. Ittycheria holds the position of President, Chief. So the cheapest paid tier is like 9 bucks a month. The Biggest "Missing Ingredient" in the $7 Trillion EV Market. Dev Ittycheria is 53, he's been the President, Chief Executive Officer e Director of MongoDB Inc since . So imagine if we had three or 5% share, wed be a very, very large company. Award-winning Open Source Engineer and VP of Developer Relations. 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 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. In the last year, insiders at the sold shares 34 times. And today were approaching 4,000 people and about $700 million in run rate. Enter your email address below to get our daily insider buying and selling report. And I obviously have to acknowledge my team. But some of it needs to go into the commercial product. So after IPO, maybe talk to teams and hiring and what do you want to do before IPO versus IPO? This net worth estimate does not reflect any other investments that Mr. Ittycheria may own. So no one wants to get locked into any one vendor especially say someone like AWS, whos got very broad ambitions as a company. ), TRANSCRIPT (edited for clarity and brevity). But ultimately we all kind of use that process to galvanize our priorities and what were trying to do. 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. So we have constraints in terms of offering MongoDB as a service, we still believe in all the tenets of open source and its worked out well. As a CEO, how do you arbitrage between the different needs? And Ive been to almost every major city in the world. I think New York is turning out to be a pretty interesting place for tech. Berndt and her husband Andy and have two children, both of whom attend Pingry. 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 was ecstatic to see MongoDB featured in this recent CRN Cloud News article. Like what can they do, how do you incorporate or partner with them? Once again, Snowflake is bringing our Data for Breakfast event to London. 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. Datadog, Inc. provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. Any advice to founders and CEOs about how they can scale themselves? So they can pick and choose which services to use from which phone providers. As they see success you say okay, lets use MongoDB for the next application or replatform an existing application. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. So we really financed the business through customers and we ended up going public in 2007. Get notified the next time Dev Ittycheria buys or sells MongoDB stock. How do you scale yourself? Dev Ittycheria Biography. 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). The company was incorporated in 2010 and is headquartered in New York, New York. China has owned the graphite market for decades. Save my name, email, and website in this browser for the next time I comment. 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. The most successful open source companies go after big markets, because by definition, you cant monetize all your usage. And so weve automated that for developers and made it really easy. 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. Join our upcoming webcast for twitter.com/i/web/status/1. In terms of development, I think you bring up a very important point. 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. And then as you know theres been a lot of friction between AWS and Elastic and other open source companies. So we think about how quickly we can grow our top line relative to our productivity and how fast we can hire. And thats a pretty difficult challenge for developers. Dev Ittycheria, by /s/ Ron A. Metzger, Attorney-in-Fact: 01/10/2022 ** Signature of Reporting Person: Date: Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. In 2012, he became a partner at venture capital firm Greylock Partners.[3]. "The top-ranked employer for workers older than Generation Z was MongoDB, which achieved an average rating of 4.89. Stephen M. Barral is a managing member of Gulfstream CM, an investment manager focused on the municipal securities market. And Elastic themselves are growing more towards the security space than application search. How do you work with cloud vendors? The estimated net worth of Dev Ittycheria is at least $39.95 million as of January 3rd, 2023. Great. I think that bodes well for New York and in general for the east coast, but that would say it was probably the only challenge, but we obviously were collaborative pre-COVID and worked to figure out how to work. They say, is it free? Are you going after Databricks? 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 . Class of 1978, in a prepared statement. Were all cheering for Mongo, and what a remarkable success story. So as data volumes grow, their architecture has limitations. Yeah. Dev founded his first technology company in 1998, and his leadership and board roles have resulted in 5 IPOs and 2 significant acquisitions. Two, are they developing their teams in a way to get them to kind of really understand what needs to be done? In fact, sometimes I joke with my Chief People Officer that Im like a glorified head of HR because 80% of the issues Im dealing with are around people. BY Dev Ittycheria. Id love to chat about product and in particular Atlas, which has been an incredible success story. And so we feel good about the opportunity in front of us. Lose a little money, make a little money. Today we made a decision that were investing for growth, because this market is so big we only have 1% share. For Search, what we found was a lot of customers were dual homing data to both MongoDB and say Elastic. You'll learn He and his wife Kathleen have one child attending Pingry. The. He also serves on the new stadium development team, set to open in 2016. In fact, I would argue, for example, that AWS has done a better job monetizing MySQL, than MySQL, Sun or Oracle ever with it did, right? 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. For example, Snowflake is not an open source company. 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. We partner with them on events. For access to live and exclusive vide. We think it would be very unfair for someone to just pick a free version, make money off it and not give anything back. Youre CEO of one and board member of the other. Is everyone in line? 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. Well, thank you, man. But obviously you also have to recruit outside for a certain set of skills that you may not have in the organization. * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). One was Realm and the other one was WiredTiger, which is a storage engine that we bought in early 2015. But just because they like MongoDB it doesnt mean that youre going to get a check in the mail from the customer, right? So we have to work with the cloud provider. Your organization is changing. So 2014 turned out to be a pretty interesting year for me. Now Amazons trying to make some extensions with Aurora to kind of make relational databases suck less, but they fundamentally have scalability problems. And so, what you as leader have to do, is this a fixable development issue? Learn More on Dev Ittycheria's trading history. So essentially almost two a year, right? Theres a lot of companies who try and do that and they struggle. Dev Ittycheria has experience as an entrepreneur, operator, and investor. So well have a 3rd big, and their valuation I think will be quite large. 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. And if you give away too much of your product, its very hard to monetize. 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. So I would say one of the challenges in New York though, and I think its changing now with the success of all these companies is hiring senior level talent. AboutPressCopyrightContact. Its only maybe a couple hours longer. You dont want to cut too many corners day one. We make some decisions about, Are we going to be profitable? Youve done some fascinating things as an entrepreneur, as a CEO, also as a VC, although more briefly if you could give us a couple of minutes on your story, thatd be awesome. So we have to make sure we drive a lot of developer enthusiasm by using MongoDB. But why dont we go directly to the CIO because everyone knows Mongo, right? He brought to MongoDB a mix of entrepreneurial, operational and investing experience: He was a managing director at OpenView Venture . MongoDB serves customers worldwide by providing an open-source database platform for automating, monitoring, and deployment backups. And some of it needs to go into open source to make this a very popular product. Notify me of follow-up comments by email. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. 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. 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). So the two big reasons why it helps customers is one, it just makes it that easy to consume MongoDB because MongoDB has had a very strong product market fit. Its not always a CIO, it could be the VP of Infrastructure. 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. Dont assume that just because youre successful in the past, you can be successful in the future because your business is changing. Obviously, with Atlas, it has to be deployed and delivered to the cloud. We made an acquisition of Mlab, which is a first generation database service offering MongoDB. And they said, we really want to embed all our OTP functionality along with application search in one platform, its much easier to maintain. He holds a B.S. Information on this page was last updated on 2/13/2023. We have replication sharding built into our architecture. Weve now embedded that it just makes life so much easier for customers. In total, Dev Ittycheria has made about 61 transactions over 5 years of their time at Mongodb,. Previously, Dev was Managing Director at OpenView Venture Partners, Venture Partner at Greylock Partners, and CEO/Co-founder of BladeLogic, which was acquired by BMC for $900 million. So its gone from zero to being almost half of the companys revenue. 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. I will start by reviewing our first-quarter results before giving you a. MongoDB was founded by developers for developers to provide a database designed for today's modern applications. Youre running a tech company with offices around the world. And thats when you see the relationship with the customer grow fast. Leading database company MongoDB has appointed IT veteran Dev Ittycheria as President and CEO. Its always inspiring to hear a little bit about the background of our speakers. Ittycheria was the co-founder and CEO of BladeLogic, one of the fastest growing enterprise software companies of the last decade. Right? Whos moving sideways? 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 if you just keep trying to run the same playbook, youre going to hit a wall. And typically we see a lot of consolidation happening now in large companies. But at the time it was very hard to recruit people. Were enabling people to use the power of our query language to create data not just from MongoDB, but from other sources. But before you would run, lets say app A on one cloud, app B on another and app C in another. So youre still going to see a lot of Oracle out there. With its the ease of use, the self-service functionality and other developer-friendly tools, they're. So our business starts and stops with developers. It was this whole complexity of open source in cloud vendors and for anyone thats listening to this, for whom this discussion is not completely clear, the concern all along has been that cloud vendors can just take the open source code and run a competitive version of the product without cooperation from the original vendor. I need to make sure I have the right people in the organization, especially at the executive team to go execute on that strategy. No ones going to use your product. 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. Dev also serves on the board of directors of DataRobot, a private software company. So we have never been more popular than we are today. (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? 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. As a member of Board of Directors at Datadog, Inc., Dev Ittycheria made $258,183 in total compensation. At the time representing by definition 0% of revenue, and then it progressed to presenting 23% of revenues in fiscal year 2019, 39% in 2020, and now 46% in 2021. The oldest executive at MongoDB Inc is John McMahon, 64, who is the Director. Tech. We didnt want to go down that path. He currently serves as the President & CEO of MongoDB. So youre always trying to find that fine balance in terms of what the paywall is. We wanted to leverage the virality of open source to get broad adoption. Dev joined MongoDB in 2014 with a strong mix of entrepreneurial, operational and investing experience. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. 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. Sure. Were fortunate, the business then was roughly about 250 people trailing about $30 plus million in revenue. So every app has some search functionality, so embedding that more tightly into the app is helpful for the application developers, less systems to maintain. 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. Dev C Ittycheria (age 56) is listed at 4 Firethorn Ct Warren, Nj 07059 and is affiliated with the Democratic Party. How do they kind of measure the success of the business? Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. I mean, Oracle was founded in 1977. Then you find adjacencies to expand into. He currently serves as the President & CEO of MongoDB. The company also renders enterprise software integration, platform certification, and commercial licensing services. Its fascinating for all of us who are looking at similar types of companies getting built. Well, I think happiness for a CEO is a great relationship with your board and having a high functioning, cohesive team under you, right? One is a current Pingry student, and the other is joining Pingry this fall. Balanced lives continue to make great business sense. I felt like Id be like a caged tiger. Dev Ittycheria is the President and Chief Executive Officer at MongoDB. And then one last question from Julia, how does MongoDB manage to not compete with their open source community? Have some success, build a relationship, get some confidence built around MongoDB, and then go after a new business. Learn More on Datadog's active insiders. 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 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. Perfect timing for a "made in America" graphite company looking to mine, manufacture, and recycle graphite for the booming electric car market. 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. So your impact on the NYC tech ecosystem has just been insane. Think about it like a leaderboard for a gaming application. Obviously its been a pleasure to work with Oli and the team there. We came up with SSPL, it was fairly controversial. 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. As the CEO of MongoDB, Inc., Mr. Ittycheria earned a total compensation package of $10,566,757.00 in 2022. Barral and his wife Angela are the parents of a Pingry alumnus and two current Pingry students. This chart shows Dev Ittycheria's buying and selling at Datadog by year and by quarter. Even at your scale there is a finite amount of resources. Tue, Jun 15 2021 5:33 PM EDT. I have a CTO in Seattle, have a head of sales in Europe. You were trying to recruit from the big banks and so forth. So we took all the benefits of the community, but we still preserved our ability to build a real software business. We encourage our salespeople to go slow to go fast. 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. And then maybe theres some corner cases where they use something esoteric. 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. Balanced lives continue to make great business sense. So if you constrain the paywall too much, then you have very little adoption. What I mean by that is you constantly have to work at your trade craft. Whats the strategy behind it? So you have to think through your licensing around how you plan to license your product and make it simple for customers so that its not confusing to them or to the market about what your intentions are. Dev Ittycheria is the Director of Datadog Inc and owns about 441,347 shares of Datadog Inc (DDOG) stock worth over $38 Million . Thank you, Matt. We bought that just to kind of get some mass customer momentum around atlas. We coexist with Oracle, we coexist with Microsoft, we coexist with other players, right? 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. Credit: Dev Ittycheria, MongoDB . 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. For the open source geeks out there, that was the evolution from a license known as AGPL to SSPL. Wilf and his wife Rachel have one child. I started my career in some big companies. But the U.S. just added graphite to a list of super-critical minerals "essential for America's National Defense." MongoDBs path from unlikely NYC enterprise tech startup to global category leader has been amazing to watch. So, global domination. 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. Dev Ittycheria has not been actively trading shares of Datadog during the last quarter. Get notified the next time Dev Ittycheria buys or sells Datadog stock. A tech CEO spent almost $600,000 on a Super Bowl ad to warn America about Tesla's self-driving technology. Why do you think its continued to be so incredibly popular and in fact accelerating? 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. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack. Author of various open-source dev-tools and software libraries used by millions of developers worldwide. On this Wikipedia the language links are at the top of the page across from the article title. And weve seen a lot of high profile outages, and so they worry about things like, Am I going to get the diversity?. I personally love New York city, its my favorite city in the world. 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. And were not trying to be a data warehouse. They live in Far Hills and have a child attending Pingry. 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. Think about supply chain apps where you have to have real-time information. CNBC Councils. Elliot S. Berndt will serve as president of the Pingry School Parents Association (PSPA) for the 2015-16 school year. So it just makes it so much easier to use MongoDB, to build applications, to do it quickly and to do it more powerfully. He is currently the CEO of MongoDB and a member of the board of directors at DataDog. The corporate mailing address for Mr. Ittycheria and other Datadog executives is 620 EIGHTH AVENUE 45TH FLOOR, NEW YORK NY, 10018. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. One, the relational database, where youre trying to basically disaggregate data into rows and columns is a very counterintuitive way to model data. 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. 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. 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. Following this acquisition, Dev served as President of BMC, overseeing a business with $1.4 billion in annual revenue. Learn More on Dev Ittycheria's contact information. 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