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 . Youre running a tech company with offices around the world. Learn More about Dev Ittycheria's net worth. One is a current Pingry student, and the other is joining Pingry this fall. Before MongoDB, Dev was a Managing Director at OpenView Venture Partners and before that he was a Venture Partner at Greylock Partners. How do you arbitrage and then how has it evolved over time? Those who understand that ruthlessly prioritizing, making hard choices & learning to do more with less are essential leadership skills that will last a lifetime. So Realm had gotten a lot of traction, but they also needed to synchronize data from the edge to the core. We dont have to manage two systems, learn two platforms, etc. Class of 1978, in a prepared statement. 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. Can I use this free to distribute? Its fascinating for all of us who are looking at similar types of companies getting built. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. Correct. I still stayed on the Datadog board and Im actually on the board today. 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. And thats when you see the relationship with the customer grow fast. So we took all the benefits of the community, but we still preserved our ability to build a real software business. We wanted to leverage the virality of open source to get broad adoption. Learn More about Dev Ittycheria's net worth. Id love to chat about product and in particular Atlas, which has been an incredible success story. 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. So theres a lot of healthy partnership there. The company was incorporated in 2010 and is headquartered in New York, New York. BY Christiaan . You shouldnt just be open source for the sake of being open source. And so itd be foolish to have close to a billion dollars in the bank. So one is linking to product market fit. Previously, she was associate litigation counsel at WorldCom. And you see a lot of signs with the organization. Select Personal Finance. So you just have to make sure theres enough out there that you can monetize to build a healthy business. Peacock is a chartered accountant. And I need to remove any barriers, whether the cultural barriers, financial barriers, organizational barriers, to make sure people are set up for success. And so its not a secret, but since weve gone public three and a half years ago, weve had six C level changes, right? 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. And you see people from all walks of life. And be very, very clear on that. For more information on howCEDcollects and uses personal data, please visit ourprivacy policy. The most recent insider tranaction occured on February, 13th when CEO Olivier Pomel sold 85,637 shares worth more than $7,075,328.94. We coexist with Oracle, we coexist with Microsoft, we coexist with other players, right? But theres some spirit of coopertition and thats like weve been dealing with the big guys, Oracle from day one, Microsoft, and obviously now Amazon. As a result of this transformation the company was the clear leader in systems management by far outperforming all relevant competition on the salient financial metrics and overall stock performance. Very good. MongoDB was founded by developers for developers to provide a database designed for today's modern applications. ), TRANSCRIPT (edited for clarity and brevity). 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. We recognize the markets large enough and we feel like were well positioned. Learn More on Dev Ittycheria's contact information. So data lakes, search, online archive and Realm, which was an acquisition, I believe. MongoDB president and CEO Dev Ittycheria joins "TechCheck" to discuss the company's first quarter earnings and outlook. 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. I think New York is turning out to be a pretty interesting place for tech. 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. 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. Learn More about Dev Ittycheria's net worth. Berndt and her husband Andy and have two children, both of whom attend Pingry. 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 allowed us to really capture value, but still also give compelling value to our customers. We make some decisions about, Are we going to be profitable? We think it would be very unfair for someone to just pick a free version, make money off it and not give anything back. 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. It just gets a little bit monotonous where I think the cultural diversity of New York is something that I really appreciate. And that was important to us. Is that for a company of the global scale of Mongo, is that still the core motion? That kind of drives our top line forecast. Yeah, weve made three acquisitions and two of them were non-revenue acquisitions, they were more technology acquisitions. Amy B. Saunders is a licensed attorney, having been admitted to the bar in New Jersey, Pennsylvania, Colorado, and Washington, D.C. Dev Ittycheria Biography. And so, one day you might find AWS competing with you and your core business. He currently serves as the President & CEO of MongoDB. 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). Dev Ittycheria is 53, he's been the President, Chief Executive Officer e Director of MongoDB Inc since . 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. Thank you for having me. Then a year later, we just got an offer to get bought out by BMC. As a CEO, how do you arbitrage between the different needs? What I mean by that is you constantly have to work at your trade craft. Atlas, which is your database as a service offering, was launched in late 2016. The estimated net worth of Dev Ittycheria is at least $39.95 million as of January 3rd, 2023. Ittycheria currently serves on the board of directors for public software company, Datadog, and blank-check company, Altimeter Growth Corporation. Dev C. Ittycheria, a software executive and venture capitalist, is president and CEO of database company MongoDB. 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. 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. Great. And theyve actually helped subsidize and drive a lot of marketing, right? MongoDB has e-commerce company Snapdeal and mobile . So every app has some search functionality, so embedding that more tightly into the app is helpful for the application developers, less systems to maintain. Youve done some fascinating things as an entrepreneur, as a CEO, also as a VC, although more briefly if you could give us a couple of minutes on your story, thatd be awesome. [Dev Ittycheria] Correct. If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. They say, is it free? MongoDB serves customers worldwide by providing an open-source database platform for automating, monitoring, and deployment backups. Following the acquisition, he served as President of BMC. 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. Detailed information on the use of cookies on this site is provided in ourcookie policy. And people really wanted to maintain their cash comp, but then also have big equity. 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. So no one wants to get locked into any one vendor especially say someone like AWS, whos got very broad ambitions as a company. Are you going after Databricks? The second thing that we announced was Real. So after IPO, maybe talk to teams and hiring and what do you want to do before IPO versus IPO? Learn More about Dev Ittycheria's net worth. Share Background Report Overview of Dev C Ittycheria Lives in: Warren, New Jersey Phone: View phone number Age: 56 Dev Ittycheria's Voter Registration Companies getting built tech company with offices around the world the markets large enough and we feel were! You shouldnt just be open source to get bought out by BMC and )... 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