An Indian-origin entrepreneur, Jyoti Bansal, has made headlines after selling his startup, AppDynamics, for a staggering $3.7 billion in 2017. This deal not only made Bansal a wealthy businessman but also turned around 400 of his employees into millionaires. However, despite the success, Bansal described the day of the sale as the “saddest day of his life.”
A Moment of Triumph and Change
Bansal, who founded AppDynamics in 2008 and served as its chairman and largest shareholder, found himself at a crossroads when he received an acquisition offer from Cisco just days before the company was set to go public. In an interview with CNBC Make It, he recounted the excitement and joy that permeated the office as employees realized their shares had skyrocketed in value, with many gaining over $5 million each from the sale.
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The sale proved life-changing for many staff members. “People in the company were ecstatic; they had never imagined so much money. Many were buying new houses, new cars. I know one person who took six months off, rented an RV, and traveled around the country,” Bansal said, highlighting the newfound freedom many employees enjoyed after the sale.
A Lavish Celebration Turned Reflective
To celebrate this milestone, Bansal hosted a lavish party for both AppDynamics employees and Cisco staff, marking the end of an era. However, amidst the celebrations, he couldn’t shake off the feeling of loss. “I was sad and depressed. I spent nine years of my life fully dedicated to what we were building there. Suddenly, it’s the end of a chapter,” he admitted. Bansal expressed regret about selling the company, often pondering how much larger it could have grown had he held onto it.
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Moving Forward: New Ventures
Despite the bittersweet emotions tied to the sale of AppDynamics, Bansal didn’t let that hold him back. In the seven years following the acquisition, he co-founded two new software startups—Traceable and Harness, the latter now boasting a market value of $3.7 billion, the same amount for which he sold AppDynamics.
Bansal’s journey reflects both the potential for transformative success in the tech industry and the emotional complexities that accompany significant milestones. While he has achieved remarkable success, the memories and reflections on the sale of AppDynamics continue to shape his entrepreneurial spirit.