It really comes from a lot of customer feedback and our intuition about the market. And actually I led the B round at Datadog. Learn More on MongoDB's active insiders. I have a GC in California and our philosophy is lets hire the best talent, no matter where they are within reason. I didnt want to be stuck behind a computer all day. As the CEO of MongoDB, Inc., Mr. Ittycheria earned a total compensation package of $10,566,757.00 in 2022. Chart Data in Insider Trading History Table. If developers dont use our product, we dont have a business. They purchased a total of 1,150,006 shares worth more than $79,339,605.34. So that is growing at about a 66% annualized growth rate. And what we also saw was that last year we had more downloads of our software than the first 10 years of the companys history. Berndt and her husband Andy and have two children, both of whom attend Pingry. Well, that feels like a great place to end. 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. Two, are they developing their teams in a way to get them to kind of really understand what needs to be done? 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. And we decided to sell, and I became the president of BMC for a couple of years. In fact, my predecessor at MongoDB was actually based out of California. Whats the strategy behind it? Think about supply chain apps where you have to have real-time information. So Google may have some capabilities that are better than Amazon, and Amazon has some capabilities better than Azure and vice versa. Notify me of follow-up comments by email. And so its not a secret, but since weve gone public three and a half years ago, weve had six C level changes, right? Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. Dev Ittycheria is the President and Chief Executive Officer at MongoDB. Like what can they do, how do you incorporate or partner with them? He also serves on the new stadium development team, set to open in 2016. He currently serves as the President & CEO of MongoDB. 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. For example, Snowflake is not an open source company. BY Christiaan . 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. 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. Saunders and her husband Brent support Community Hope, which provides housing and support services to veterans and individuals struggling with mental illness. I think New York is turning out to be a pretty interesting place for tech. And weve seen a lot of high profile outages, and so they worry about things like, Am I going to get the diversity?. So 99% of our growth has been organic. Balanced lives continue to make great business sense. MongoDB has also had a particularly impressive ride in public markets under your stewardship. I need to make sure I have the right people in the organization, especially at the executive team to go execute on that strategy. MongoDB has e-commerce company Snapdeal and mobile . Id like to talk about lessons in scaling. This net worth evaluation does not reflect any other investments that Mr. Ittycheria may own. Correct. So access to the world from New York is very easy and I like the heterogeneity of the culture. And we knew that we solved a very important problem. You have a multi-cloud offering now, right? That average rating was still higher than the top employers for Gen Z." Regardless of the generation you're a part of, MongoDB is a place that cultivates inclusion and provides boundless opportunity for . Enter your email address below to get our daily insider buying and selling report. Earlier in his career, he co-founded the software company Applica and served as president and CEO until it was purchased by Breakaway Solutions. In fact the cloud providers help subsidize the R&D effort to deploy Atlas on the comp platform, because remember theyre the beneficiaries of these workloads moved to their platform. Barral and his wife Angela are the parents of a Pingry alumnus and two current Pingry students. Ittycheria serves on the board of Datadog, a public software company. Now, why is that important? I think its absolutely fascinating and super impressive. Berndt has been a designer for National Geographic magazine and has experience in multimedia publishing and interior design. 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. By the way, I dont know if people realize this, but UiPath is pricing tonight and starting to trade tomorrow. Licensing & Reprints. 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. Dev Ittycheria. 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. By continuing to use this Site or by clicking "OK", you consent to the use of cookies.OK. How do you work with cloud vendors? 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? [Matt Turck] As a level set, heres a quick run through the history of MongoDB: Fast forward to today, the company has about 25,000 customers spanning a wider range of industries in more than a hundred countries around the world. Youre CEO of one and board member of the other. Great. Information on this page was last updated on 1/3/2023. And so itd be foolish to have close to a billion dollars in the bank. Dev C. Ittycheria Lead Independent Director, Datadog, Inc. Dev C. Ittycheria founded BladeLogic, Inc. and Applica Corp. 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. 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. MongoDBs path from unlikely NYC enterprise tech startup to global category leader has been amazing to watch. Well, I think happiness for a CEO is a great relationship with your board and having a high functioning, cohesive team under you, right? President & CEO of Mongodb Inc (30-Year Financial, Insider Trades) Dev Ittycheria (insider trades) sold 8,955 shares of MDB on 01/04/2021 at an average price of $345.11 a share. As they see success you say okay, lets use MongoDB for the next application or replatform an existing application. Saunders is an active volunteer for Pingry, and has been involved with many committees. And theyve actually helped subsidize and drive a lot of marketing, right? He is currently the CEO of MongoDB and a member of the board of directors at DataDog. Ittycheria and his wife, Dr. Anju Thomas, have two children. 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 Realm had gotten a lot of traction, but they also needed to synchronize data from the edge to the core. So one is linking to product market fit. Oracle is the most hated vendor in the tech industry today, but theres still tons of Oracle because its very hard to unravel every Oracle app that was built. In 2012, he became a partner at venture capital firm Greylock Partners.[3]. All right. And we also think therell be a lot of free usage of MongoDB out there. But look at Oracle. And they said, we really want to embed all our OTP functionality along with application search in one platform, its much easier to maintain. Sure. 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 . The oldest executive at MongoDB Inc is John McMahon, 64, who is the Director. Learn More about Dev Ittycheria's net worth. And then obviously capital was super expensive. 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. Yeah. 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. (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? Wilf and his wife Rachel have one child. Were not trying to compete with Snowflake. And we actually competed with LoudCloud, which was Marc and Bens company [Editor note: Andreessen and Horowitz]. If youre a young startup, is that the way to go or is there an evolution there? Obviously both MongoDB and Datadog are global companies, but given this event is Data Driven *NYC*, its worth pausing and realizing that those are basically the two major successes of enterprise tech in New York at least over the last few years. Chart Data in Insider Trading History Table. First name: Dev Last name: Ittycheria Profile image: Profile summary: 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. So as data volumes grow, their architecture has limitations. And as you get more and more traction, the velocity of the new wins start accelerating. And today were approaching 4,000 people and about $700 million in run rate. I can only imagine how many emails and pings you got, just now while you were kindly spending time with us. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. So being able to embed analytics is going to be even more important. And then you keep adding more stuff to it, like more features, more product expansion. Fast forward to today, the company has about 25,000 customers spanning a wider range of industries in more than a hundred countries around the world. And obviously in a start-up you have to be willing to trade cash for equity. How do you arbitrage and then how has it evolved over time? 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. Theres a lot of companies who try and do that and they struggle. And they have the right level. And then I like to ideally probe within, because you have a lot more data on someone who is inside the organization. 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. All these things matter in terms of building a real cloud service, and so thats something you want to think about. And so one of the things we did was we had a much more restrictive license because one of the things thats changed is that in the cloud era, the existing open source licenses are not really set up to help the originator of the code. February 13, 2023. 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. So today MongoDB to your point is everywhere. They sold a total of 897,213 shares worth more than $88,522,836.60. And so I said, why dont I do that? I personally love New York city, its my favorite city in the world. Theres a lot of fierce battles about what to do and what not to do. For access to live and exclusive vide. 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. It just gets a little bit monotonous where I think the cultural diversity of New York is something that I really appreciate. 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. So Im thrilled to see when I started BladeLogic, I actually wanted to build it in New York city. Don't let a crisis go to waste. Here is MongoDB President & CEO Dev Ittycheria. I need to be very clear on what our strategy is, at least the next couple of years. 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? Learn More about insider trades at Datadog. Is that for a company of the global scale of Mongo, is that still the core motion? 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. Great. MongoDB president and CEO Dev Ittycheria joins "TechCheck" to discuss the company's first quarter earnings and outlook. In terms of development, I think you bring up a very important point. Dev Ittycheria, CEO, at MongoDB joins. So data lakes, search, online archive and Realm, which was an acquisition, I believe. Whos moving up? It just alleviates them, and a customer will always tell us my competitive advantage is not by hiring more DBAs and more support staff my competitive edge is by building great product, adding new features, shipping features more quickly seizing new opportunities or responding to new threats really fast and investing more and more time and money and resources in maintaining, managing my data persistent architecture. Your email address will not be published. This was fascinating. Learn More on Dev Ittycheria's salary. I was ecstatic to see MongoDB featured in this recent CRN Cloud News article. RATINGS AND. 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. I mean, Oracle was founded in 1977. You know, theyve had Oracle RAC, sidecar and other ways to try and replicate. 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. 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. The company describes DocumentDB as a "fast, scalable, and highly available document database that . So therell be another big data driven tech company in New York. 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. Its just to say, theres a clear strategy there. And all of a sudden I saw these companies get funded. That company ended up hitting a wall because 70% of our customers were dot-coms when the bubble burst in 2000 and the venture capital dried up, but we actually had a real business. Following the acquisition, he served as President of BMC. Jonathan M. Peacock is chairman and CEO of Biotech company Bellerophon Therapeutics and is a board member of Kite Pharma. We partner with them on events. 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. 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. 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Children, both of whom attend Pingry to just say, theres a lot of battles. 99 % of our growth has been organic how has it evolved over time world. Site or by clicking `` OK '', you consent to the core motion for tech so thats something want... Scale, theres still no sort of temptation to just say,,... It just gets a little bit monotonous where I think the cultural diversity New. Dont I do that global scale of Mongo, is that still the core?! All these things matter in terms of development, I think you bring up a very important problem that. Of fierce battles about what to do and what not to do and what not do... A way to go or is there an evolution there mean, its great that developers love us is President... Supply chain apps where you have to have close to a billion dollars in the world be foolish to real-time. Realm, which was Marc and Bens company [ Editor note: Andreessen and Horowitz ] I led the round! Greylock Partners. 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