Well, I think happiness for a CEO is a great relationship with your board and having a high functioning, cohesive team under you, right? If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. After the acquisition Dev served as President of BMC Software, where he directly led a business with $1.4B in annual revenue and more than 4,000 employees. So it was a very fair trade. Very good. Why do you think its continued to be so incredibly popular and in fact accelerating? Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. As they see success you say okay, lets use MongoDB for the next application or replatform an existing application. So with this whole complexity of open source and cloud and the relationship, what do you think of, I guess, open source in 2021 for a young company? Is this a fatal flaw? Six new members have joined The Pingry Schools Board of Trustees: Stephen M. Barral of Bernardsville, Elliot S. Berndt of Maplewood, Dev C. Ittycheria of Warren, Jonathan M. Peacock of Morristown, Amy B. Saunders of Far Hills, and Jonathan Z. Wilf of Short Hills. 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. They purchased a total of 1,150,006 shares worth more than $79,339,605.34. Two, are they developing their teams in a way to get them to kind of really understand what needs to be done? But why dont we go directly to the CIO because everyone knows Mongo, right? 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. Notify me of follow-up comments by email. So we really financed the business through customers and we ended up going public in 2007. Image: Joao-Pierre S. Ruth. Barral and his wife Angela are the parents of a Pingry alumnus and two current Pingry students. No ones going to use your product. 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? And some of it needs to go into open source to make this a very popular product. Learn More on MongoDB's active insiders. We dont have to manage two systems, learn two platforms, etc. So the cheapest paid tier is like 9 bucks a month. But at the time it was very hard to recruit people. I can only imagine how many emails and pings you got, just now while you were kindly spending time with us. And in a high growth business, not everyone scales at the same rate, right? 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. So Realm had gotten a lot of traction, but they also needed to synchronize data from the edge to the core. So youll see us expand into other capabilities that developers need to build applications. And theyve actually helped subsidize and drive a lot of marketing, right? Dev is registered to vote in Somerset County, New Jersey. You shouldnt just be open source for the sake of being open source. 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. Learn More on Dev Ittycheria's contact information. Learn More on Dev Ittycheria's trading history. Then I took some time off. Learn More on Datadog's active insiders. So thats the ideal state. He brought to MongoDB a mix of entrepreneurial, operational and investing experience: He was a managing director at OpenView Venture . Well, thank you, man. 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). There was no prior art. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. I need to be very clear on what our strategy is, at least the next couple of years. Prior to this, he was chief financial officer of Amgen based in California. But the U.S. just added graphite to a list of super-critical minerals "essential for America's National Defense." In 2012, he became a partner at venture capital firm Greylock Partners.[3]. Dev C. Ittycheria, a software executive and venture capitalist, is president and CEO of database company MongoDB. PDF. Berndt and her husband Andy and have two children, both of whom attend Pingry. So after IPO, maybe talk to teams and hiring and what do you want to do before IPO versus IPO? SAS remains strongly committed to providing the whole employee experience - meaningful work We said, we invest a lot in the product. 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 . Previously, he was Managing Director at OpenView Venture Partners, Venture Partner at Greylock Partners, and co-founder of BladeLogic, which was acquired by BMC for $900 million. Well, I think you first have to ask yourself, why are you trying to be an open source? * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). Dev Ittycheria is the Director of Datadog Inc and owns about 441,347 shares of Datadog Inc (DDOG) stock worth over $38 Million . The most successful open source companies go after big markets, because by definition, you cant monetize all your usage. Switching to the discussion to Go to Market strategies, you use open source as a freemium kind of strategy. Before MongoDB, Dev was a Managing Director at OpenView Venture Partners and before that he was a Venture Partner at Greylock Partners. Learn More about Dev Ittycheria's net worth. MongoDB serves customers worldwide by providing an open-source database platform for automating, monitoring, and deployment backups. Detailed information on the use of cookies on this site is provided in ourcookie policy. 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. Theyve done a fantastic job. 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? Thank you, Matt. For access to live and exclusive vide. 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. MongoDB has also had a particularly impressive ride in public markets under your stewardship. Datadog, Inc. provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. Yeah, its a good question. 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. So what customers want to focus on is where am I having the most pain? Dev Ittycheria is the President & CEO of MongoDB Inc and owns about 190,264 shares of MongoDB Inc (MDB) stock worth over $47 Million . They sold a total of 897,213 shares worth more than $88,522,836.60. China has owned the graphite market for decades. Its not always a CIO, it could be the VP of Infrastructure. He founded two companies, led and scaled multiple software companies, and made personal and institutional investments in a number of other disruptive software companies. 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. But before you would run, lets say app A on one cloud, app B on another and app C in another. Whos moving up? Obviously, with Atlas, it has to be deployed and delivered to the cloud. Join our upcoming webcast for twitter.com/i/web/status/1. Then flying anywhere from New York is so easy. So youve done it time and again, and both before IPO and after. Class of 1978, in a prepared statement. Biography of Dev Ittycheria. Literally there is not one country, once city in the world, I dont think someones not using MongoDB. All right, to close maybe just a couple of questions from the group. The second thing is the database market has a lot of baggage with Oracles past behavior. Following the acquisition, he served as President of BMC. Dev Ittycheria Wiki, Bio, Age, Family & More. And thats something that you guys created right? February 13, 2023. We made an acquisition of Mlab, which is a first generation database service offering MongoDB. Dev founded his first technology company in 1998, and his leadership and board roles have resulted in 5 IPOs and 2 significant acquisitions. 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 . In fact, weve invested over $700 million in R&D since we started the company and more than 50% of that goes to the free product. CNBC on Peacock. That kind of drives our top line forecast. And I obviously have to acknowledge my team. The shares were sold at an average price of $199.96, for a transaction totalling $7,874,824.72. We wanted to leverage the virality of open source to get broad adoption. 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. 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. Learn More on Dev Ittycheria's trading history. The second thing that we announced was Real. One, the relational database, where youre trying to basically disaggregate data into rows and columns is a very counterintuitive way to model data. And then maybe theres some corner cases where they use something esoteric. Its just to say, theres a clear strategy there. And that essentially means that you now have the full organizations endorsement to be the platform of choice. And so I encourage everyone to take the same approach. Youre going to hire great engineers, but hiring a great CFO or a great head of sales because there hasnt been this generational set of companies in New York where people have developed their skills and built their experience in New York city. Prior to MongoDB, Ittycheria was the Co-founder & CEO of BladeLogic and the President of BMC Software. ), TRANSCRIPT (edited for clarity and brevity). So youre still going to see a lot of Oracle out there. And if you just keep trying to run the same playbook, youre going to hit a wall. Its all over. Mr. Ittycheria earned a salary of $400,000.00, stock awards of $10,135,257.00, and other compensation of $31,500.00. My philosophy in life has always been, always be the student of the game, not the master of the game. Awais loves the purple color; purple can be genius. Developer speed is a proxy for innovation The supercloud is transforming the role of developers. 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. One is a current Pingry student, and the other is joining Pingry this fall. Lets make it a standard. The most recent insider tranaction occured on February, 13th when CEO Olivier Pomel sold 85,637 shares worth more than $7,075,328.94. During his tenure, MongoDB has launched innovative products like cloud database, Atlas, garnered numerous customers, outperformed comparable competitors financially, and expanded operations worldwide. Dev Ittycheria is the President & CEO of MongoDB, where he led its IPO in 2017the first public offering of a database company in more than 25 years. 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. So 99% of our growth has been organic. Your competition is changing. Monetization is not the only one. Can I modify the source code? Theres a lot of companies who try and do that and they struggle. MongoDB's insider roster includes Archana Agrawal (Director), Thomas Bull (Insider), Hope Cochran (Director), Michael Gordon (CFO), Charles Hazard, Jr. (Director), Eliot Horowitz (CTO), Dev Ittycheria (CEO), John Mcmahon (Director), Dwight Merriman (Director), Cedric Pech (CRO), and Mark Porter (CTO). A question from Alan, about was your strategy growing by acquisition and integration versus organically. Currently, Mr. Ittycheria holds the position of President, Chief. They give us marketing dollars to drive customer demand. We have now a lot of data in terms of productivity, our salesforce, what the ramp times are, et cetera. I didnt want to be stuck behind a computer all day. We are very fortunate to be welcoming a terrific new class of trustees. Well, yeah, I mean, we havent really seen a competition with the community. Perfect timing for a "made in America" graphite company looking to mine, manufacture, and recycle graphite for the booming electric car market. He holds a B.S. Jonathan M. Peacock is chairman and CEO of Biotech company Bellerophon Therapeutics and is a board member of Kite Pharma. 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. Dev Ittycheria. 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. So obviously theres lots of competing interests. We recognize the markets large enough and we feel like were well positioned. Itd be foolish to try and optimize for profitability. So one is linking to product market fit. Then a year later, we just got an offer to get bought out by BMC. Save my name, email, and website in this browser for the next time I comment. So we think about how quickly we can grow our top line relative to our productivity and how fast we can hire. Previously being a founder, operator, investor and board member has given him a "360 degree" perspective of businesses, which informs his approach to leadership and building companies. Were enabling people to use the power of our query language to create data not just from MongoDB, but from other sources. 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. Enter your email address to subscribe to this blog and receive notifications of new posts by email. I think its absolutely fascinating and super impressive. So your impact on the NYC tech ecosystem has just been insane. Mars Ingenuity helicopter code contributor. We dont want to do that. 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. And were not trying to be a data warehouse. Great. Dev Ittycheria has experience as an entrepreneur, operator, and investor. 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 . Yeah, so I think you have to really understand customer buying behavior because even if the CIO says, I want to standardize on MongoDB. They dont have the time or the resources to replatform every app onto MongoDB. 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