So Im thrilled to see when I started BladeLogic, I actually wanted to build it in New York city. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. And then as you know theres been a lot of friction between AWS and Elastic and other open source companies. (The 2016 Big Data Landscape), Resilience and Vibrancy: The 2020 Data & AI Landscape, A Turbulent Year: The 2019 Data & AI Landscape, Firing on All Cylinders: The 2017 Big Data Landscape, Great Power, Great Responsibility: The 2018 Big Data & AI Landscape, Internet of Things: Are We There Yet? And sometimes whos moving backwards. 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. So going after the database market is one of the largest markets in enterprise software. And we knew that we solved a very important problem. And people really wanted to maintain their cash comp, but then also have big equity. They align the sales compensation to incentivize working that have their sales people work with us. All right. Think about a financial app. 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. Now Amazons trying to make some extensions with Aurora to kind of make relational databases suck less, but they fundamentally have scalability problems. Dev Ittycheria, CEO, at MongoDB joins. 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 I think the line or distinction between mobile and web apps will blur when you have that kind of network performance. Learn More about Dev Ittycheria's net worth. So it went from zero to a $350 million run rate business when we announced our last quarters earnings. And so, what you as leader have to do, is this a fixable development issue? Wilf and his wife Rachel have one child. Dev eventually merged the business with Breakaway Solutions and the combined company went public in 1999. Whats the strategy behind it? So it allowed us to really capture value, but still also give compelling value to our customers. He founded two companies, led and scaled multiple software companies, and made personal and institutional investments in a number of other disruptive software companies. Learn More on Datadog's active insiders. Most recently, Dev Ittycheria sold 39,382 shares of the business's stock in a transaction on Tuesday, January 3rd. And so you really build a lot of muscles in terms of using the best, the cheapest form of financing is revenue, right? SAS remains strongly committed to providing the whole employee experience - meaningful work Developer speed is a proxy for innovation The supercloud is transforming the role of developers. [Dev Ittycheria] Correct. CNBC on Peacock. Berndt has been a designer for National Geographic magazine and has experience in multimedia publishing and interior design. We tell our salespeople to look for where the pain is in the organization. (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. And third, its not trivial to be both building software and running software. As they see success you say okay, lets use MongoDB for the next application or replatform an existing application. Don't let a crisis go to waste. China has owned the graphite market for decades. Join our upcoming webcast for twitter.com/i/web/status/1. The shares closed at $32.07 after the first day of trading, over 30% higher than the IPO price. MongoDB has also had a particularly impressive ride in public markets under your stewardship. MongoDB, the company behind the popular MongoDB open-source NoSQL database, has hired a new chief executive, Dev Ittycheria, who has experience taking a company public and selling it off. Thats the heart of the whole discussion. Tue, Jun 15 2021 5:33 PM EDT. 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. Think about supply chain apps where you have to have real-time information. Ittycheria and his wife, Dr. Anju Thomas, have two children. So youve done it time and again, and both before IPO and after. Most recently, Dev Ittycheria sold 37,500 shares of the business's stock in a transaction on Thursday, February 10th. This chart shows Dev Ittycheria's buying and selling at MongoDB by year and by quarter. Over the last ten years, MongoDB has grown from a bold idea into a company serving. 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. And so I encourage everyone to take the same approach. Dev Ittycheria joined MongoDB as President and CEO in 2014 and was formerly co-founder, president and CEO of BladeLogic. You were trying to recruit from the big banks and so forth. 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. Its fascinating for all of us who are looking at similar types of companies getting built. Enter your email address below to get our daily insider buying and selling report. Dev Ittycheria: Yeah and actually the irony is like when I was a VC in the early posts like the 2008 crash, a lot of people said, "Hey, we want to get away from these expensive sales and distribution models because we want to go with a high velocity kind of sales mile that's cheaper and easier." I would argue actually the sales challenge . Datadog can also be reached via phone at 866-329-4466 and via email at [emailprotected] Learn More on Dev Ittycheria's contact information. And we find the relationship kind of tends to be in three stages. Yes. You'll learn But at the time it was very hard to recruit people. Why do you think its continued to be so incredibly popular and in fact accelerating? So thats a good sign about how well they scale is by the quality of the team theyre recruiting, because it all starts with recruiting. And so one of the things we did was we had a much more restrictive license because one of the things thats changed is that in the cloud era, the existing open source licenses are not really set up to help the originator of the code. They sold a total of 897,213 shares worth more than $88,522,836.60. And so, one day you might find AWS competing with you and your core business. 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. Great. Most Popular. Correct. Dev Ittycheria. Mars Ingenuity helicopter code contributor. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. This was fascinating. 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. So its gone from zero to being almost half of the companys revenue. So we took all the benefits of the community, but we still preserved our ability to build a real software business. Join us for a morning of insights, inspiration, valueand breakfast. And in our business, its a land expand. 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. Literally there is not one country, once city in the world, I dont think someones not using MongoDB. Well, yeah, I mean, we havent really seen a competition with the community. One was Realm and the other one was WiredTiger, which is a storage engine that we bought in early 2015. So thats why weve gotten so much popularity and thats why weve taken off. Here is MongoDB President & CEO Dev Ittycheria. MongoDB has also had a particularly impressive ride in public markets under your stewardship. I really appreciate it. If you think about mobile, everyones going with a mobile first strategy, especially with the advent of 5G, when network speeds will be hundred times faster, at least we hope than what we get with LTE or 4G. And we want to get that first workload. Prior to MongoDB, Ittycheria was the Co-founder & CEO of BladeLogic and the President of BMC Software. How do they kind of quickly triangulate on issues and resolve them quickly? 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 . And so its not a secret, but since weve gone public three and a half years ago, weve had six C level changes, right? Dev Ittycheria is president and CEO of MongoDB. So youre still going to see a lot of Oracle out there. Learn More about insider trades at Datadog. So the two big reasons why it helps customers is one, it just makes it that easy to consume MongoDB because MongoDB has had a very strong product market fit. A tech CEO spent almost $600,000 on a Super Bowl ad to warn America about Tesla's self-driving technology. So we have to make sure we drive a lot of developer enthusiasm by using MongoDB. And we decided to sell, and I became the president of BMC for a couple of years. 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. The Biggest "Missing Ingredient" in the $7 Trillion EV Market. If youre a young startup, is that the way to go or is there an evolution there? 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. We bought that just to kind of get some mass customer momentum around atlas. We coexist with Oracle, we coexist with Microsoft, we coexist with other players, right? In 2012, he became a partner at venture capital firm Greylock Partners.[3]. And so there was a dual headquarter, but very quickly we moved the center of gravity to New York and thats served us well. Company serving not using MongoDB align the sales compensation to incentivize working that have their sales people work with.! In a transaction on Thursday, February 10th so, what you as leader have to make some with! Bowl ad to warn America about Tesla & # x27 ; t let crisis... After the first day of trading, over 30 % higher than the IPO price get some mass customer around... S self-driving technology and people really wanted to build it dev ittycheria wife New city... And CEO in 2014 and was formerly co-founder, President and CEO of BladeLogic and the President of BMC.. Web apps will blur when you have to do, is that the way to go is. 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