Jyoti Bansal's journey to founding and selling AppDynamics
To-Do List: Build a company that would leverage the power of software to make a difference in the world.
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At 21 years old, Jyoti Bansal moved to Silicon Valley and began his career as a software engineer. From an early age, Jyoti knew two things: 1) he wanted to be an entrepreneur and 2) the whole world was going to run on software.
Unable to shake those convictions, Jyoti decided to quit his day job and give his days, nights and weekends to building the startup that would become AppDynamics. He knew he couldn't fund the startup on his own, so he spent months walking up and down SandHill Road in Silicon Valley looking for funding. Each rejection refined his story/product pitch, and in April 2008, he secured $5.5M of Series A funding.
In order to build his business, Jyoti established four key pillars: product, sales, culture, and customer success, which are still in effect today.
Create an application intelligence platform versus a single product that can scale to meet the needs of large enterprises.
Leverage AppDynamics' competitive advantage and learn the art of the enterprise software sale.
Hire the best people who embody these talent imperatives: Intelligence, Coachability, Character and Experience.
Customer Success 2.0
Deliver on what was promised in the sales process and champion on-going client success.
As of February 2017, AppDynamics was acquired by Cisco for $3.7 billion. Cisco was looking to add a software company to their portfolio because "applications have become the lifeblood of a company's success" (Rowan Trollope). AppDynamics not only fit the bill, they did it better. While most APM companies had reached maturity, AppDynamics was still in hyper-growth mode, capturing major enterprise accounts and evolving their platform to meet the ever-changing IT needs of global enterprises.
In writing this article, we truly fell in love with Jyoti's story. If you are interested in learning more about the company he has created, click here.
Stay tuned for next week's sponsor overview! If you have any questions or comments (or want to work at AppDynamics), reach out to the Will Reed team.