Cisco buys a company from Indian techie for 3.7 Billion $
Bengaluru – Jyoti Bansal is not connected to Sachin Bansal or Binny Bansal of Flipkart, but still he has made a big leap in terms of earning huge dollars. He has sold his startup for 3.7 billion dollars to Cisco. He is an alumni of IIT Delhi from 1999 batch. He started a company in 2008 (8 years ago) and CISCO was so much interested in that product that it accepted the deal at this high price.
The company was developed in US by the name of AppDynamics. It is an IT operations Analytics company based in San Francisco. It also manages application performance management. The main area of focus is to manage the performance of applications along with availability across cloud computing environments as well as inside the data centres. It redefine customer experience and accelerate your digital transformation with the industry's smartest approach to application performance management.
He still owns 14% stake in the company after being sold to CISCO. He will be getting around 4,300 crore rupees.
AppDynamics was about to launch its IPO (Initial public offering) and it had estimated its price to be around 1.9 billion dollars. So, we can say that whatever price CISCO gave it was almost the double its value.
As per information from Wikipedia - Jyoti Bansal worked as a lead software architect at Wily Technologies, which is a provider of application performance management technology. Regarding funding AppDynamics received five rounds of funds, which was equivalent to $206.5 Million. Forbes has ranked AppDynamics n 2016, at #9 on the Forbes Cloud 100 list.
On January 24, 2017 Cisco announced their intention to acquire AppDynamics for $3.7 billion