Indian entrepreneur Sunny Gupta sold Apptio to his former employer, IBM. Apptio provides cloud-based business solutions via SaaS.
IBM purchased Apptio from Vista Equity Partners for $4.6 billion (Rs. 37.74 thousand crore) on June 26th. IBM stated that Apptio’s acquisition will expedite IT automation development.
Chandigarh-born 53-year-old Sunny Gupta, was raised in India and immigrated to the US in 1989. He said, “My father was India’s education secretary. My mom’s family was business-minded. Everyone told me that I could start from nothing and create something, so I felt like I needed to go to the U.S.. India has changed since then. My father said, “All I can give you is $2,000 and a plane ticket” since he couldn’t finance my schooling in the US.”
Sunny Gupta came to the US on a part-scholarship in 1989 to study at South Carolina. He worked hard to succeed in the US.
Gupta’s initial occupation was software development, but it didn’t fulfill his entrepreneurial spirit. I believed that my skill was greater than the rate at which my career was developing.”
At the age of 26, he founded his first business an enterprise application software company. All four of Gupta’s businesses didn’t pay him for the first six to nine months.
An interview published in 2019 states that Gupta’s first company was sold to Rational Software for $3-$4 million, which was later sold to IBM for a much higher amount. His second business, Performant, a software startup that helped Fortune 500 organizations find problems with website performance, was bought out by Mercury, a big enterprise software company. His third business, which focused on data center automation, brought about $2 million in revenue before being sold for $70 million in 2007.
In 2007, he launched his fourth business, Apptio, which offers cloud-based Technology Business Management (TBM) software. Prior to being acquired by Vista Equity in January 2019 for almost $2 billion, the firm raised $136 million and went public in 2016.
Conclusion:
Sunny Gupta, an Indian entrepreneur, has recently sold his firm, Apptio, to IBM, where he first started his career. Apptio provides SaaS cloud-based business solutions. IBM bought Apptio for $4.6 billion to speed IT automation development. In 1996, Indian-born Gupta founded an enterprise application software company. He has since launched four startups, each with varying success rates. Gupta’s motivation behind starting all four companies was to solve customer problems through software.
