IIT-Delhi Alumnus Jyoti Bansal Signs $3.7 Billion Deal with Cisco
US-based entrepreneur Jyoti Bansal sold his AppDynamics- application intelligence venture, to Cisco Systems for a $3.7 billion ( INR 25,150 crore approx) deal.
When US-based entrepreneur Jyoti Bansal agreed to sell his AppDynamics- application intelligence venture, to Cisco Systems for a $3.7 billion ( INR 25,150 crore approx) deal, he occupied the headlines of the media for the day. The announcement was made a day prior to AppDynamics was to launch its initial public offer or IPO that valued the company at $2 billion.
Also Read: IIT Guwahati To Start Industry-Academia Research Partnership
About Jyoti Bansal:
- Jyoti Bansal did his BS degree in Computer Science from IIT Delhi in 1999
- He went to the USA in July 2000 and got an H-1B visa and further started working for startup companies
- By the time he was also planning to launch his own company
- In 2005 he joined Wily Technology as an architect which was bought by Computer Associates in 2006.
- In 2017 he received an employment authorization document (EAD) for green card process.
- Later on, he left CA to start AppDynamics in the year 2008
- As per CNBC AppDynamics employs over 1,200 people
- Within nine months AppDynamics had $158.4 million in revenue which is an increase of more than 50% from the same period a year earlier.
Also Read:IIT Madras to Educate Underprivileged Children
He stepped down as the CEO in September 2015 and handed over operations to David Wadhwani and became the chairman of the board. Talking about his passion in an interview, he said that he wants to create more companies and solve problems.
Jyoti has received more than about 30 patents relating to complex software systems.Lightspeed Venture Partners and Greylock Partners each hold 21% of AppDynamics. Kleiner Perkins Caufield & Byers held 7.1%. and Institutional Venture Partners had in its name 8.3% of the shares.