MongoDB, the billion-dollar NoSQL database startup, yesterday announced the appointment of Dev Ittycheria as the new President and CEO, starting September 3. Ittycheria will replace Max Schireson, who has been CEO for 18 months and will now act as vice chairman.
Following a short stint at Greylock Partners, Ittycheria was the Managing Director of Openview Venture Partners, a middle-stage venture capital firm focused on software. However, Ittycheria is probably most well known for co-founding BladeLogic, one of the fastest growing enterprise software companies of the last decade. He took the company public in 2007, and then sold it to BMC Software in 2008 for approximately $900 million. After the acquisition, Dev became President of the Enterprise Service Management business at BMC Software, a business with $1.4 billion in annual revenue and over 4,000 employees.
“I’m thrilled by the opportunity to help create the next great database company,” said Dev Ittycheria. “MongoDB helps companies create entirely new types of business applications, while dramatically accelerating time to market and lowering overall costs. I look forward to scaling what we can do.”
In October last year, MongoDB raised $150m from investors, with heavyweights like Intel, Red Hat, and Salesforce.com participating – The deal valued the NoSQL startup at $1.5 billion. Talking about the achievements of current CEO Schireson, Dwight Merriman, Chairman and Co-Founder of MongoDB said,
“Max has built a world-class team that has shipped great software, raised a record amount of money from smart investors, attracted hundreds of great partners and generated millions in revenue from the world’s leading companies.”
Reports have suggested the company will debut on public markets this year, following such a large investment round, although no official statement about this possibility have been made.
Read more here
(Image Credit: Garrett Heath)