46-YO founder turns 400 of his employees into millionaires by selling his startup for $3.7B
For many, Jyoti Bansal was living his life as he got an offer to sell his software startup AppDynamics for a whopping $3.7 billion. And the offer came from none other than the tech giant Cisco.
When Cisco plummeted in with a last-minute acquisition offer in 2017, the startup founder found himself at a crossroads. The deal would bring him good money still it became his "saddest day."
What is AppDynamics?
Founded in 2008, AppDynamics is an application intelligence company that provides enterprises with real-time insights into application performance. Bansal led the company as founder and CEO for the first eight years, and as founder & Chairman for the last year until its acquisition by Cisco.
Who is Jyoti Bansal?
Currently based in San Francisco, Jyoti Bansal is a multi-unicorn founder, serial technology entrepreneur, and a passionate mentor and investor in the tech sector. Currently, he is the founder and CEO of two high-growth technology companies - Harness, a platform to automate software delivery processes valued at $3.7 billion as of 2022, and Traceable AI, a cybersecurity platform for securing software applications.
He received several leadership awards including Forbesâ âBest Cloud Computing CEO to Work Forâ, âBest CEOâ by the San Francisco Business Times, and Ernst & Young Entrepreneur Of The Year for Northern California.
When Jyoti Bansal made âthe hardest decisionâ of his career to sell his first software startup, he did it keeping his employees in mind.
Approximately 400 AppDynamics employees saw their shares of the company rise to at least $1 million, a spokesperson for Bansal informed CNBC. âWe had dozens of employees with $5 million-plus outcomes. These are life-changing outcomes,â he revealed.
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