BENGALURU: There’s something about the name Bansal. After Sachin Bansal and Binny Bansal of Flipkart, Mukesh Bansal of Myntra, Rohit Bansal of Snapdeal and Peyush Bansal of LensKart, yet another Bansal has made a killing with a startup. Jyoti Bansal,, an IIT Delhi graduate, has just sold the company he founded eight years ago in the US, AppDynamics, to Cisco for $3.7 billion. Bansal now owns 14% of the company, after having diluted his stake to many venture funds over the years. So he’ll get about $520 million (Rs 3,400 crore).
The announcement came a day before AppDynamics was to launch its IPO, which valued the company at $2 billion. AppDynamics’ last round of funding had valued it at $1.9 billion. So the price that Cisco agreed to pay is almost twice of that.
Bansal graduated from IIT Delhi in 1999 and moved to the US soon after. In an article in the run-up to the IPO, Forbes magazine wrote that Bansal’s father had given him $200 so he could go to Silicon Valley.
