There was no prior art. 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 . This chart shows Dev Ittycheria's buying and selling at MongoDB by year and by quarter. So 2014 turned out to be a pretty interesting year for me. And then maybe theres some corner cases where they use something esoteric. He currently serves as the President & CEO of MongoDB. So its gone from zero to being almost half of the companys revenue. 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. 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 . So its actually encouraged entrepreneurs to keep companies in New York. You have a multi-cloud offering now, right? And so given that, companies do like the fact that they can leverage MongoDB to run on any cloud provider and leverage the best of breed services, because the cloud providers are competing against each other. So, global domination. Class of 1978, in a prepared statement. Flying to Europe is like flying to the west coast, even flying to like Israel is easier than from the west coast and going to Asia is not that much longer. Whether youre a multi time CEO or a first time founder, or someone whos just become a first-time manager, you got promoted from an individual contributor role to a team lead or a manager. MongoDB is designed from the ground up to be highly scalable. He is currently the CEO of MongoDB and a member of the board of directors at DataDog. 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. Is there stuff on their product roadmap that you can talk about? Is that for a company of the global scale of Mongo, is that still the core motion? . Were not trying to compete with Snowflake. BY Dev Ittycheria. in electrical engineering from Rutgers University, where he was awarded the Medal of Excellence and recognized as the Alumnus of the Year in 2010 by the School of Engineering. They dont want to use a new database for every new use case. Balanced lives continue to make great business sense. China has owned the graphite market for decades. Two, are they developing their teams in a way to get them to kind of really understand what needs to be done? Now Amazons trying to make some extensions with Aurora to kind of make relational databases suck less, but they fundamentally have scalability problems. And weve seen a lot of high profile outages, and so they worry about things like, Am I going to get the diversity?. 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 today were approaching 4,000 people and about $700 million in run rate. And for additional context, thats a current controversy around Elastic and some stuff like gotten themself tripped up into this whole conversation. 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. We need to make MongoDB a standard. 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. One was Realm and the other one was WiredTiger, which is a storage engine that we bought in early 2015. 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. Jonathan M. Peacock is chairman and CEO of Biotech company Bellerophon Therapeutics and is a board member of Kite Pharma. I have a CTO in Seattle, have a head of sales in Europe. So theyre motivated to drive those workloads to the cloud. 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. As the CEO of MongoDB, Inc., Mr. Ittycheria earned a total compensation package of $10,566,757.00 in 2022. RATINGS AND. 00:33. 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. Get notified the next time Dev Ittycheria buys or sells MongoDB stock. So your impact on the NYC tech ecosystem has just been insane. One, the relational database, where youre trying to basically disaggregate data into rows and columns is a very counterintuitive way to model data. 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 once youre clear on the strategy, then a lot of the focus is on people. A tech CEO spent almost $600,000 on a Super Bowl ad to warn America about Tesla's self-driving technology. How do you think about this? Dev Ittycheria is an American software executive, entrepreneur, venture capitalist, and the president and CEO of MongoDB, a popular next-generation database. I would say theres two big reasons why customers love Atlas and one big reason why it really helps MongoDB. Most ppl <35 have never led teams during a difficult economic environment. Now, Amazon and Azure in particular have competitive offerings, but we feel were very well positioned when it comes to going head to head against those. 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. Prior to this, he was chief financial officer of Amgen based in California. Were fortunate, the business then was roughly about 250 people trailing about $30 plus million in revenue. Learn More on Datadog's active insiders. Perfect timing for a "made in America" graphite company looking to mine, manufacture, and recycle graphite for the booming electric car market. And you see people from all walks of life. Mr. Ittycheria earned a salary of $400,000.00, stock awards of $10,135,257.00, and other compensation of $31,500.00. Thank you, Matt. But we think that thats part of open source. Its all over. Sure. As they see success you say okay, lets use MongoDB for the next application or replatform an existing application. Then a year later, we just got an offer to get bought out by BMC. They sold a total of 312,343 shares worth more than $86,077,186.26. You were trying to recruit from the big banks and so forth. In terms of development, I think you bring up a very important point. So we had a lot of customers who obviously are building mobile. So we think about how quickly we can grow our top line relative to our productivity and how fast we can hire. And three, are they executing consistently quarter in, quarter out and do they have an operating rhythm? But why dont we go directly to the CIO because everyone knows Mongo, right? And I obviously have to acknowledge my team. I think New York is turning out to be a pretty interesting place for tech. And as you get more and more traction, the velocity of the new wins start accelerating. He currently serves as the President & CEO of MongoDB. So going after the database market is one of the largest markets in enterprise software. 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. But obviously with COVID weve learned to collaborate. And now we have a very distributed team. 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. They say, is it free? Stephen M. Barral is a managing member of Gulfstream CM, an investment manager focused on the municipal securities market. In its last fiscal year,. He also serves on the new stadium development team, set to open in 2016. Dev Ittycheria is 53, he's been the President, Chief Executive Officer e Director of MongoDB Inc since . And what essentially Mongo DB did was address two fundamental problems with the relational database. And we want to get that first workload. So you need to make sure you invest in both, right? Do you want to talk about the product expansion thinking? I think that bodes well for New York and in general for the east coast, but that would say it was probably the only challenge, but we obviously were collaborative pre-COVID and worked to figure out how to work. 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. MongoDBs path from unlikely NYC enterprise tech startup to global category leader has been amazing to watch. By the way, I dont know if people realize this, but UiPath is pricing tonight and starting to trade tomorrow. Were talking about a company thats now 44 years old and they still havent solved the scalability problem. Developer speed is a proxy for innovation The supercloud is transforming the role of developers. The Committee for Economic Development of The Conference Board (CED)uses cookies to improve our website, enhance your experience, and deliver relevant messages and offers about our products. 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. But what people forget is that the first thing people dont say is open source or not, they say, does this technology solve my problem? Theyre super expensive because the relational database was designed to be a single node system. Are you going after Databricks? Dev currently serves as lead independent director of the board of directors of Datadog, Inc., a public software company. Your markets changing, your customers are changing. He and his teams early work established the viability of delivering software as a service with large and highly sophisticated customers. The most successful open source companies go after big markets, because by definition, you cant monetize all your usage. * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). In the last year, insiders at the sold shares 34 times. So essentially almost two a year, right? 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. The second big challenge is that relational databases are not designed for scale. And you see a lot of signs with the organization. Dev Ittycheria is president and CEO of MongoDB. Think about it like a leaderboard for a gaming application. And which is why it grew so quickly. And so its a constant kind of focus around those three things that allow us to make sure that were kind of running our business and scaling it well. We think that will make MongoDB an even more compelling platform to use. And obviously we also want to plant seeds, especially on the product side, for things that we think will bear fruit two, three years from now, because a lot of the investments were making now wont show up as products until later. And theyve actually helped subsidize and drive a lot of marketing, right? MongoDB has e-commerce company Snapdeal and mobile . And what are the things that I need to be able to do by that time frame? And were not trying to be a data warehouse. 5. Well, that feels like a great place to end. It also offers professional services including consulting and training. How do you arbitrage and then how has it evolved over time? 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. 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. You shouldnt just be open source for the sake of being open source. Enter your email address below to get our daily insider buying and selling report. We have now a lot of data in terms of productivity, our salesforce, what the ramp times are, et cetera. Switching to the discussion to Go to Market strategies, you use open source as a freemium kind of strategy. I need to be very clear on what our strategy is, at least the next couple of years. We partner with them on events. (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 all those tenets still apply. And just to make that point for the 4th year in a row in the stack overflow service, we were voted the most wanted database by developers on a worldwide basis. Itd be foolish to try and optimize for profitability. Join us for a morning of insights, inspiration, valueand breakfast. They sold a total of 897,213 shares worth more than $88,522,836.60. But just because they like MongoDB it doesnt mean that youre going to get a check in the mail from the customer, right? This article about a United States businessperson is a stub. Dev C Ittycheria (age 56) is listed at 4 Firethorn Ct Warren, Nj 07059 and is affiliated with the Democratic Party. 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