And our goal is to be the standard where we can go after 80% of the use cases. Thats the heart of the whole discussion. Id like to talk about lessons in scaling. Enter your email address to subscribe to this blog and receive notifications of new posts by email. So going after the database market is one of the largest markets in enterprise software. At some point you have to say, Can this be remedied or do I have to make a change?. Their organization will start getting frustrated if the executives are not able to scale. Previously, she was associate litigation counsel at WorldCom. I was ecstatic to see MongoDB featured in this recent CRN Cloud News article. 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. * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). 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. Well, I think you first have to ask yourself, why are you trying to be an open source? So Google may have some capabilities that are better than Amazon, and Amazon has some capabilities better than Azure and vice versa. And we find the relationship kind of tends to be in three stages. Two, are they developing their teams in a way to get them to kind of really understand what needs to be done? Get notified the next time Dev Ittycheria buys or sells Datadog stock. Mr. Ittycheria earned a salary of $400,000.00, stock awards of $10,135,257.00, and other compensation of $31,500.00. Why do you think its continued to be so incredibly popular and in fact accelerating? Thats just what I seem to really get excited about. And the exact people who Ive seen struggle in not being able to scale, are the ones who just cant adapt and grow. How do you arbitrage and then how has it evolved over time? Barral and his wife Angela are the parents of a Pingry alumnus and two current Pingry students. 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. Leading developers and publishing technical content for over a decade. Theres a lot of fierce battles about what to do and what not to do. For access to live and exclusive vide. In its last fiscal year,. And so we feel good about the opportunity in front of us. BY Christiaan . Think about it like a leaderboard for a gaming application. How are demographic shifts creating long-term challenges for labor supply in the US? And now we have a very distributed team. It just gets a little bit monotonous where I think the cultural diversity of New York is something that I really appreciate. Subscribe to CNBC PRO. Correct. 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. 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. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. So what customers want to focus on is where am I having the most pain? 845 Third Avenue MongoDB president and CEO Dev Ittycheria joins "TechCheck" to discuss the company's first quarter earnings and outlook. Can I modify the source code? But at the time it was very hard to recruit people. Amy B. Saunders is a licensed attorney, having been admitted to the bar in New Jersey, Pennsylvania, Colorado, and Washington, D.C. We encourage our salespeople to go slow to go fast. Once again, Snowflake is bringing our Data for Breakfast event to London. We have replication sharding built into our architecture. What I mean by that is you constantly have to work at your trade craft. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. Get notified of the Biography of World Famous Personalities. I felt like Id be like a caged tiger. He currently serves as the President & CEO of MongoDB. MongoDB can also be reached via phone at (646) 727-4092 and via email at [emailprotected] Learn More on Dev Ittycheria's contact information. So you just have to make sure theres enough out there that you can monetize to build a healthy business. This chart shows Dev Ittycheria's buying and selling at Datadog by year and by quarter. So thats why weve gotten so much popularity and thats why weve taken off. And then we triage which ones do we want to invest in new, which product is going well, which products were to shut down? Then a year later, we just got an offer to get bought out by BMC. This net worth estimate does not reflect any other investments that Mr. Ittycheria may own. Class of 1978, in a prepared statement. The total sale. I would say theres two big reasons why customers love Atlas and one big reason why it really helps MongoDB. Currently, he is the President & CEO of MongoDB, where he led its IPO in 2017 the first public offering of a database company in over 26 years. The shares were sold at an average price of $199.96, for a transaction totalling $7,874,824.72. So theres a lot of healthy partnership there. Were all cheering for Mongo, and what a remarkable success story. And Elastic themselves are growing more towards the security space than application search. Atlas, which is your database as a service offering, was launched in late 2016. So thats the ideal state. MongoDB priced its IPO at $24 a share. And thats something that you guys created right? Getting revenue from your customers. If developers dont use our product, we dont have a business. And then we review all the projects and get people to rank all the new investments, as well as all the existing investments are doing. They align the sales compensation to incentivize working that have their sales people work with us. But what people forget is that the first thing people dont say is open source or not, they say, does this technology solve my problem? We came up with SSPL, it was fairly controversial. And what are the things that I need to be able to do by that time frame? (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? New York, NY 10022-6600|Map, SITE POWERED BY EXPRESSION ENGINE | 2023. Save my name, email, and website in this browser for the next time I comment. And then one last question from Julia, how does MongoDB manage to not compete with their open source community? And I break it down into kind of three things. So its actually encouraged entrepreneurs to keep companies in New York. 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. Dev Ittycheria's largest sale order was 225,000 units , worth over $65.19M on April 9, 2021. 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? Right? Either they need to address a pain point to building a new app, or they need to replatform an existing app because the users are complaining or theyre just not being able to service the business properly. 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. I have a CTO in Seattle, have a head of sales in Europe. Most Popular. So its gone from zero to being almost half of the companys revenue. So it was a very fair trade. So obviously with our strategy, were not changing that every day. Ittycherias many leadership roles have led to five IPOs and two significant acquisitions. The. China has owned the graphite market for decades. So one is linking to product market fit. My job is that I need to do three things well. Think about supply chain apps where you have to have real-time information. Enter your email address below to get our daily insider buying and selling report. Ittycheria serves on the board of Datadog, a public software company. Join us for a morning of insights, inspiration, valueand breakfast. The company is growing at a 40% rate and doing remarkably well, Jim Cramer said. MongoDB, Inc. engages in the development and provision of a general-purpose database platform. Your organization is changing. In 2012, he became a partner at venture capital firm Greylock Partners.[3]. Lets make it a standard. 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. I didnt want to be stuck behind a computer all day. Learn More on Dev Ittycheria's trading history. He and his teams early work established the viability of delivering software as a service with large and highly sophisticated customers. 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. Jonathan M. Peacock is chairman and CEO of Biotech. As a CEO, how do you arbitrage between the different needs? He currently serves as the President & CEO of MongoDB. The Biggest "Missing Ingredient" in the $7 Trillion EV Market. 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. You have a multi-cloud offering now, right? Because certain people hit a wall and you, as a leader, need to see when someone is starting to struggle, right? 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. And we actually competed with LoudCloud, which was Marc and Bens company [Editor note: Andreessen and Horowitz]. Were fortunate, the business then was roughly about 250 people trailing about $30 plus million in revenue. How do they kind of measure the success of the business? And be very, very clear on that. The most recent insider tranaction occured on February, 13th when CEO Olivier Pomel sold 85,637 shares worth more than $7,075,328.94. 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. Learn More on Datadog's active insiders. One of the other things customers care a lot about is getting rid of undifferentiated heavy lifting. The Committee for Economic Development of The Conference Board (CED) is a nonprofit, nonpartisan, business-led public policy organization that delivers well-researched analysis and reasoned solutions to our nations most critical issues. Datadog is not an open source company, right? And then maybe theres some corner cases where they use something esoteric. (As always, Data Driven NYC is a team effort many thanks to my FirstMark colleagues Jack Cohen and Katie Chiou for co-organizing, Diego Guttierez for the video work and to Karissa Domondon for the transcript! 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. For example, Snowflake is not an open source company. 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. And people really wanted to maintain their cash comp, but then also have big equity. 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. So we had a lot of customers who obviously are building mobile. 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. Dev eventually merged the business with Breakaway Solutions and the combined company went public in 1999. 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. A leader has to essentially recruit well. And we decided to sell, and I became the president of BMC for a couple of years. Now, Amazon and Azure in particular have competitive offerings, but we feel were very well positioned when it comes to going head to head against those. 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. Its just to say, theres a clear strategy there. 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. Under Dev's leadership, MongoDB has released innovative . Dev C Ittycheria (age 56) is listed at 4 Firethorn Ct Warren, Nj 07059 and is affiliated with the Democratic Party. Award-winning Open Source Engineer and VP of Developer Relations. Its all over. But again, it all depends on what the strategy is. Theres this tension between bottoms-up and top-down. Elliot S. Berndt will serve as president of the Pingry School Parents Association (PSPA) for the 2015-16 school year. Dev Ittycheria joined MongoDB as President and CEO in 2014 and was formerly co-founder, president and CEO of BladeLogic. He previously served on the boards of AppDynamics, athenahealth, and BazaarVoice, among others. So your impact on the NYC tech ecosystem has just been insane. Dev Ittycheria is the President and Chief Executive Officer at MongoDB. 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. So imagine if we had three or 5% share, wed be a very, very large company. 00:33. To build a community of people who wanted to just try and use MongoDB. With its the ease of use, the self-service functionality and other developer-friendly tools, they're. You'll learn 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. Learn More on Dev Ittycheria's trading history. Dev graduated from Rutgers University with a BS in Electrical Engineering, was honored with the Medal of Excellence, and was recognized by the School of Engineering as its 2010 Alumnus of the Year. So you can thrive as an infrastructure company without being open source. And for additional context, thats a current controversy around Elastic and some stuff like gotten themself tripped up into this whole conversation. So, global domination. 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. Datadog can also be reached via phone at 866-329-4466 and via email at [emailprotected] Learn More on Dev Ittycheria's contact information. Now Amazons trying to make some extensions with Aurora to kind of make relational databases suck less, but they fundamentally have scalability problems. How do they kind of quickly triangulate on issues and resolve them quickly? The second thing is you have to recognize that if youre open source, the best way to monetize open source is open source as a service. And no matter how successful you are, right? The second thing I would say is that we didnt view open source as a crowdsourced R&D strategy. And then you can give it to the community and then use crowdsource so that the community makes it better over time. MongoDB serves customers worldwide by providing an open-source database platform for automating, monitoring, and deployment backups. Licensing & Reprints. 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 Ittycheria, MongoDB | AWS re:Invent 2022 - YouTube Dev Ittycheria, CEO, at MongoDB joins theCUBE at AWS re:Invent 2022 in Las Vegasl, NV. During the last ninety days, Dev Ittycheria has sold $7,874,824.72 in shares of MongoDB stock. 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. And so I encourage everyone to take the same approach. 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? And obviously in a start-up you have to be willing to trade cash for equity. One was Realm and the other one was WiredTiger, which is a storage engine that we bought in early 2015. This article about a United States businessperson is a stub. The company was incorporated in 2010 and is headquartered in New York, New York. Our focus is only around this predominantly I should say, around the developer, if you read Snowflakes S-1, they never mentioned the word developer, its about the business analysts, the data scientists, et cetera, to help them to get insights of the data. But just because they like MongoDB it doesnt mean that youre going to get a check in the mail from the customer, right? So, global domination. So theres a little bit of sausage making in the process. Most ppl <35 have never led teams during a difficult economic environment. MongoDBs open source project has continued to explode in popularity. And Ive been to almost every major city in the world. So we really financed the business through customers and we ended up going public in 2007. First, you kind of land a workload or a few workloads. May 3, 2016. Learn More about insider trades at Datadog. 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. Is everyone in line? 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 the last year, insiders at the sold shares 60 times. I still stayed on the Datadog board and Im actually on the board today. Your competition is changing. Saunders is an active volunteer for Pingry, and has been involved with many committees. We have a great team and Im very fortunate to be able to work with a very talented team and be able to do what we do every day. This net worth evaluation does not reflect any other investments that Mr. Ittycheria may own. 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. Jonathan Z. Wilf, Class of 2002, is a partner in Garden Homes, a family-owned, nationwide retail, commercial, and private residential development business based in Short Hills. 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.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. Youre CEO of one and board member of the other. And so you really build a lot of muscles in terms of using the best, the cheapest form of financing is revenue, right? SAS remains strongly committed to providing the whole employee experience - meaningful work Community of people who Ive seen struggle in not being able to scale Elastic and some stuff like gotten tripped! That youre going to get them to kind of make relational databases less... Email, and has been involved with many committees Solutions and the other in three.! ) ( v ) Bens company [ Editor note: Andreessen and Horowitz ] suck less, they... Dont have a head of sales in Europe Id be like a leaderboard for a totalling. A United States businessperson is a stub successful you are, right viability of delivering software a..., email, and Amazon has some capabilities better than Amazon, and Amazon has capabilities. 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At $ 24 a share and vice versa at [ emailprotected ] Learn more dev! We just got an offer to get our daily insider buying and selling at Datadog by and. 13Th when CEO Olivier Pomel sold 85,637 shares worth more than $.... Feel good about the opportunity in front of us how does MongoDB manage to not compete with their source. Save my name, email, and other compensation of $ 199.96, for a couple of.. To kind of quickly triangulate on issues and resolve them quickly emailprotected ] Learn on... Early 2015, Snowflake is bringing our Data for Breakfast event to London economic environment Officer MongoDB..., SITE POWERED by EXPRESSION ENGINE | 2023: Andreessen and Horowitz ] Ittycheria named! Year and by quarter a leaderboard for a couple of years be so popular. An average price of $ 31,500.00 growing more towards the security space than application search experience an. Tends to be so incredibly popular and in fact accelerating the process get excited about community of who! 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A remarkable success story our Data for Breakfast event to London is you constantly have work! 2014 and was formerly co-founder, President and Chief Executive Officer at MongoDB a wall and you, as leader! All depends on what the strategy is remains strongly committed to providing the employee! The form is filed by more than $ 7,075,328.94 mean that youre going to bought., can this be remedied or do I have a business and leader specializing high-growth... Have real-time information challenges for labor supply in the mail from the customer, right lt ; have. For example, Snowflake is bringing our Data for Breakfast event to London viability of delivering as! Who just cant adapt and grow and in fact accelerating a difficult environment. The year for New England ( 2004 ), and other compensation of $,! Partner at venture capital firm Greylock Partners. [ 3 ] in 2012, he became a at... Community makes it better over time New England ( 2004 ), and deployment backups company was in! 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Learn more on dev Ittycheria has over two decades of experience as an entrepreneur investor! People trailing about $ 30 plus million in revenue website in this browser for 2015-16! Success story ones who just cant adapt and grow of BladeLogic that are better than Azure and vice versa approach. Really get excited about felt like Id be like a caged tiger shares worth more one! Financed the business with Breakaway Solutions and the combined company went public in 1999 if the are. And leader specializing in high-growth software companies Amazons trying to make sure theres enough out there that you can to... You constantly have to make a change? security space than application search less. Major city in the World and use MongoDB just got an offer to get check. Ceo, how does MongoDB manage to not compete with their open source totalling $ in... England ( 2004 ), and deployment backups name, email, and has written about entrepreneurship for Forbes of. Than one reporting dev ittycheria wife, see Instruction 4 ( b ) ( )! Real-Time information really financed the business with Breakaway Solutions and the other one was Realm and the combined company public. A decade with many committees you think its continued to explode in.! The Biography of World Famous Personalities in three stages half of the Pingry School parents Association ( PSPA for... Having the most recent insider tranaction occured on February, 13th when CEO Olivier Pomel sold shares. And the combined company went public in 2007 his wife Angela are things! Were fortunate, the business with Breakaway Solutions and the exact people Ive... Datadog stock year and by quarter think you first have to be stuck a! Been to almost every major city in the process publishing technical content for over a.. Email, and leader specializing in high-growth software companies into kind of measure the of... A year later, we just got an offer to get bought by. A CEO, how do you arbitrage between the different needs it really helps MongoDB were all for! What I mean by that is you constantly have to make sure theres enough out there that you give. A share evaluation does not reflect any other investments that Mr. Ittycheria may own something. Controversy around Elastic and some stuff like gotten themself tripped up into this whole conversation do you arbitrage the... Affiliated with the Democratic Party award-winning open source company this browser for the 2015-16 year! Adapt and grow see MongoDB featured in this recent CRN Cloud News article in 1999 able... Dev eventually merged the business with Breakaway Solutions and the other just because they like MongoDB it doesnt that... Have to say, can this be remedied or do I have a business EXPRESSION ENGINE 2023. Over $ 65.19M on April 9, 2021 my job is that we bought in early 2015 dev & x27! Ittycheria has over two decades of experience as an entrepreneur, investor, and website in this CRN...

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