Sanju Bansal Explained

Sanju K. Bansal
Birth Place: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:Co-Founder, Former Vice Chairman of the Board, and Former Executive Vice President of MicroStrategy; Co-Founder and CEO of Hunch Analytics
Years Active:1990 - Current
Boards:Perspecta, 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.

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 $1. 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.

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.

Recognition and awards

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

In 2009, 2011, and 2013, Bansal was named one of The Washingtonian 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 "Style Setters".[35]

Notes and References

  1. News: The Reeducation of an Internet CEO . Fast Company . 2007-12-19. 2013-08-23 . Chuck . Salter.
  2. News: Capital Buzz: MicroStrategy's vice chairman gives up his day job. Heath. Thomas. 2013-11-17. The Washington Post. 2019-09-26. en-US. 0190-8286.
  3. News: Cvent Announces Pricing of Initial Public Offering . Herald Online . 2013-08-08 . 2013-08-23 . dead . https://web.archive.org/web/20130821085016/http://www.heraldonline.com/2013/08/08/5099834/cvent-announces-pricing-of-initial.html . 2013-08-21 .
  4. Martin Kady II, "In the shadows", Washington Business Journal, November 27, 2000
  5. News: MicroStrategy's CEO Sped to the Brink. Leibovich. Mark. 2002-01-06. The Washington Post. 2019-09-26. en-US. 0190-8286.
  6. News: From the Ground Up and Up . The Washington Post . 1996-07-15. 2013-08-23. Jeff. Glasser.
  7. News: Initial Public Offerings Key Data . NASDAQ . 1998-06-11 . 2013-08-23 . dead . https://web.archive.org/web/20120308230756/http://ipo.nasdaq.com/Fundamentals.asp?cikid=11748&fnid=4633&coname=MICROSTRATEGY+INC&selected=MSTR&market=Nasdaq+National+Market . 2012-03-08 .
  8. News: MicroStrategy's boy king grows up . Fortune . 2012-07-12 . 2013-08-23 . David A. . Kaplan . dead . https://web.archive.org/web/20130122040044/http://tech.fortune.cnn.com/2012/06/27/microstrategy-michael-saylor/ . 2013-01-22 .
  9. News: For MicroStrategy, A Matter of Timing . The Washington Post . 2000-03-22. 2013-08-23. David S.. Hilzenrath.
  10. News: Forbes Faces: Michael Saylor . Forbes . 2000-12-18. 2013-08-23. Debra . Lau.
  11. News: Historical Prices: MicroStrategy, Inc. (MSTR) . Yahoo! Finance . 2013-08-23.
  12. News: 30 Years: In 2000, MicroStrategy restated two years of earnings . Washington Business Journal . 2012-03-23. 2013-08-23. Bill . Flook.
  13. Jeff Clabaugh, 'MicroStrategy reorganizes management', Washington Business Journal, October 22, 2012
  14. Web site: About Us - We Turn Data Into Intelligence. MicroStrategy. 13 March 2018.
  15. Web site: MicroStrategy Announces Fourth Quarter 2012 Financial Results - MicroStrategy Incorporated. MicroStrategy Incorporated. 13 March 2018.
  16. Web site: Former MicroStrategy executive Sanju Bansal now CEO of Arlington-based Hunch Analytics. March 26, 2014. washingtonpost.com.
  17. Web site: EverQuote Appoints Sanju Bansal and John Lunny to its Board of Directors. 2015-05-26. www.businesswire.com. en. 2019-09-26.
  18. Web site: Company. 2015-02-17. CareJourney. en-US. 2019-09-26.
  19. General Dynamics to Acquire CSRA for $9.6 Billion. Dynamics. General. www.prnewswire.com. en. 2019-09-26.
  20. Web site: Advisory Board split in $2.6B deal with UnitedHealth's Optum buying healthcare business. 2017-08-29. Modern Healthcare. en. 2019-09-26.
  21. Web site: 19 June 2012 . After Seed Labs, Cvent Snags CrowdCompass For $10M To Double Down On Mobile Event Apps . 2019-09-26 . TechCrunch . en-US.
  22. Web site: Capital . Contributor Renaissance Capital Renaissance . Cvent prices IPO at $21, above the range . 2019-09-26 . www.nasdaq.com . en.
  23. Web site: Vista Equity Partners Completes Acquisition of Cvent Cvent . 2019-09-26 . www.cvent.com . en.
  24. Web site: Clarabridge Adds MicroStrategy's Sanju Bansal to Board of Directors. . dead . https://archive.today/20130125052957/http://www.highbeam.com/doc/1G1-222128619.html . 25 January 2013 . 13 March 2018.
  25. News: Nonprofit Report for Bansal Foundation . GuideStar . 2013-08-23.
  26. News: WAMU Annual Report 2011 . WAMU . 2013-08-23.
  27. Web site: 2018-07-07 . Philanthropic 50: Sanju Bansal . 2019-09-26 . Washington Life Magazine . en-US.
  28. News: Fashion for Paws . WashHumane.org . 2013-08-23.
  29. News: 2012-06-01 . Supporters . Network for Teaching Entrepreneurship . 2013-08-23.
  30. News: Donors . Indian-American Scholarship Foundation . dead . 2013-08-23 . https://web.archive.org/web/20100824105836/http://www.upakarfoundation.org/about/donors . 2010-08-24.
  31. Web site: JKShanti Foundation . 2019-09-26 . en-US.
  32. News: Sridhar . Srimathi . 2013-03-08 . Global India Fund's 'Invest in Girls, Invest in a Stronger Future' with Ashley Judd Raises $150K . WashingtonExec . 2013-08-23.
  33. News: Outstanding Directors: Sanju Bansal . Washington Business Journal . 2013-03-01. 2013-08-23.
  34. News: Washingtonian Tech Titans . The Washingtonian . 2013-08-23.
  35. Web site: Style Setters 2009: Sanju Bansal - Washingtonian. 1 October 2009. 13 March 2018.

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