MongoDB lost a quarter of its value the day its boss joined Meta.
MongoDB said on Monday that chief executive CJ Desai had resigned, effective immediately, to join Meta. He becomes Meta's chief enterprise platform officer, reporting straight to the founder, and MongoDB shares fell 25%. The new unit will sell businesses Meta's errand-running Muse agent and its coding tools.
Why it mattersMeta has sold ads to businesses, never software, and it just bought that skill. The assistant on your phone is being aimed at the company you work for.
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