How Rubrik's IPO paid off big for Greylock VC Asheem Chandna [TechCrunch]
Palo Alto Networks, Inc. (PANW)
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Source: TechCrunch
When Asheem Chandna drove up to Rubrik's office in Palo Alto on a Friday night in early 2015, he was looking forward to learning what the young company that had yet to build its product would show him. The Greylock partner wasn't disappointed. The company's CEO, Bipul Sinha, drew Rubrik's plan to revamp the data management and recovery market on a whiteboard. “The old versus new architecture he presented was very compelling,” Chandna said. “Based on my knowledge of the sector, I knew it could be built into a large business.” That was a prescient call. On Thursday, nine years after that meeting, Rubrik began its life as a publicly traded company with a market cap of over $6 billion . Greylock holds a 13% stake, according to the latest SEC filings. By the close of market Friday, with shares priced at $38, those nearly 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 motivated h
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