Bansal: AppDynamics did not run a dual-track sale process before Cisco acquisition
Jyoti Bansal · 20VC: AppDynamic's Jyoti Bansal on The Sale vs IPO Process with AppDynamics' $3.7Bn Exit & The 3 Simple Things VCs Look For When Investing In Startups · Dec 8, 2017 · at 7:13
Jyoti Bansal is the founder and former CEO of AppDynamics. He addresses how the company's $3.7B acquisition by Cisco transpired right before AppDynamics was set to go public on NASDAQ.
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“Some companies have a parallel process. Like, you know, you're doing a process for an IPO and you're doing a process for a sale process. We are not doing that for us. It just happened that Cisco came in just a little bit before the IPO and they made an offer.”
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More from Jyoti Bansal
Bansal: AppDynamics rejected two Cisco acquisition offers before accepting the third
“We looked at the offer and actually we decided to say no to the first offer. They came back with a second offer, which we said no to, and then they came back with a third offer, which at that point, it was the right thing to do for all shareholders involved, f…”
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Bansal: AppDynamics told each department to operate as if others were failing
“At AppDynamics, you know, it was a bit controversial, but I, what I used to tell the teams was like, I would go to the product team. And I'll tell the product team that you've got to assume that our sales team is, is not going to, there will be times when they…”
Bansal: U.S. immigrant visa red tape delayed founding his first startup
“I had to wait to start a company, not just AppDynamics. I had some other ideas that I wanted to start a company on, but I was in the U S on a immigrant visa and it's really hard because of the red tape here for an immigrant entrepreneur to start a company.”