What I mean by that is you constantly have to work at your trade craft. . And sometimes whos moving backwards. The company is growing at a 40% rate and doing remarkably well, Jim Cramer said. Currently, he is the President & CEO of MongoDB, where he led its IPO in 2017the first public offering of a database company in over 26 years. 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. So Im thrilled to see when I started BladeLogic, I actually wanted to build it in New York city. China has owned the graphite market for decades. Prior to this position, he was managing director at OpenView Partners. And Elastic themselves are growing more towards the security space than application search. And if you give away too much of your product, its very hard to monetize. I mean, Oracle was founded in 1977. 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. And then you keep adding more stuff to it, like more features, more product expansion. One is a current Pingry student, and the other is joining Pingry this fall. Is this a fatal flaw? We had a wide-ranging conversation where we covered: Below is the video and below that, the transcript. The shares were sold at an average price of $170.19, for a transaction totalling $6,382,125.00. And third, its not trivial to be both building software and running software. What does Atlas do, so folks can wrap their minds around it. So, global domination. Learn More about Dev Ittycheria's net worth. Dev Ittycheria. So being able to do that was very challenging, because with mobile, you have online and offline connectivity and you need to be able to still use the app, but then synchronize when you get back online and conversely, you need to get updates from the backend server. Select Personal Finance. I need to make sure I have the right people in the organization, especially at the executive team to go execute on that strategy. The shares were sold at an average price of $199.96, for a transaction totalling $7,874,824.72. And then obviously capital was super expensive. 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 you just have to make sure theres enough out there that you can monetize to build a healthy business. The most recent insider tranaction occured on January, 3rd when CFO Michael Lawrence Gordon sold 2,060 shares worth more than $410,578.60. Now, why is that important? Ittycheria led the companys 2017 IPO, the first of a database company in more than 26 years. Learn More about insider trades at MongoDB. Talk to anyone who wants to do a schema change and theyll roll their eyes because they know how painful that is. 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. Find where they have the most pain, typically the more the pain, the more the dollars are available, then the more attention to senior management. Not only do they get revenue from the underlying consumption of storage and compute and network services, but they also see customers for every dollar they spend on Atlas, they probably spend another 5 to $10 and other ancillary services. This net worth estimate does not reflect any other investments that Mr. Ittycheria may own. Your markets changing, your customers are changing. Obviously both MongoDB and Datadog are global companies, but given this event is Data Driven *NYC*, its worth pausing and realizing that those are basically the two major successes of enterprise tech in New York at least over the last few years. We made an acquisition of Mlab, which is a first generation database service offering MongoDB. AWS launched DocumentDB today, a new database offering that is compatible with the MongoDB API. 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. The shares closed at $32.07 after the first day of trading, over 30% higher than the IPO price. And three, are they executing consistently quarter in, quarter out and do they have an operating rhythm? We have replication sharding built into our architecture. He is a member of the Board of Trustees of the Essex Hunt Club and has previously served as a member of the Board of Trustees of the Far Hills Country Day School and the Board of Governors of the Somerset Hills Country Club. Following this acquisition, Dev served as President of BMC, overseeing a business with $1.4 billion in annual revenue. You'll learn So I think thats one. They say, is it free? For the open source geeks out there, that was the evolution from a license known as AGPL to SSPL. How do they kind of measure the success of the business? And then what are the right type of folks that you want as a growth stage startup versus as a public company? Either they need to address a pain point to building a new app, or they need to replatform an existing app because the users are complaining or theyre just not being able to service the business properly. in . I thank them for their commitment to Pingry and their leadership in helping drive forward the Schools key initiatives, said Board of Trustees Chair Jeffrey N. Edwards. I need to be very clear on what our strategy is, at least the next couple of years. Dev Ittycheria is an American software executive, entrepreneur, venture capitalist, and the president and CEO of MongoDB, a popular next-generation database. And so, one day you might find AWS competing with you and your core business. The company describes DocumentDB as a "fast, scalable, and highly available document database that . How do you think about this? For Search, what we found was a lot of customers were dual homing data to both MongoDB and say Elastic. One, the relational database, where youre trying to basically disaggregate data into rows and columns is a very counterintuitive way to model data. 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. I will start by reviewing our first-quarter results before giving you a. Get notified the next time Dev Ittycheria buys or sells Datadog stock. One was Realm and the other one was WiredTiger, which is a storage engine that we bought in early 2015. Learn More about Dev Ittycheria's net worth. So it speaks well to New York. Most recently, Dev Ittycheria sold 39,382 shares of the business's stock in a transaction on Tuesday, January 3rd. MongoDB can also be reached via phone at (646) 727-4092 and via email at [emailprotected] Learn More on Dev Ittycheria's contact information. Its only maybe a couple hours longer. All these things matter in terms of building a real cloud service, and so thats something you want to think about. 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 . Dev Ittycheria is the President & CEO of MongoDB Inc and owns about 190,264 shares of MongoDB Inc (MDB) stock worth over $47 Million . If developers dont use our product, we dont have a business. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. In addition to being a truly world-class CEO, Dev has had an outsized impact on the New York tech scene, as hes been playing a central role both at MongoDB and also at Datadog, where hes been a long time board member (after leading the companys Series B back in 2014). Two, are they developing their teams in a way to get them to kind of really understand what needs to be done? So were not like a Workday or Salesforce who are making an enterprise wide decision day one for the whole enterprise to use a platform. In the last year, insiders at the sold shares 34 times. Elliot S. Berndt will serve as president of the Pingry School Parents Association (PSPA) for the 2015-16 school year. I also felt like I could add some value to MongoDB. The second thing that we announced was Real. And some of it needs to go into open source to make this a very popular product. Id like to talk about lessons in scaling. Can I use this free to distribute? 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? 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? I think New York is turning out to be a pretty interesting place for tech. Dev Ittycheria has over two decades of experience as an entrepreneur, investor, and leader specializing in high-growth software companies. So its tricky, but this is part of leadership, right? He also serves on the new stadium development team, set to open in 2016. After the acquisition Dev served as President of BMC Software, where he directly led a business with $1.4B in annual revenue and more than 4,000 employees. The estimated net worth of Dev Ittycheria is at least $14.31 million as of January 3rd, 2023. And our focus is really helping developers use data to build amazing applications. Now Amazons trying to make some extensions with Aurora to kind of make relational databases suck less, but they fundamentally have scalability problems. Once again, Snowflake is bringing our Data for Breakfast event to London. 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. So Realm had gotten a lot of traction, but they also needed to synchronize data from the edge to the core. Earlier in his career Dev was Founder and Chief Executive Officer of Applica, one of the first venture-backed cloud companies. Stephen M. Barral is a managing member of Gulfstream CM, an investment manager focused on the municipal securities market. Think about a financial app. Ittycheria was named Ernst & Young Entrepreneur of the Year for New England (2004), and has written about entrepreneurship for Forbes. Ittycheria and his wife, Dr. Anju Thomas, have two children. RATINGS AND. In fact, my predecessor at MongoDB was actually based out of California. Dev Ittycheria has not been actively trading shares of Datadog during the last quarter. Chart Data in Insider Trading History Table. And so, what you as leader have to do, is this a fixable development issue? One of the other things customers care a lot about is getting rid of undifferentiated heavy lifting. Managing a distributed database can be quite challenging. And then maybe over time, maybe even years, then all of a sudden say, You know what? Thank you for having me. It doesnt make a lot of sense when I look at it from a strategic point of view. It really comes from a lot of customer feedback and our intuition about the market. Join us for a morning of insights, inspiration, valueand breakfast. Information on this page was last updated on 1/3/2023. So once youre clear on the strategy, then a lot of the focus is on people. Remarkable. He and his wife, Dr. Anju Thomas have one child who finished high school from Pingry and another who is at the school. Its more to help developers because we believe that applications of the future and even today are more and more instrumenting the business, applications are now embedding analytics, especially real-time analytics into apps. How do they kind of quickly triangulate on issues and resolve them quickly? Great. He currently serves as the President & CEO of MongoDB. I didnt want to be stuck behind a computer all day. So well have a 3rd big, and their valuation I think will be quite large. But look at Oracle. 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. I still stayed on the Datadog board and Im actually on the board today. Your email address will not be published. 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. And then one last question from Julia, how does MongoDB manage to not compete with their open source community? Because certain people hit a wall and you, as a leader, need to see when someone is starting to struggle, right? Right? But at the time it was very hard to recruit people. And so what the cloud providers are doing is taking these free versions of open source, plugging into the platform and monetizing it. And then maybe theres some corner cases where they use something esoteric. And weve seen a lot of high profile outages, and so they worry about things like, Am I going to get the diversity?. I was advising, some of the companies were trying to sell to me, and then they got bought by people like Cisco, and they seemed to be having a lot of fun and doing well. 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. Dev Ittycheria Biography. Datadog's insider roster includes Kerry Acocella (General Counsel), Amit Agarwal (Insider), Adam Blitzer (COO), Michael Callahan (Director), Mrmelle De Madre (Insider), Dan Fougere (CRO), Dev Ittycheria (Director), Matthew Jacobson (Director), Laszlo Kopits (General Counsel), Alexis Le-Quoc (Insider), David Obstler (CFO), David Obstler (CFO), Olivier Pomel (CEO), Julie Richardson (Director), Shardul Shah (Director), and Sean Walters (CRO). 199.96, for a transaction on Tuesday, January 3rd right type of folks that you want to be?. $ 170.19, for a transaction totalling $ 6,382,125.00 Founder and Chief Executive Officer of Applica one. 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