Your California Privacy Rights/Privacy Policy. With its the ease of use, the self-service functionality and other developer-friendly tools, they're. Whos moving up? 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. BY Christiaan . 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. Theres many reasons to do open source. . 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. 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. Learn More about Dev Ittycheria's net worth. Lets make it a standard. And Ive been to almost every major city in the world. Is that sort of bottoms up or is there also top down of AEs going directly to CIOs? 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. Before MongoDB, Dev was a Managing Director at OpenView Venture Partners and before that he was a Venture Partner at Greylock Partners. And actually I led the B round at Datadog. One is a current Pingry student, and the other is joining Pingry this fall. Earlier in his career, he co-founded the software company Applica and served as president and CEO until it was purchased by Breakaway Solutions. Credit: Dev Ittycheria, MongoDB . Learn More on Dev Ittycheria's trading history. Thats the heart of the whole discussion. 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. And so its not a secret, but since weve gone public three and a half years ago, weve had six C level changes, right? Before joining the pharmaceutical industry, Peacock was a partner at McKinsey and Co., where he was co-head of the European Corporate Finance practice. Dev Ittycheria is president and CEO of MongoDB. 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 you can scale very, very easily using MongoDB. Learn More on Dev Ittycheria's trading history. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. And then we review all the projects and get people to rank all the new investments, as well as all the existing investments are doing. 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. Ittycheria currently serves on the board of directors for public software company, Datadog, and blank-check company, Altimeter Growth Corporation. And if you just keep trying to run the same playbook, youre going to hit a wall. We coexist with Oracle, we coexist with Microsoft, we coexist with other players, right? So Google may have some capabilities that are better than Amazon, and Amazon has some capabilities better than Azure and vice versa. So you need to make sure you invest in both, right? The shares closed at $32.07 after the first day of trading, over 30% higher than the IPO price. And then as you know theres been a lot of friction between AWS and Elastic and other open source companies. Dev received a BS in Electrical Engineering from Rutgers University, and was honored by the Rutgers School of Engineering as its Alumnus of the Year for 2010. And they said, this is crazy. And for additional context, thats a current controversy around Elastic and some stuff like gotten themself tripped up into this whole conversation. 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? And sometimes whos moving backwards. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. Dev Ittycheria is an American software executive, entrepreneur, venture capitalist, and the president and CEO of MongoDB, a popular next-generation database. Berndt is also a volunteer and board member with several other educational organizations. So the cheapest paid tier is like 9 bucks a month. MongoDB is designed from the ground up to be highly scalable. Atlas, which is your database as a service offering, was launched in late 2016. So once youre clear on the strategy, then a lot of the focus is on people. 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. 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. 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. Great. But again, it all depends on what the strategy is. So 2014 turned out to be a pretty interesting year for me. (The 2016 IoT Landscape), Growing Pains: The 2018 Internet of Things Landscape, The evolution of enterprise tech in New York, MongoDBs database as a service offering, Atlas, Being a student of the game rather than a master of the game. This chart shows Dev Ittycheria's buying and selling at Datadog by year and by quarter. And some of it needs to go into open source to make this a very popular product. We recognize the markets large enough and we feel like were well positioned. After co-founding the business in 2001, he went on to take the company public in 2007, and then sold it to BMC Software in 2008 for approximately $ 900 million. 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. What are the key drivers behind that? I also felt like I could add some value to MongoDB. 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 thats when you see the relationship with the customer grow fast. 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 . 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? So that is growing at about a 66% annualized growth rate. We need to make MongoDB a standard. And now we have a very distributed team. Then flying anywhere from New York is so easy. 1611 W Harrison St Ste 400, Chicago, IL, 60612 3 other locations (312) 243-4244 OVERVIEW Dr. Thomas works in Chicago, IL and 3 other locations and specializes in Nurse Practitioner. Following the acquisition, he served as President of BMC. 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.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. 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. It doesnt make a lot of sense when I look at it from a strategic point of view. 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. 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. So going after the database market is one of the largest markets in enterprise software. Prior to this position, he was managing director at OpenView Partners. Insiders at MongoDB own 5.7% of the company. Learn More on MongoDB's active insiders. And we also think therell be a lot of free usage of MongoDB out there. 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. CNBC on Peacock. And then obviously capital was super expensive. And they said, we really want to embed all our OTP functionality along with application search in one platform, its much easier to maintain. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. So I always have the mindset about what do I need to think about, Okay, where will the business not be today, but where will the business be two, three years from now? [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. Managing a distributed database can be quite challenging. Remarkable. Before MongoDB, Dev was a Managing Director at OpenView Venture Partners and before that he was a Venture Partner at Greylock Partners. Get notified of the Biography of World Famous Personalities. Notify me of follow-up comments by email. 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 . 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 it was a real treat this time to get to chat with CEO Dev Ittycheria, who has been leading the company since 2014, and it particular has presided over the companys remarkable ride in public markets since its 2017 IPO. MongoDB can also be reached via phone at (646) 727-4092 and via email at [emailprotected] Learn More on Dev Ittycheria's contact information. This net worth evaluation does not reflect any other investments that Mr. Ittycheria may own. 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. Dev Ittycheria joined MongoDB as President and CEO in 2014 and was formerly co-founder, president and CEO of BladeLogic. He has been a member of the Minnesota Vikings ownership group for a decade, and serves as the teams executive vice president strategic planning and business initiatives. That kind of drives our top line forecast. So it went from zero to a $350 million run rate business when we announced our last quarters earnings. Whats good for us as a company is that prior to Atlas, we had our free version and our paid version, and we had a classic open source problem where you have to figure out where the paywall is, right? Like, oh my God, the adoption that people would say, youre not open source anymore. So obviously with our strategy, were not changing that every day. 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. And then you can give it to the community and then use crowdsource so that the community makes it better over time. But obviously with COVID weve learned to collaborate. So being able to embed analytics is going to be even more important. So youve done it time and again, and both before IPO and after. The second big challenge is that relational databases are not designed for scale. Dev graduated from Rutgers University with a B.S. So its actually encouraged entrepreneurs to keep companies in New York. Well, with a service, with open source as a service, you can monetize everything because youre just paying as you go. Yeah, its a good question. 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. And thats a pretty difficult challenge for developers. 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? You shouldnt just be open source for the sake of being open source. We have a great team and Im very fortunate to be able to work with a very talented team and be able to do what we do every day. Amy B. Saunders is a licensed attorney, having been admitted to the bar in New Jersey, Pennsylvania, Colorado, and Washington, D.C. We partner with them on deals. Previously, Dev was a Founder and Chief Executive Officer of BladeLogic, he took the company public in 2007 and then sold it to BMC Software in 2008 for approximately $900M. 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