Sanju Bansal

Last updated
Sanju K. Bansal
Born
Patiala, India
Education B.S. in Electrical Engineering from Massachusetts Institute of Technology (MIT) & M.S. in Computer Science from The Johns Hopkins University
Occupation(s)Co-Founder, Former Vice Chairman of the Board, and Former Executive Vice President of MicroStrategy; Co-Founder and CEO of Hunch Analytics
Years active1990–Current
Board member ofPerspecta, EverQuote, Cvent, Clarabridge, Vestmark, Verato, CareJourney, Similarweb

Sanju K. Bansal is an Indian-American businessman, the co-founder of MicroStrategy, a worldwide provider of enterprise software platforms for business intelligence (BI), mobile software, big data and cloud-based services. [1] He served as the company's vice chairman of the board of directors and executive vice president till November 14, 2013. [2] From 1993-2012, he served as chief operating officer of MicroStrategy. Bansal serves or has served as a member of the board of directors of CSRA, a technology services provider to the US government, Cvent, a cloud-based event management software provider, [3] and The Advisory Board Company, a technology research services company.

Contents

Early life and education

Bansal was born in Patiala, India and emigrated with his parents to the United States when he was two years old. The family settled in the northern Virginia suburbs of Washington, DC. He attended Lake Braddock Secondary School in Burke, Virginia where he was a valedictorian.

His father, Ved Bansal, came to the United States in 1959 with $1000. His father's work ethic and emphasis on math and science in childhood has been cited as the foundation for his later education and career. [4]

Bansal received a Bachelor of Science in electrical engineering from MIT and a Master of Science in computer science from The Johns Hopkins University.

Career

Directly out of college, Sanju Bansal worked for the technology and management consulting firm, Booz Allen Hamilton.[ citation needed ]

In 1989, with MIT classmates Michael J. Saylor and Thomas Spahr, Bansal co-founded MicroStrategy. [5] Bansal helped build MicroStrategy with no venture capital, often working 80 to 100 hours per week to get the company off the ground. During this time, the company experienced rapid growth, increasing revenues by 100% every year between 1990 and 1996. [6] In June 1998, MicroStrategy had its initial public offering [7] and, on its first day of trading, the stock price doubled. [8] By March 2000, the company had a market cap of approximately $24 billion, making Bansal and other company leaders billionaires on paper.

Later that month, MicroStrategy announced that it would restate its financial results for the preceding two years, which resulted in an investigation by the U.S. Securities and Exchange Commission. [9] In December 2000, Saylor, Bansal, and the company's former CFO settled with the SEC without admitting wrongdoing by each paying $350,000 in fines. The officers also paid a combined total of $10 million in disgorgement. [10]

Subsequently, the company's stock price plummeted, from a high of $333.00 in March to a low of $9.25 by December 2000. [11] As chief operating officer, Bansal played a significant role in getting MicroStrategy back on its feet. [12] He was instrumental in raising more than $175 million in the following 17 months to keep the company going and expanding business into China in 2002. [13] The company employed more than 3,200 people worldwide [14] and reported revenue of $594.61 million [15] in 2012. As of 2013, the company has operations in 26 countries. [14]

In 2013, Bansal co-founded Hunch Analytics with Aneesh Chopra, which currently contains one portfolio company: CareJourney, a healthcare data analytics firm. [16]

Board memberships

Bansal serves as a board member for the following companies:

Previous Boards

Philanthropy

In 1999, Bansal established the Sanju K. Bansal Foundation. The foundation tagline is "helping people help themselves through improved access to information." [25] The foundation is known for its financial sponsorship of WAMU 88.5, American University Radio. [26] WAMU 88.5 is the leading public radio station for NPR news and information in the greater Washington, D.C. area. In 2020, Bansal became a trustee of the NPR Foundation.

In 2020, he was also appointed chairman of the advisory board of Virginia Tech’s Innovation Campus. The Innovation Campus will be the school's $1 billion computer science-focused graduate campus, located in Alexandria, Virginia.

In 2016, Bansal joined the XPrize Foundation Innovation Board. Since 1994, the XPRIZE Foundation has designed and operated 17 competitions in the domain areas of Space, Oceans, Learning, Health, Energy, Environment, Transportation, Safety and Robotics.

In May 2010, the Kailash Goyal Foundation, with aid from the Bansal Foundation, opened the JK Shanti Charitable Clinic, a free clinic to support the medical needs of the villagers and laborers near the Indian town of Panchkula. The clinic treats approximately 20,000 people a year.

Bansal served on the Board of Directors for Wolf Trap Foundation for the Performing Arts from 2000 to 2006. Located near Vienna, Virginia, Wolf Trap is the only National Park dedicated to the performing arts. [27] The Bansal Foundation contributes to organizations including XPrize, the Washington Humane Society, [28] the Network for Teaching Entrepreneurship (NFTE), [29] Upakar Indian-American Scholarship Foundation, [30] the Kailash Goyal Foundation, [31] The Global India Fund, [32] and Wolf Trap National Park for the Performing Arts. [27]

Recognition and awards

In 2013, Bansal received the Washington Business Journal 's Outstanding Directors award for his work with Cvent. [33]

In 2009, 2011, and 2013, Bansal was named one of The Washingtonian 's 100 Top Tech Titans, a list honoring the top 100 leaders of Washington DC's tech world. [34]

In 2009, he was named one of The Washingtonian's "Style Setters". [35]

Related Research Articles

<span class="mw-page-title-main">Nasdaq</span> American stock exchange

The Nasdaq Stock Market is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list of stock exchanges by market capitalization of shares traded, behind the New York Stock Exchange. The exchange platform is owned by Nasdaq, Inc., which also owns the Nasdaq Nordic stock market network and several U.S.-based stock and options exchanges. Although it trades stock of healthcare, financial, media, entertainment, retail, hospitality, and food businesses, it focuses more on technology stocks. The exchange is made up of both American and foreign firms, with China and Israel being the largest foreign sources.

<span class="mw-page-title-main">Euronext</span> European financial services company

Euronext N.V. is a European bourse that provides trading and post-trade services for a range of financial instruments.

Peter Altabef is an American businessman and lawyer. He is currently the Chair and CEO of Unisys, positions he has held since 2018 and 2015, respectively. He also served twice as the company’s president.

Jacqueline Mars is an American heiress and investor. She is the daughter of Audrey Ruth (Meyer) and Forrest Mars, Sr., and the granddaughter of Frank C. Mars, founders of the American candy company Mars, Incorporated. As of November 2023, Bloomberg Billionaires Index estimated her net worth at US$46.6 billion, ranking her the 23rd-richest person in the world. In the annual ranking of the richest women in the world in 2023, Forbes estimated her fortune at $38.3 billion and placed her in fourth place.

MicroStrategy Incorporated is an American development company that provides business intelligence (BI), mobile software, and cloud-based services. Founded in 1989 by Michael J. Saylor, Sanju Bansal, and Thomas Spahr, the firm develops software to analyze internal and external data in order to make business decisions and to develop mobile apps. It is a public company headquartered in Tysons Corner, Virginia, in the Washington metropolitan area. Its primary business analytics competitors include SAP AG Business Objects, IBM Cognos, and Oracle Corporation's BI Platform. Saylor is the Executive Chairman and, from 1989 to 2022, was the CEO.

Bruce Pasternack was the President and CEO of the Special Olympics International from 2005 to 2007. He served on the board of directors of Codexis, a biotechnology company based out of Redwood City California, Accelrys, Inc. a software company specializing in biotechnology, BEA Systems a company specialized in enterprise infrastructure software products, Quantum Corporation a manufacturer of data storage devices and systems, and Symyx Technologies a company that specialized in informatics and automation products. Prior to being a director for public companies, he was a Senior Vice President of Booz-Allen & Hamilton Inc. for over 20 years, and the Managing Partner of the firm's organization and strategic leadership center and its offices in California as well as leading the energy, chemicals and pharmaceuticals practice.

NYSE Euronext, Inc. was a transatlantic multinational financial services corporation that operated multiple securities exchanges, including the New York Stock Exchange, Euronext and NYSE Arca. NYSE merged with Archipelago Holdings on March 7, 2006, forming NYSE Group, Inc. On April 4, 2007, NYSE Group, Inc. merged with Euronext N.V. to form the first global equities exchange, with its headquarters in Lower Manhattan. The corporation was then acquired by Intercontinental Exchange, which subsequently spun off Euronext.

<span class="mw-page-title-main">Michael J. Saylor</span> American business executive (born 1965)

Michael J. Saylor is an American entrepreneur and business executive. He is the executive chairman and co-founder of MicroStrategy, a company that provides business intelligence, mobile software, and cloud-based services. Saylor was MicroStrategy's chief executive officer from 1989 to 2022; in 2000, Saylor was charged by the SEC with fraudulently reporting MicroStrategy's financial results for the preceding two years. He later reached a settlement with the SEC for $350,000 in penalties and $8.3 million in personal disgorgement. Saylor is a bitcoin advocate and under Saylor MicroStrategy has spent billions of dollars to purchase over a hundred-thousand bitcoin. In 2024, he paid a $40 million fine to settle a tax fraud suit. He authored the 2012 book The Mobile Wave: How Mobile Intelligence Will Change Everything. He is also the sole trustee of Saylor Academy, a provider of free online education.

<span class="mw-page-title-main">Jean Case</span> American businesswoman (born 1959)

Jean Case is an American businesswoman, author, and philanthropist who is chair of the board of National Geographic, CEO of Case Impact Network, and CEO of the Case Foundation. She is married to AOL co-founder Steve Case.

<span class="mw-page-title-main">Intercontinental Exchange</span> American exchange and clearing house company

Intercontinental Exchange, Inc. (ICE) is an American multinational financial services company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on the Fortune 500, S&P 500, and Russell 1000, the company owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces. This includes ICE futures exchanges in the United States, Canada, and Europe; the Liffe futures exchanges in Europe; the New York Stock Exchange; equity options exchanges; and OTC energy, credit, and equity markets.

<span class="mw-page-title-main">New Media Strategies</span> Defunct media company

New Media Strategies (NMS) was a social media agency headquartered in Arlington, Virginia. The company was founded in 1999 by Pete Snyder, and as of 2011 had 120 employees. NMS was known as one of the first companies to strictly focus on social media as a form of marketing communications, and in 2011 was described as "the largest social media agency in the world" by The Washington Post. It was a subsidiary of Meredith Corporation, a Fortune 500 media company which acquired NMS in 2007.

<span class="mw-page-title-main">Pete Snyder</span> American businessman

Pete Snyder is an American entrepreneur and marketing executive who is best known as the founder and former chief executive officer of New Media Strategies (NMS), a social media marketing agency that he started in 1999. Snyder stepped down as CEO of NMS in 2011 and founded the angel investment firm Disruptor Capital in 2012. Snyder unsuccessfully ran in the Republican primary for lieutenant governor of Virginia in 2013. Snyder declined to run for the Republican nomination for governor in 2017, instead chairing the campaign of Ed Gillespie. In 2021, he sought the Republican nomination for governor of Virginia. He finished in second place, behind eventual general election winner Glenn Youngkin.

Robert D. Beyer is an American investor and executive. He is currently Chairman of Chaparal Investments LLC, a private investment firm and diversified holding company with interests in both financial and operating assets. Previously, he was Executive Chairman of Crescent Acquisition Corp, a publicly traded blank check company that merged with LiveVox Holdings, Inc. in 2021. He was Chief Executive Officer and a director of TCW Group from 2005 until 2009, a diversified investment management firm with assets in excess of $150 billion; he previously served as president and Chief Investment Officer from 2000 until 2005.

Cvent Holding Corp. is a Tysons Corner, Virginia–based company that provides software-as-a-service (SaaS) solutions for meetings, events, and hospitality management. Their web-based platform caters to in-person, virtual, and hybrid events, offering functionalities like online registration, venue selection, event management tools, and attendee engagement features. Cvent also provides software for hotels and venues to manage group bookings, including corporate travel, and source new group business. Previously a public company, Cvent was acquired by investment firm Blackstone Inc. for $4.6 billion in June 2023.

Arie S. Belldegrun, FACS, is an Israeli-American urologic oncologist, billionaire businessman and investor.

The SPDR S&P 500 ETF Trust is an exchange-traded fund which trades on the NYSE Arca under the symbol SPY. The ETF is designed to track the S&P 500 index by holding a portfolio comprising all 500 companies on the index. It is a part of the SPDR family of ETFs and is managed by State Street Global Advisors. The fund is the largest and oldest ETF in the USA. Legally, the fund is set up as an unit investment trust. It has a net expense ratio of 0.0945%, its CUSIP is 78462F103, and its ISIN is US78462F1030.

<span class="mw-page-title-main">Stu Shea</span> American business executive

Stu Shea is an American business executive, leader and intelligence professional serving in a leadership capacity to both public and private companies, as well as an advisor to government agencies, private equity investors, and academic institutions. Shea is the former chairman, president and chief executive officer of Peraton, a national security technology company. He is also the former president and chief operating officer of Leidos, chief operating officer of Science Applications International Corporation (SAIC), and founder and emeritus chairman of the United States Geospatial Intelligence Foundation.

<span class="mw-page-title-main">Nicholas Schorsch</span> American businessman

Nicholas Sloan "Nick" Schorsch (born March 2, 1961) is an American millionaire entrepreneur, investor, and philanthropist. Schorsch is the chairman, CEO, and co-founder of the investment services firm VEREIT.

<span class="mw-page-title-main">CEB Inc.</span> Former business consulting company

CEB, formerly Corporate Executive Board, now a part of Gartner, was a company providing best practice research, benchmarks, and decision support tools to business leaders in HR, Finance, IT, Marketing, Sales, Customer Service, Strategy, R&D, Procurement, Legal, and Compliance functions globally. It was one of the first firms to offer a subscription pricing model for insights and advice, challenging the prevailing consulting delivery model and paving the way for subscription-as-a-service ("SaaS") pricing models now favored by software companies. Gartner announced its acquisition of CEB in January 2017, completed the acquisition in April 2017, and integrated the company in July 2018.

<span class="mw-page-title-main">Burke W. Whitman</span> United States Marine Corps general

Burke W. Whitman is an American executive, board director, and former United States Marine Corps general. He serves and leads national and global organizations in business, civil society, and national service.

References

  1. ↑ Salter, Chuck (2007-12-19). "The Reeducation of an Internet CEO". Fast Company. Retrieved 2013-08-23.
  2. 1 2 Heath, Thomas (2013-11-17). "Capital Buzz: MicroStrategy's vice chairman gives up his day job". The Washington Post . ISSN   0190-8286 . Retrieved 2019-09-26.
  3. ↑ "Cvent Announces Pricing of Initial Public Offering". Herald Online. 2013-08-08. Archived from the original on 2013-08-21. Retrieved 2013-08-23.
  4. ↑ Martin Kady II, "In the shadows", Washington Business Journal, November 27, 2000
  5. ↑ Leibovich, Mark (2002-01-06). "MicroStrategy's CEO Sped to the Brink". The Washington Post . ISSN   0190-8286 . Retrieved 2019-09-26.
  6. ↑ Glasser, Jeff (1996-07-15). "From the Ground Up and Up". The Washington Post. Retrieved 2013-08-23.
  7. ↑ "Initial Public Offerings Key Data". NASDAQ. 1998-06-11. Archived from the original on 2012-03-08. Retrieved 2013-08-23.
  8. ↑ Kaplan, David A. (2012-07-12). "MicroStrategy's boy king grows up". Fortune. Archived from the original on 2013-01-22. Retrieved 2013-08-23.
  9. ↑ Hilzenrath, David S. (2000-03-22). "For MicroStrategy, A Matter of Timing". The Washington Post. Retrieved 2013-08-23.
  10. ↑ Lau, Debra (2000-12-18). "Forbes Faces: Michael Saylor". Forbes. Retrieved 2013-08-23.
  11. ↑ "Historical Prices: MicroStrategy, Inc. (MSTR)". Yahoo! Finance. Retrieved 2013-08-23.
  12. ↑ Flook, Bill (2012-03-23). "30 Years: In 2000, MicroStrategy restated two years of earnings". Washington Business Journal. Retrieved 2013-08-23.
  13. ↑ Jeff Clabaugh, 'MicroStrategy reorganizes management', Washington Business Journal, October 22, 2012
  14. 1 2 "About Us - We Turn Data Into Intelligence". MicroStrategy. Retrieved 13 March 2018.
  15. ↑ "MicroStrategy Announces Fourth Quarter 2012 Financial Results - MicroStrategy Incorporated". MicroStrategy Incorporated. Retrieved 13 March 2018.
  16. ↑ "Former MicroStrategy executive Sanju Bansal now CEO of Arlington-based Hunch Analytics". washingtonpost.com. March 26, 2014.
  17. ↑ "EverQuote Appoints Sanju Bansal and John Lunny to its Board of Directors". www.businesswire.com. 2015-05-26. Retrieved 2019-09-26.
  18. ↑ "Company". CareJourney. 2015-02-17. Retrieved 2019-09-26.
  19. ↑ Dynamics, General. "General Dynamics to Acquire CSRA for $9.6 Billion". www.prnewswire.com (Press release). Retrieved 2019-09-26.
  20. ↑ "Advisory Board split in $2.6B deal with UnitedHealth's Optum buying healthcare business". Modern Healthcare. 2017-08-29. Retrieved 2019-09-26.
  21. ↑ "After Seed Labs, Cvent Snags CrowdCompass For $10M To Double Down On Mobile Event Apps". TechCrunch. 19 June 2012. Retrieved 2019-09-26.
  22. ↑ Capital, Contributor Renaissance Capital Renaissance. "Cvent prices IPO at $21, above the range". www.nasdaq.com. Retrieved 2019-09-26.{{cite web}}: |first= has generic name (help)
  23. ↑ "Vista Equity Partners Completes Acquisition of Cvent | Cvent". www.cvent.com. Retrieved 2019-09-26.
  24. ↑ "Clarabridge Adds MicroStrategy's Sanju Bansal to Board of Directors". Archived from the original on 25 January 2013. Retrieved 13 March 2018.
  25. ↑ "Nonprofit Report for Bansal Foundation". GuideStar. Retrieved 2013-08-23.
  26. ↑ "WAMU Annual Report 2011" (PDF). WAMU. Retrieved 2013-08-23.
  27. 1 2 "Philanthropic 50: Sanju Bansal". Washington Life Magazine. 2018-07-07. Retrieved 2019-09-26.
  28. ↑ "Fashion for Paws". WashHumane.org. Retrieved 2013-08-23.
  29. ↑ "Supporters". Network for Teaching Entrepreneurship. 2012-06-01. Retrieved 2013-08-23.
  30. ↑ "Donors". Indian-American Scholarship Foundation. Archived from the original on 2010-08-24. Retrieved 2013-08-23.
  31. ↑ "JKShanti | Foundation" . Retrieved 2019-09-26.
  32. ↑ Sridhar, Srimathi (2013-03-08). "Global India Fund's 'Invest in Girls, Invest in a Stronger Future' with Ashley Judd Raises $150K". WashingtonExec. Retrieved 2013-08-23.
  33. ↑ "Outstanding Directors: Sanju Bansal". Washington Business Journal. 2013-03-01. Retrieved 2013-08-23.
  34. ↑ "Washingtonian Tech Titans". The Washingtonian. Retrieved 2013-08-23.
  35. ↑ "Style Setters 2009: Sanju Bansal - Washingtonian". 1 October 2009. Retrieved 13 March 2018.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.