We recognize the markets large enough and we feel like were well positioned. Well, that feels like a great place to end. Learn More on Dev Ittycheria's trading history. Dev is currently a member of the board of directors for Athena Health (Nasdaq: ATHN) and Bazaarvoice, and serves as an advisor to a number of leading private equity and venture capital firms. First, you kind of land a workload or a few workloads. And what essentially Mongo DB did was address two fundamental problems with the relational database. Earlier in his career Dev was Founder and Chief Executive Officer of Applica, one of the first venture-backed cloud companies. May 3, 2016. Dev also serves on the board of directors of DataRobot, a private software company. The estimated net worth of Dev Ittycheria is at least $39.95 million as of January 3rd, 2023. Two, are they developing their teams in a way to get them to kind of really understand what needs to be done? And so we feel good about the opportunity in front of us. So Google may have some capabilities that are better than Amazon, and Amazon has some capabilities better than Azure and vice versa. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. And so I really wanted to be at what I felt where the action was, which doesnt mean that what other people are doing is not interesting. 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 they can pick and choose which services to use from which phone providers. And I break it down into kind of three things. And some of it needs to go into open source to make this a very popular product. 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. Were not trying to compete with Snowflake. My job is that I need to do three things well. Learn More on MongoDB's active insiders. Most Popular. So there werent as many people who had that entrepreneurial mindset. So thats the ideal state. 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. Switching to the discussion to Go to Market strategies, you use open source as a freemium kind of strategy. So youve done it time and again, and both before IPO and after. 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). The company describes DocumentDB as a "fast, scalable, and highly available document database that . Following the acquisition, he served as President of BMC. Theres many reasons to do open source. So, global domination. 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 youll see us expand into other capabilities that developers need to build applications. In its last fiscal year,. Join our upcoming webcast for twitter.com/i/web/status/1. Dev Ittycheria is an American software executive, entrepreneur, venture capitalist, and the president and CEO of MongoDB, a popular next-generation database. The company also renders enterprise software integration, platform certification, and commercial licensing services. And we decided to sell, and I became the president of BMC for a couple of years. 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. Jonathan M. Peacock is chairman and CEO of Biotech company Bellerophon Therapeutics and is a board member of Kite Pharma. 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. Wilf and his wife Rachel have one child. But the U.S. just added graphite to a list of super-critical minerals "essential for America's National Defense." Well, thank you, man. During the last ninety days, Dev Ittycheria has sold $7,874,824.72 in shares of MongoDB stock. Learn More about Dev Ittycheria's net worth. 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 Realm had gotten a lot of traction, but they also needed to synchronize data from the edge to the core. Berndt is also a volunteer and board member with several other educational organizations. I felt like Id be like a caged tiger. So it was a very fair trade. 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. So when we raised $29 million total and had $7 million in the bank when we filed to go public, we went public in 2007. Ittycheria serves on the board of Datadog, a public software company. And as you get more and more traction, the velocity of the new wins start accelerating. MongoDBs open source project has continued to explode in popularity. So going after the database market is one of the largest markets in enterprise software. Berndt has been a designer for National Geographic magazine and has experience in multimedia publishing and interior design. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. Were enabling people to use the power of our query language to create data not just from MongoDB, but from other sources. And thats when you see the relationship with the customer grow fast. 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. MongoDB, Inc. (NASDAQ:NASDAQ:MDB) Q1 2023 Earnings Conference Call June 1, 2022 5:00 PM ETCompany ParticipantsBrian Denyeau - IR, ICRDev Ittycheria - President and Chief Executive. At some point you have to say, Can this be remedied or do I have to make a change?. I have a GC in California and our philosophy is lets hire the best talent, no matter where they are within reason. And in our business, its a land expand. Dev graduated from Rutgers University with a B.S. And typically we see a lot of consolidation happening now in large companies. 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 at the time it was very hard to recruit people. February 13, 2023. 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. Datadog, Inc. provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. Dev Ittycheria is president and CEO of MongoDB. Dev Ittycheria is the Director of Datadog Inc and owns about 441,347 shares of Datadog Inc (DDOG) stock worth over $38 Million . How do they kind of quickly triangulate on issues and resolve them quickly? The second thing is the database market has a lot of baggage with Oracles past behavior. Enter your email address to subscribe to this blog and receive notifications of new posts by email. On this Wikipedia the language links are at the top of the page across from the article title. So it allowed us to really capture value, but still also give compelling value to our customers. And no matter how successful you are, right? 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. The estimated net worth of Dev Ittycheria is at least $16.88 million as of January 3rd, 2023. . He is also the Lead Independent Director at . The estimated net worth of Dev Ittycheria is at least $14.31 million as of January 3rd, 2023. 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. No ones going to use your product. Even at your scale there is a finite amount of resources. You know, or Dremio or other companies like that? You can help Wikipedia by expanding it. Learn More about Dev Ittycheria's net worth. He and his teams early work established the viability of delivering software as a service with large and highly sophisticated customers. 8th GitHub Stars Award recipient. MongoDB was founded by developers for developers to provide a database designed for today's modern applications. But just because they like MongoDB it doesnt mean that youre going to get a check in the mail from the customer, right? And third, its not trivial to be both building software and running software. 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. Peacock is a chartered accountant. And theyve actually helped subsidize and drive a lot of marketing, right? So its gone from zero to being almost half of the companys revenue. They can kill a deal by saying, Ill never use MongoDB and youre done. So the cheapest paid tier is like 9 bucks a month. So access to the world from New York is very easy and I like the heterogeneity of the culture. This article about a United States businessperson is a stub. The second thing that we announced was Real. Detailed information on the use of cookies on this site is provided in ourcookie policy. CNBC on Peacock. The. Dev graduated from Rutgers University with a B.S. Learn More about insider trades at Datadog. In the last year, Datadog insiders bought shares 4 times. Have some success, build a relationship, get some confidence built around MongoDB, and then go after a new business. 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? 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. Think about supply chain apps where you have to have real-time information. 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. Learn More about insider trades at MongoDB. Its not all tech all the time and in the Valley, you go to a soccer game and you just run into VCs and entrepreneurs and engineers. Author of various open-source dev-tools and software libraries used by millions of developers worldwide. This net worth evaluation does not reflect any other investments that Mr. Ittycheria may own. And so its not a secret, but since weve gone public three and a half years ago, weve had six C level changes, right? Well, if youre a customer in Australia or youre a customer in Canada, Amazon, or say Azure may only have one region. 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. And for additional context, thats a current controversy around Elastic and some stuff like gotten themself tripped up into this whole conversation. 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