IIT Delhi Grad's H1-B Journey: From Engineer to $2.3 Billion Fortune
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Jyoti Bansal, an IIT Delhi graduate, moved to the US on an H1-B visa in 2001. After 7 years, he launched his own company and now boasts a $2.3B net worth.
Jyoti Bansal, an IIT Delhi engineering graduate, arrived in the United States in 2001 with entrepreneurial dreams. That said, the reality is a bit more complicated. his H1-B visa required him to work for other companies before starting his own.
According to Forbes, the path to becoming a billionaire wasn't easy. Bansal recounted that he landed in California at 21 with minimal savings but a strong entrepreneurial drive. Securing a green card and launching a business necessitated prior employment.
Bansal spent seven years working as an engineer for three different small enterprise tech companies, which sponsored his H1-B visa. This experience paved the way for his future endeavors.
**From Green Card to AppDynamics**
Seven years later, Bansal obtained his green card, enabling him to pursue his entrepreneurial ambitions. In 2008, he founded AppDynamics, a platform designed to troubleshoot complex websites such as Netflix. The platform helped engineers minimize downtime related to technical issues.
Bansal scaled AppDynamics over a decade, navigating six fundraising rounds after initial setbacks. When the company's revenue exceeded $200 million, he considered an IPO. That said, the reality is a bit more complicated. Cisco acquired AppDynamics for $3.7 billion, significantly increasing Bansal's wealth, Forbes reported.
Bansal told Forbes that building a successful company requires significant time and dedication, suggesting a minimum of ten years.
**A Second Act: Harness and Billionaire Status**
Following the sale of AppDynamics, Bansal initially considered retirement.
"I tried to retire," he admitted.
He realized that he preferred building companies to leisure activities like golf or relaxing on the beach. After a six-month trip across various countries, Bansal, originally from Rajasthan, decided to pursue his passion by creating new ventures.
This led to the creation of Harness, an AI-powered software delivery platform. A recent funding round generated $240 million.
The funding round, led by Goldman Sachs Alternatives, Institutional Venture Partners, and Menlo Ventures, valued Harness at $5.5 billion, making Bansal a billionaire.
Forbes estimates Jyoti Bansal's current net worth at $2.3 billion, primarily due to his estimated 30% stake in Harness and the proceeds from the AppDynamics sale.
