Well, its more like an application search logic. Licensing & Reprints. Its all over. One is a current Pingry student, and the other is joining Pingry this fall. Are you going after Databricks? Balanced lives continue to make great business sense. 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 C. Ittycheria, a software executive and venture capitalist, is president and CEO of database company MongoDB. We coexist with Oracle, we coexist with Microsoft, we coexist with other players, right? So our business starts and stops with developers. Dev Ittycheria is president and CEO of MongoDB. So Im thrilled to see when I started BladeLogic, I actually wanted to build it in New York city. 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 you can thrive as an infrastructure company without being open source. It also offers professional services including consulting and training. Saunders is an active volunteer for Pingry, and has been involved with many committees. The most recent insider tranaction occured on February, 13th when CEO Olivier Pomel sold 85,637 shares worth more than $7,075,328.94. Dev joined MongoDB in 2014 with a strong mix of entrepreneurial, operational and investing experience. China has owned the graphite market for decades. Like, oh my God, the adoption that people would say, youre not open source anymore. Select Personal Finance. 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. 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 . One of the other things customers care a lot about is getting rid of undifferentiated heavy lifting. Tue, Jun 15 2021 5:33 PM EDT. And so, one day you might find AWS competing with you and your core business. What does that look like? We partner with them on deals. They give us marketing dollars to drive customer demand. Mars Ingenuity helicopter code contributor. Save my name, email, and website in this browser for the next time I comment. For example, Snowflake is not an open source company. 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. 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 community really appreciates it as well. Credit: Dev Ittycheria, MongoDB . At the time representing by definition 0% of revenue, and then it progressed to presenting 23% of revenues in fiscal year 2019, 39% in 2020, and now 46% in 2021. And so I think the line or distinction between mobile and web apps will blur when you have that kind of network performance. A question from Alan, about was your strategy growing by acquisition and integration versus organically. Youre CEO of one and board member of the other. Itd be foolish to try and optimize for profitability. So depending on how big your deployment is, how much resources you need and it really ranges the gamut in terms of a variety of customers. This article about a United States businessperson is a stub. For Search, what we found was a lot of customers were dual homing data to both MongoDB and say Elastic. Dev graduated from Rutgers University with a B.S. The database firm turned in total revenues of $303.6 million, with a net loss of $118.9 million, up from $77.1 million a year ago. 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. And we decided to sell, and I became the president of BMC for a couple of years. Theres many reasons to do open source. So then our revenue forecast then drives an expense forecast. So Realm had gotten a lot of traction, but they also needed to synchronize data from the edge to the core. I have a CTO in Seattle, have a head of sales in Europe. And they said, we really want to embed all our OTP functionality along with application search in one platform, its much easier to maintain. MongoDB has e-commerce company Snapdeal and mobile . I started my career in some big companies. Balanced lives continue to make great business sense. SAS remains strongly committed to providing the whole employee experience - meaningful work But before you would run, lets say app A on one cloud, app B on another and app C in another. Learn More about insider trades at Datadog. So obviously theres lots of competing interests. Whats the strategy behind it? 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. Your California Privacy Rights/Privacy Policy. 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. No ones going to use your product. Dev founded his first technology company in 1998, and his leadership and board roles have resulted in 5 IPOs and 2 significant acquisitions. Have some success, build a relationship, get some confidence built around MongoDB, and then go after a new business. Obviously, with Atlas, it has to be deployed and delivered to the cloud. Were not trying to compete with Snowflake. And no matter how successful you are, 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. And then maybe theres some corner cases where they use something esoteric. So youre always trying to find that fine balance in terms of what the paywall is. Then I took some time off. And in a high growth business, not everyone scales at the same rate, right? Dev Ittycheria is the President and Chief Executive Officer at MongoDB. To build a community of people who wanted to just try and use MongoDB. They dont want to use a new database for every new use case. In the last year, insiders at the sold shares 34 times. 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. You shouldnt just be open source for the sake of being open source. In fact, sometimes I joke with my Chief People Officer that Im like a glorified head of HR because 80% of the issues Im dealing with are around people. And now we have a very distributed team. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. You have to ask yourself, why is open source an important element of the strategy? And then what are the right type of folks that you want as a growth stage startup versus as a public company? I think New York is turning out to be a pretty interesting place for tech. Dev Ittycheria is the Director of Datadog Inc and owns about 441,347 shares of Datadog Inc (DDOG) stock worth over $38 Million . Information on this page was last updated on 2/13/2023. 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. And our focus is really helping developers use data to build amazing applications. How do you work with cloud vendors? One is a current Pingry student, and the other is joining Pingry this fall. Dev Ittycheria CEO @ MongoDB New York, New York, United States 13K followers 500+ connections Join to view profile MongoDB Rutgers University About Senior executive with deep experience as an. This net worth evaluation does not reflect any other investments that Mr. Ittycheria may own. Dev is registered to vote in Somerset County, New Jersey. So once youre clear on the strategy, then a lot of the focus is on people. Then we said the developer in New York city, a developer in Silicon valley or a developer in Shanghai or Mumbai is not going to care whether this was an OSI approved license. 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. MongoDB was founded by developers for developers to provide a database designed for today's modern applications. 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. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. So you can scale very, very easily using MongoDB. The second thing that we announced was Real. So today MongoDB to your point is everywhere. So, global domination. 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. A lot of people sometimes confuse us, are you competing with Snowflake? Author of various open-source dev-tools and software libraries used by millions of developers worldwide. May 3, 2016. So I started my first company in 98, it was a first generation cloud computing company, actually as a company called Applica, which then merged with another company called Breakaway. The shares were sold at an average price of $199.96, for a transaction totalling $7,874,824.72. Ittycheria serves on the board of Datadog, a public software company. 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. Detailed information on the use of cookies on this site is provided in ourcookie policy. Theres a lot of fierce battles about what to do and what not to do. Well, yeah, I mean, we havent really seen a competition with the community. 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. There are 4 older and 12 younger executives at MongoDB Inc. Is that sort of bottoms up or is there also top down of AEs going directly to CIOs? So its actually encouraged entrepreneurs to keep companies in New York. 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. Ive had the pleasure of hosting two of MongoDBs co-founders over the years, first Dwight Merriman back in 2012 (here) and then CTO Eliot Horowitz in 2016 (here). Nov 3. They want to standardize and say a modern standard like MongoDB, maybe a relational standard like Postgres. Dev joined MongoDB in 2014 with a strong mix of entrepreneurial, operational and investing experience. And which is why it grew so quickly. We have now a lot of data in terms of productivity, our salesforce, what the ramp times are, et cetera. So the cheapest paid tier is like 9 bucks a month. So there werent as many people who had that entrepreneurial mindset. So youre still going to see a lot of Oracle out there. 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