Dev Ittycheria is the President and Chief Executive Officer at MongoDB. Itd be foolish to try and optimize for profitability. So we have to make sure we drive a lot of developer enthusiasm by using MongoDB. And Ive been to almost every major city in the world. Think about supply chain apps where you have to have real-time information. And too many times people wait too long to make changes. Yeah. Most recently, Dev Ittycheria sold 39,382 shares of the business's stock in a transaction on Tuesday, January 3rd. So theres a lot of healthy partnership there. We dont want to do that. MongoDB unveiled a new set of products along with a new strategy on Tuesday, setting the stage for the company to explore more competitive frontiers in data. He also serves on the new stadium development team, set to open in 2016. So after IPO, maybe talk to teams and hiring and what do you want to do before IPO versus IPO? 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. Join us for a morning of insights, inspiration, valueand breakfast. 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. Information on this page was last updated on 2/13/2023. Ittycheria was the co-founder and CEO of BladeLogic, one of the fastest growing enterprise software companies of the last decade. This article about a United States businessperson is a stub. 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 I think the line or distinction between mobile and web apps will blur when you have that kind of network performance. You have a multi-cloud offering now, right? Most ppl <35 have never led teams during a difficult economic environment. Learn More about Dev Ittycheria's net worth. She has served on the PSPAs Advisory Board and most recently was first vice president of the Executive Board. Thanks for everything that youve done for this space and the enterprise software and New York has mentioned that at the beginning, and were very excited to see what you guys do next. And now we have a very distributed team. 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. So theyre motivated to drive those workloads to the cloud. They align the sales compensation to incentivize working that have their sales people work with us. Literally there is not one country, once city in the world, I dont think someones not using MongoDB. Then a year later, we just got an offer to get bought out by BMC. Well, I think you first have to ask yourself, why are you trying to be an open source? How do they kind of measure the success of the business? So we have never been more popular than we are today. Before MongoDB, Dev was a Managing Director at OpenView Venture Partners and before that he was a Venture Partner at Greylock Partners. They dont want to use a new database for every new use case. Datadog is not an open source company, right? I really appreciate it. Thank you for having me. Its only maybe a couple hours longer. 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. And our goal is to be the standard where we can go after 80% of the use cases. Theres a lot of fierce battles about what to do and what not to do. You know, theyve had Oracle RAC, sidecar and other ways to try and replicate. You shouldnt just be open source for the sake of being open source. Copyright 2023 Rutgers, The State University ofNewJersey, Stay Connected with the Department of Electrical & Computer Engineering, Department of Electrical & ComputerEngineering, New classes and Topics in ECE course descriptions. So obviously with our strategy, were not changing that every day. He currently serves as the President & CEO of MongoDB. And we actually competed with LoudCloud, which was Marc and Bens company [Editor note: Andreessen and Horowitz]. (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? So well have a 3rd big, and their valuation I think will be quite large. One, the relational database, where youre trying to basically disaggregate data into rows and columns is a very counterintuitive way to model data. And all of a sudden I saw these companies get funded. And so we feel good about the opportunity in front of us. So when they basically say why dont you the experts manage it for us? 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. And sometimes whos moving backwards. We need to make MongoDB a standard. We recognize the markets large enough and we feel like were well positioned. Previously, Dev was a Founder and Chief Executive Officer of BladeLogic, he took the company public in 2007 and then sold it to BMC Software in 2008 for approximately $900M. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. 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 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. 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. Learn More about Dev Ittycheria's net worth. 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. 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 then obviously capital was super expensive. 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. The firm's products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. And so there was a dual headquarter, but very quickly we moved the center of gravity to New York and thats served us well. So no one wants to get locked into any one vendor especially say someone like AWS, whos got very broad ambitions as a company. All right. 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. Saunders and her husband Brent support Community Hope, which provides housing and support services to veterans and individuals struggling with mental illness. I need to make sure I have the right people in the organization, especially at the executive team to go execute on that strategy. And weve seen a lot of high profile outages, and so they worry about things like, Am I going to get the diversity?. Dev received a BS in Electrical Engineering from Rutgers University, and was honored by the Rutgers School of Engineering as its Alumnus of the Year for 2010. Learn More on Dev Ittycheria's trading history. Insiders at Datadog own 15.8% of the company. After co-founding the business in 2001, he went on to take the company public in 2007, and then sold it to BMC Software in 2008 for approximately $ 900 million. Jonathan M. Peacock is chairman and CEO of Biotech company Bellerophon Therapeutics and is a board member of Kite Pharma. 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. How do you work with cloud vendors? 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. And so you really build a lot of muscles in terms of using the best, the cheapest form of financing is revenue, right? He previously served on the boards of AppDynamics, athenahealth, and BazaarVoice, among others. He and his wife Kathleen have one child attending Pingry. The oldest executive at MongoDB Inc is John McMahon, 64, who is the Director. The company describes DocumentDB as a "fast, scalable, and highly available document database that . Well, that feels like a great place to end. So we think about how quickly we can grow our top line relative to our productivity and how fast we can hire. 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. Award-winning Open Source Engineer and VP of Developer Relations. BY Dev Ittycheria. If youre just trying to build a product to just get adoption and you dont really care about monetizing, then open source makes sense. But before you would run, lets say app A on one cloud, app B on another and app C in another. Monetization is not the only one. So you can scale very, very easily using MongoDB. And be very, very clear on that. They say, is it free? Dev is registered to vote in Somerset County, New Jersey. And they said, this is crazy. My philosophy in life has always been, always be the student of the game, not the master of the game. Previously, Barral was managing director at Barclays Capital and JP Morgan in convertible sales and trading. In terms of development, I think you bring up a very important point. Well, if youre a customer in Australia or youre a customer in Canada, Amazon, or say Azure may only have one region. 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. Talk to anyone who wants to do a schema change and theyll roll their eyes because they know how painful that is. The estimated net worth of Dev Ittycheria is at least $16.88 million as of January 3rd, 2023. Licensing & Reprints. 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. And obviously our investors also see a return of the investment. The most recent insider tranaction occured on January, 3rd when CFO Michael Lawrence Gordon sold 2,060 shares worth more than $410,578.60. 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. 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. MongoDB, Inc. engages in the development and provision of a general-purpose database platform. Pretty crazy time to start a company by the way, 2001. And thats a pretty difficult challenge for developers. 00:33. I felt like Id be like a caged tiger. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. So once youre clear on the strategy, then a lot of the focus is on people. And three, are they executing consistently quarter in, quarter out and do they have an operating rhythm? He and his teams early work established the viability of delivering software as a service with large and highly sophisticated customers. Subscribe to CNBC PRO. Its not always a CIO, it could be the VP of Infrastructure. And so its not a secret, but since weve gone public three and a half years ago, weve had six C level changes, right? And which is why it grew so quickly. Dev Ittycheria is president and CEO of MongoDB. Nov 3. Yeah, weve made three acquisitions and two of them were non-revenue acquisitions, they were more technology acquisitions. Dev Ittycheria Mixed fortunes for MongoDB which saw Q2 revenues rise 53% year-on-year this week, but Wall Street was jittery about a cautious forecast for the coming quarter and gave the stock price a pummelling. He is currently the CEO of MongoDB and a member of the board of directors at DataDog. 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