Meta Hires MongoDB's CEO
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A surprise CEO departure sent MongoDB tumbling 25% in a month while its database rivals barely flinched, and now one major Wall Street bank sees a setup that could reward patient investors.
Dev Ittycheria, MongoDB Interim President and CEO, joins 'Squawk on the Street' to discuss former CEO CJ Desai stepping down to join Meta Platforms as its chief enterprise platform officer, Investor Day,
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Why MongoDB Sank Today
In a rather shocking move, MongoDB's CEO left the company to head Meta's new enterprise platform.
Analysts raised concerns about MongoDB’s outlook, while retail investors are extremely bullish ahead of Investor Day.
Meta shares slump after news of MongoDB CEO CJ Desai leaves the company to join Meta as chief enterprise platform officer.
MongoDB, Inc. delivered multiyear-high revenue growth of 30% YoY in Q2, with robust demand and margin expansion. Read more on MDB stock here.
A new memory and governance layer along with an updated database engine further MongoDB's progress toward becoming a platform provider for data and AI.