“AppDynamics Founder Jyoti Bansal Turns 400 Employees into Millionaires but Regrets Selling Company”
Jyoti Bansal, the Indian-origin entrepreneur and founder of AppDynamics, reflects on his decision to sell the company for $3.7 billion in 2017, a move that transformed 400 of his employees into millionaires but left him with feelings of regret.
Jyoti Bansal, the Indian-origin entrepreneur and founder of AppDynamics, reflects on his decision to sell the company for $3.7 billion in 2017, a move that transformed 400 of his employees into millionaires but left him with feelings of regret.
Bansal’s decision to sell came just days before AppDynamics was set to go public, marking a significant turning point in his career. While he stood to gain substantial wealth from the sale, he prioritized the impact of his decision on the employees who had played a crucial role in the company’s success.
In an interview with CNBC Make It, Bansal shared that the sale led to a surge in share values for many of his employees, with approximately 400 individuals seeing their shares reach $1 million or more. Some employees experienced windfalls exceeding $5 million, allowing them to fulfill long-held dreams, such as purchasing new homes and cars. One employee even took six months off to travel the country in an RV, reveling in newfound freedom.
To celebrate the success of his team, Bansal organized a lavish party for both AppDynamics employees and representatives from Cisco. However, the celebration was overshadowed by Bansal’s sense of loss. He described the day of the sale as one of the “saddest” moments of his life.
Reflecting on his feelings, Bansal expressed that he felt “sad and depressed,” having dedicated nine years to building the company. The transition marked the end of an era for him, leading to a bittersweet sentiment surrounding the sale. “It’s a great outcome in a lot of ways, but it’s the end of a chapter, or end of a book, in many ways too,” he remarked.
Despite his reservations about the sale, Bansal did not allow this setback to define his career. Since the acquisition, he has co-founded two more software startups: Traceable and Today. His current company, Harness, has reached a market value of $3.7 billion, the same amount for which he sold AppDynamics.
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