Berndt is also a volunteer and board member with several other educational organizations. My philosophy in life has always been, always be the student of the game, not the master of the game. Weve now embedded that it just makes life so much easier for customers. And so itd be foolish to have close to a billion dollars in the bank. Learn More about Dev Ittycheria's net worth. He is currently the CEO of MongoDB and a member of the board of directors at DataDog. Tue, Jun 15 2021 5:33 PM EDT. Prior to MongoDB, Ittycheria was the Co-founder & CEO of BladeLogic and the President of BMC Software. Following the acquisition, he served as President of BMC. You'll learn You have a multi-cloud offering now, right? Enter your email address below to get our daily insider buying and selling report. We partner with them on events. And then obviously capital was super expensive. @CEDUpdate Enter your email address below to get our daily insider buying and selling report. Well, if youre a customer in Australia or youre a customer in Canada, Amazon, or say Azure may only have one region. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. Whos moving up? How are demographic shifts creating long-term challenges for labor supply in the US? Biography of Dev Ittycheria. And in a high growth business, not everyone scales at the same rate, right? Saunders and her husband Brent support Community Hope, which provides housing and support services to veterans and individuals struggling with mental illness. A lot of people sometimes confuse us, are you competing with Snowflake? He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. Today with our new announcement, you can run app A across multiple cloud providers. So your impact on the NYC tech ecosystem has just been insane. Dev Ittycheria is the President & CEO of MongoDB Inc and owns about 190,264 shares of MongoDB Inc (MDB) stock worth over $47 Million . 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. 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. Prior to this position, he was managing director at OpenView Partners. Save my name, email, and website in this browser for the next time I comment. So we have to work with the cloud provider. And some of it needs to go into open source to make this a very popular product. We coexist with Oracle, we coexist with Microsoft, we coexist with other players, right? Were enabling people to use the power of our query language to create data not just from MongoDB, but from other sources. The community really appreciates it as well. 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. And if you just keep trying to run the same playbook, youre going to hit a wall. in Electrical Engineering, was honored with the Medal of Excellence and was recognized by the School of Engineering as its 2010 Alumnus of the Year. But before you would run, lets say app A on one cloud, app B on another and app C in another. And you see a lot of signs with the organization. Leading developers and publishing technical content for over a decade. We dont have to manage two systems, learn two platforms, etc. In his past career Mr. Ittycheria was President & Chief Executive . So the cheapest paid tier is like 9 bucks a month. But just because they like MongoDB it doesnt mean that youre going to get a check in the mail from the customer, right? Thank you for having me. So thats the ideal state. There are 4 older and 12 younger executives at MongoDB Inc. 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. And theyve actually helped subsidize and drive a lot of marketing, right? Pretty crazy time to start a company by the way, 2001. How do you arbitrage and then how has it evolved over time? Why do you think its continued to be so incredibly popular and in fact accelerating? But look at Oracle. He currently serves as the President & CEO of MongoDB. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. Peacock is a chartered accountant. Were not trying to compete with Snowflake. 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. You know, theyve had Oracle RAC, sidecar and other ways to try and replicate. Well, we essentially solve that problem by coming out with our document architecture, which is much more conducive to the way developers think and the way developers code. 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? The corporate mailing address for Mr. Ittycheria and other Datadog executives is 620 EIGHTH AVENUE 45TH FLOOR, NEW YORK NY, 10018. And so what the cloud providers are doing is taking these free versions of open source, plugging into the platform and monetizing it. Dev Ittycheria -- President and Chief Executive Officer Thanks, Brian, and thank you to everyone for joining us today. Dev Ittycheria is the Director of Datadog Inc and owns about 441,347 shares of Datadog Inc (DDOG) stock worth over $38 Million . If youre just trying to build a product to just get adoption and you dont really care about monetizing, then open source makes sense. 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. Barral and his wife Angela are the parents of a Pingry alumnus and two current Pingry students. Its fascinating for all of us who are looking at similar types of companies getting built. Monetization is not the only one. 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. So we have to make sure we drive a lot of developer enthusiasm by using MongoDB. 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 . 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? Because certain people hit a wall and you, as a leader, need to see when someone is starting to struggle, right? So 2014 turned out to be a pretty interesting year for me. And actually I led the B round at Datadog. It was this whole complexity of open source in cloud vendors and for anyone thats listening to this, for whom this discussion is not completely clear, the concern all along has been that cloud vendors can just take the open source code and run a competitive version of the product without cooperation from the original vendor. Learn More about insider trades at MongoDB. Ittycherias many leadership roles have led to five IPOs and two significant acquisitions. What I mean by that is you constantly have to work at your trade craft. As a high growth company, we think a lot about how quickly we can grow. And we find the relationship kind of tends to be in three stages. 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. And third, its not trivial to be both building software and running software. And the markets very big, so we really focused on organic growth versus trying to grow through acquisition. So youre always trying to find that fine balance in terms of what the paywall is. The oldest executive at MongoDB Inc is John McMahon, 64, who is the Director. Like, oh my God, the adoption that people would say, youre not open source anymore. Learn More about Dev Ittycheria's net worth. 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. 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. Introducing the *Emerging* MAD (Machine Learning, AI, Data) Index, In Conversation with Victor Riparbelli (CEO) and Matthias Niessner (Co-Founder), Synthesia, Red Hot: The 2021 Machine Learning, AI and Data (MAD) Landscape, Is Big Data Still a Thing? Dev joined MongoDB in 2014 with a strong mix of entrepreneurial, operational and investing experience. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. Amy B. Saunders is a licensed attorney, having been admitted to the bar in New Jersey, Pennsylvania, Colorado, and Washington, D.C. This was fascinating. So being able to embed analytics is going to be even more important. Chart Data in Insider Trading History Table. He currently serves as the President & CEO of MongoDB. Dev C Ittycheria (age 56) is listed at 4 Firethorn Ct Warren, Nj 07059 and is affiliated with the Democratic Party. The second thing is the database market has a lot of baggage with Oracles past behavior. SAS remains strongly committed to providing the whole employee experience - meaningful work I need to be very clear on what our strategy is, at least the next couple of years. Theres a lot of fierce battles about what to do and what not to do. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack. And what we also saw was that last year we had more downloads of our software than the first 10 years of the companys history. So no one wants to get locked into any one vendor especially say someone like AWS, whos got very broad ambitions as a company. Can I use this free to distribute? Is that sort of bottoms up or is there also top down of AEs going directly to CIOs? (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. 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 sometimes whos moving backwards. He currently serves as the President & CEO of MongoDB. And thats a pretty difficult challenge for developers. Lose a little money, make a little money. Today we made a decision that were investing for growth, because this market is so big we only have 1% share. And then maybe theres some corner cases where they use something esoteric. Were talking about a company thats now 44 years old and they still havent solved the scalability problem. Credit: Dev Ittycheria, MongoDB . One of the other things customers care a lot about is getting rid of undifferentiated heavy lifting. And so its not a secret, but since weve gone public three and a half years ago, weve had six C level changes, right? We are very fortunate to be welcoming a terrific new class of trustees. 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. I still stayed on the Datadog board and Im actually on the board today. Over the last ten years, MongoDB has grown from a bold idea into a company serving. And people really wanted to maintain their cash comp, but then also have big equity. And we knew that we solved a very important problem. Theyve done a fantastic job. 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. 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 C. Ittycheria Lead Independent Director, Datadog, Inc. Dev C. Ittycheria founded BladeLogic, Inc. and Applica Corp. And our focus is really helping developers use data to build amazing applications. 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. Free versions of open source to make this a very important problem youre always to. Cloud provider company, we think a lot of fierce battles about what to do sure we drive lot... 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