MongoDB's shares fell over 18% after CEO Chirantan "CJ" Desai left to become chief enterprise platform officer at Meta, leading its new AI business for corporate clients. Dev Ittycheria was named interim CEO as MongoDB searches for a permanent replacement. Desai's new role at Meta involves turning AI tools into products for businesses, supporting Meta's launch of the Meta Enterprise Platform. MongoDB provides database software with AI and analytics tools, making this leadership change significant for its future direction.
MongoDB shares plunged 18.12% to USD 336.06 as of Sep 28, 2026 23:31 WIB on Pluang, nearing their 52-week low of USD 225.95, while Meta's stock fell a smaller 3.52% to USD 725.20, closer to its 52-week high of USD 777.59. Despite the sharp drop in MongoDB's price, Meta's market cap remains vastly larger at $1.91 trillion compared to MongoDB's $33.06 billion. Typical hold times also differ significantly, with MongoDB investors holding for 47 days on average versus 127 days for Meta investors.
Meta Platforms Inc has introduced the Meta Enterprise Platform, designed to provide businesses with AI-powered tools like the Muse agent, Meta Business Agent, Muse API, and Muse Code. This initiative aims to leverage Meta's advanced AI models and inf...
Meta announced the launch of its enterprise platform and the hiring of MongoDB's CEO as chief enterprise platform officer, causing a sharp market reaction. Salesforce, ServiceNow, and Snowflake shares each fell about 4%, while MongoDB dropped over 20...
Meta Platforms announced a new enterprise software platform and hired MongoDB's CEO, CJ Desai, as its chief enterprise platform officer. This news caused Meta and ServiceNow shares to fall 4%, while MongoDB's stock plunged 19% due to the CEO departur...
MongoDB announced that Chirantan "CJ" Desai has stepped down as President and CEO to join Meta Platforms. Dev Ittycheria, who led MongoDB from 2014 to 2025 and grew its revenue significantly, has been appointed interim CEO to ensure a smooth transiti...
