Cybersecurity firm Rubrik opened its $752 billion IPO on April 25. 2024 priced at $32 per share with 23,500,000 stocks on offer. The Microsoft-backed company is headed by Bipul Sinha, an IIT kharagpur graduate who rose from poverty in Bihar.
How Rubrik co-founder and CEO Bipul SInha went from rags to riches. (Photo credit: Reuters)
New York: Microsoft-backed cybersecurity firm Rubrik has priced its $752 million IPO at a premium of $32 per share. Do you know the tech company has an Indian connection? Rubrik co-founder and CEO Bipul Sinha is an IIT Kharagpur graduate who went from being a venture capitalist to a startup founder. Sinha had been involved in funding for startups with a focus on software, mobile and Internet.
Who is Bipul Sinha?
A career techie, Sinha has previously worked with:
- Oracle
- American Megatrends
- IBM
He also went on to work at Blumberg Capital before working at Lightspeed. His interface with founders gave him the confidence to take the plunge in the startup pool.
After initial hiccups, Sinha decided to stay in the business after co-founding the comoany in 2014. Today, the company counts the following brands in its clientele:
- Whirpool
- PepsiCo
- Goldman Sachs
Apart from Sinha, Rubrik has another connection with India — over one-third of its workforce resides in the country, Forbes reported citing Sinha.
Bipul Sinha: Early life
The Rubrik CEO hails from Darbhanga in Bihar. He rose up from poverty after his father’s entrepreneurial journey ran into failure. Owing to their inability to afford private education, Sinha did his primary education in Hindi and only encountered English at the age of 14.
After failing to make the cut in the state engineering entrance exams, Sinha took a drop year only to clear the IIT entrance next year. He went on to get placed at Tata Information System, a JV between Tata Group and IBM.
He moved to the US after bagging an offer from American Megatrends.
Rubrik IPO details
Rubrik announced its $752 million IPO comprising 23,500,000 shares priced at $32 per share on April 25. The IPO will close on April 29, 2024 and Rubrik has been assigned the symbol RBRK. The IPO values the comoany at $5.6 billion.
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