Founders who genuinely care for the financial (and mental) well-being of employees are G-d-send, unlike Soan-papdi distributing (multi) millionaires or the pseudo-philanthropists who get second-hand cars and bikes for their employees, for which the amount is gradually deducted from their salaries! Jyoti Bansal, the founder of AppDynamics, seems like the former purely on the merits of making his employees richer. Hopefully his venture does care for the work-life balance as well. The 46 year old IIT Delhi alumni has built multiple unicorns, with his first being acquired by Cisco. Founded in 2008, AppDynamics was bought by Cisco Systems for $3.7 billion. The deal made shares of approximately 400 employees soar to $1 million each, with shares of about a dozen employees reflecting a $5 million-plus outcome. While Bansal had some regrets about selling off the company, ultimately what mattered to the techpreneur was the employees. Achieving the valuation all by itself was a tough task within a short time frame; hence, the decision to sell off was validated with several employees putting the money to good use, buying homes and new cars, and one employee even taking six months off only to vacay around the country in a rented RV.
Any advice for founders? In his X/Twitter post, Jyoti Bansal emphasizes building “a great product” before anything else. And solving problems that the customers really have. He gives the example of McDonald’s’ Ray Kroc:
Meanwhile
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