Topics
Latest
AI
Amazon
Image Credits:Greylock
Apps
Biotech & Health
Climate
Image Credits:Greylock
Cloud Computing
Commerce
Crypto
go-ahead
EVs
Fintech
Fundraising
Gadgets
Gaming
Government & Policy
ironware
layoff
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
Security
societal
Space
Startups
TikTok
conveyance
Venture
More from TechCrunch
effect
Startup Battlefield
StrictlyVC
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
Contact Us
When Asheem Chandna drove up to Rubrik ’s office in Palo Alto on a Friday Nox in early 2015 , he was looking forwards to learning what the young company that had yet to build its product would show him . The Greylock married person was n’t disappointed .
The company ’s chief executive officer , Bipul Sinha , draw Rubrik ’s programme to vamp the data management and recovery market on a whiteboard . “ The sure-enough versus new architecture he presented was very compelling , ” Chandna said . “ ground on my knowledge of the sphere , I acknowledge it could be build into a large business . ”
That was a prescient call . On Thursday , nine geezerhood after that meeting , Rubrik begin its life as a publically traded company with amarket cap of over $ 6 billion . Greylock holds a 13 % post , harmonize to the latest SEC filings . By the close of grocery store Friday , with contribution price at $ 38 , those closely 19.9 million shares were worth over $ 756 million .
But Chandna says it was much more than Rubrik ’s desire to take on the arcane data recovery market that incite him to direct Rubrik’s$40 million Series Bin May 2015 . ( The Series B round sell for $ 2.45 / portion , adjusting for splits , according to those SEC documents . While Greylock also participated in late turn at higher prices , Chandna ’s returns on this one are goodish . )
“ The longer I do what I do , the more I essentially consider that venture is a people stage business , ” said Chandna , who has been an investor for over 20 year and has an enviable running record of successful outlet . He has help brood Palo Alto Networks in Greylock ’s offices and was on the intimately $ 100 billion - worth companionship ’s board until last twelvemonth . Chandna was also an early investor inAppDynamics , Sumo Logicand Arista Networks .
Chandna looks for mass who are not only motivated and ambitious , but are also self - aware of their weaknesses , and can recruit masses who can get things done in areas that are not the founder ’s stiff suits .
Another all important component for a beginner is grit . “ If you had applied science that was adequate , but somewhat inferior to my applied science , but you were very self - aware and haunting , you will beat me , ” he said .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
That ’s what he saw in Sinha . Rubrik ’s laminitis had a lifelong dreaming of commence a company . When he ground the data management and retrieval startup in 2013 , he could n’t find hard engineers who wanted to fall work there , Chandna recall . The commercial enterprise he was trying to progress was inherently not sexy at the time .
Despite having been an investor with Lightspeed for four year before plunge Rubrik , recruiting gift turned out to be a handsome challenge for Sinha . But he did n’t give up . He pinged engineers on LinkedIn and then receive them for coffee blocks away from where they worked .
“ Startup journeys are very hard , even for the most successful companies , ” Chandna tell . “ I want citizenry who wo n’t take ‘ no ’ for an answer . ”
Perhaps it was Sinha ’s grit and ambition that oblige him to take his company public despite the lukewarm IPO environment .
“ Rubrik has just under $ 800 million in annualized recurring tax income , ” Chandna tell , “ That ’s big than most fellowship that last public in the last many years . I remember they just want to get on with it . ”
Chandna declined to say if he expects other Greylock portfolio companies to pursue Rubrik ’s lead but add emphatically that the business firm ’s best - perform recent - stage businesses are Abnormal Security , Cato Networks , Discord , Figma and Lyra Health .
We will be stick to their fate closely .
