I will start by reviewing our first-quarter results before giving you a. As a member of Board of Directors at Datadog, Inc., Dev Ittycheria made $258,183 in total compensation. Learn More about Dev Ittycheria's net worth. And I break it down into kind of three things. 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. Yeah, its a good question. So obviously theres lots of competing interests. 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. It was a lot of worries. And so, one day you might find AWS competing with you and your core business. MongoDBs path from unlikely NYC enterprise tech startup to global category leader has been amazing to watch. 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. Share Background Report Overview of Dev C Ittycheria Lives in: Warren, New Jersey Phone: View phone number Age: 56 Dev Ittycheria's Voter Registration Information on this page was last updated on 2/13/2023. You'll learn I would say theres two big reasons why customers love Atlas and one big reason why it really helps MongoDB. 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? The estimated net worth of Dev Ittycheria is at least $39.95 million as of January 3rd, 2023. They say, is it free? But just because they like MongoDB it doesnt mean that youre going to get a check in the mail from the customer, right? He is a trustee of Pingry, a private day school based in Basking Ridge, New Jersey, where the fees and other costs for the 2021-22 school year total $50,000. And people really wanted to maintain their cash comp, but then also have big equity. Then I took some time off. We partner with them on deals. Dev C. Ittycheria Lead Independent Director, Datadog, Inc. Dev C. Ittycheria founded BladeLogic, Inc. and Applica Corp. Dev eventually merged the business with Breakaway Solutions and the combined company went public in 1999. ), TRANSCRIPT (edited for clarity and brevity). Dev Ittycheria has not been actively trading shares of Datadog during the last quarter. What I mean by that is you constantly have to work at your trade craft. Well, I think happiness for a CEO is a great relationship with your board and having a high functioning, cohesive team under you, right? So its tricky, but this is part of leadership, right? 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. MongoDB, Inc. engages in the development and provision of a general-purpose database platform. And obviously in a start-up you have to be willing to trade cash for equity. Learn More on Dev Ittycheria's trading history. 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 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. Very good. We think it would be very unfair for someone to just pick a free version, make money off it and not give anything back. 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. So you have to then translate developer enthusiasm and interest into a real business value proposition for some decision makers. And we also think therell be a lot of free usage of MongoDB out there. So we have to make sure we drive a lot of developer enthusiasm by using 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. We tell our salespeople to look for where the pain is in the organization. So what customers want to focus on is where am I having the most pain? February 13, 2023. Notify me of follow-up comments by email. Switching to the discussion to Go to Market strategies, you use open source as a freemium kind of strategy. 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. 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. Prior to this position, he was managing director at OpenView Partners. 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. 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. And thats when you see the relationship with the customer grow fast. The corporate mailing address for Mr. Ittycheria and other MongoDB executives is 1633 BROADWAY 38TH FLOOR, NEW YORK NY, 10019. Your email address will not be published. Learn More about Dev Ittycheria's net worth. Getting revenue from your customers. Like what can they do, how do you incorporate or partner with them? Well, we essentially solve that problem by coming out with our document architecture, which is much more conducive to the way developers think and the way developers code. We came up with SSPL, it was fairly controversial. Its almost like watching someone swim and is starting to struggle when theyre maybe starting to keep their head above water, you can start seeing the decisions theyre making. So its allowed us to build a real business, allowed us to invest back into the product. 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. We made an acquisition of Mlab, which is a first generation database service offering MongoDB. 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. 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). Sometimes theres a little bit of blood on the walls. So then our revenue forecast then drives an expense forecast. So well have a 3rd big, and their valuation I think will be quite large. . And Elastic themselves are growing more towards the security space than application search. 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. One is a current Pingry student, and the other is joining Pingry this fall. All these things matter in terms of building a real cloud service, and so thats something you want to think about. Right? And sometimes whos moving backwards. Lets make it a standard. Licensing & Reprints. Dev Ittycheria. So being able to do that was very challenging, because with mobile, you have online and offline connectivity and you need to be able to still use the app, but then synchronize when you get back online and conversely, you need to get updates from the backend server. First, you kind of land a workload or a few workloads. It really comes from a lot of customer feedback and our intuition about the market. 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? In 2012, he became a partner at venture capital firm Greylock Partners.[3]. MongoDB is designed from the ground up to be highly scalable. Obviously were not going to hire someone in some island in the south Pacific, but within reason we can make that work and that allows us to really build the best team possible. Learn More about Dev Ittycheria's net worth. MongoDB has also had a particularly impressive ride in public markets under your stewardship. For example, Snowflake is not an open source company. Previously, Barral was managing director at Barclays Capital and JP Morgan in convertible sales and trading. 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. But again, it all depends on what the strategy is. Awais loves the purple color; purple can be genius. And thats a pretty difficult challenge for developers. In its last fiscal year,. I need to make sure I have the right people in the organization, especially at the executive team to go execute on that strategy. 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. Jonathan M. Peacock is chairman and CEO of Biotech. Ittycheria currently serves on the board of directors for public software company, Datadog, and blank-check company, Altimeter Growth Corporation. Saunders and her husband Brent support Community Hope, which provides housing and support services to veterans and individuals struggling with mental illness. Its not always a CIO, it could be the VP of Infrastructure. How do you think about this? So we have to work with the cloud provider. So we have never been more popular than we are today. I have a CTO in Seattle, have a head of sales in Europe. Dev joined MongoDB in 2014 with a strong mix of entrepreneurial, operational and investing experience. They want to standardize and say a modern standard like MongoDB, maybe a relational standard like Postgres. 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. So theres a little bit of sausage making in the process. 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 also serves on the board of directors of DataRobot, a private software company. He holds a B.S. And they said, this is crazy. Dev Ittycheria, by /s/ Ron A. Metzger, Attorney-in-Fact: 02/14/2022 ** Signature of Reporting Person: Date: Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. 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 . 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. 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. The estimated net worth of Dev Ittycheria is at least $14.31 million as of January 3rd, 2023. Dev Ittycheria has experience as an entrepreneur, operator, and investor. Insiders at MongoDB own 5.7% of the company. $70 per post at $7/CPM. If youre just trying to build a product to just get adoption and you dont really care about monetizing, then open source makes sense. Then the challenge becomes if Im going to have a lot more data at the edge, how do I manage that data so people want a very easy to use mobile database and theres a lot of innovation in the mobile client. Its more to help developers because we believe that applications of the future and even today are more and more instrumenting the business, applications are now embedding analytics, especially real-time analytics into apps. I still stayed on the Datadog board and Im actually on the board today. According to a regulatory filing issued this week, which was signed by MongoDB CEO Dev Ittycheria, MongoDB has closed on $79.99 million so far in an equity offering worth a total of $100 million . And all of a sudden I saw these companies get funded. SAS remains strongly committed to providing the whole employee experience - meaningful work We have replication sharding built into our architecture. And I obviously have to acknowledge my team. Whats the strategy behind it? Required fields are marked *. 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. So thats the ideal state. I started my career in some big companies. Before MongoDB, Dev was a Managing Director at OpenView Venture Partners and before that he was a Venture Partner at Greylock Partners. One, the relational database, where youre trying to basically disaggregate data into rows and columns is a very counterintuitive way to model data. And in our business, its a land expand. Dev Ittycheria is the President and Chief Executive Officer at MongoDB. And I need to remove any barriers, whether the cultural barriers, financial barriers, organizational barriers, to make sure people are set up for success. Well, one, we run on all three clouds. 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. Its all over. Class of 1978, in a prepared statement. Managing a distributed database can be quite challenging. That kind of drives our top line forecast. Its platform also provides user experience monitoring, network performance monitoring, cloud security, developer-focused observability, and incident management, as well as a range of shared features, such as dashboards, analytics, collaboration tools, and alerting capabilities. SAS remains strongly committed to providing the whole employee experience - meaningful work [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. The company was incorporated in 2010 and is headquartered in New York, New York. So we really financed the business through customers and we ended up going public in 2007. For the open source geeks out there, that was the evolution from a license known as AGPL to SSPL. So data lakes, search, online archive and Realm, which was an acquisition, I believe. Its just to say, theres a clear strategy there. Is there stuff on their product roadmap that you can talk about? 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. Yes. 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. And they said, we really want to embed all our OTP functionality along with application search in one platform, its much easier to maintain. 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. Dev Ittycheria Biography. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. Yeah. Join our upcoming webcast for twitter.com/i/web/status/1. Then flying anywhere from New York is so easy. And then one last question from Julia, how does MongoDB manage to not compete with their open source community? RATINGS AND. And you see people from all walks of life. Thank you, Matt. We dont have to manage two systems, learn two platforms, etc. And we knew that we solved a very important problem. The. 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