, On Second Day Of Trading, Sprinklr’s Stock Price Makes Its Founder And CEO A New Billionaire, The Nzuchi News Forbes

On Second Day Of Trading, Sprinklr’s Stock Price Makes Its Founder And CEO A New Billionaire

, On Second Day Of Trading, Sprinklr’s Stock Price Makes Its Founder And CEO A New Billionaire, The Nzuchi News Forbes

As Facebook and Google spent a decade picking off social media startups, Sprinklr never sold. Now, a day after listing on the New York Stock Exchange, the company’s market cap has made Founder and CEO Ragy Thomas a new billionaire.

After its downsized IPO on Wednesday, the New York-based customer experience management company’s stock rose 12% today to close at $19.64. Thomas—who founded Sprinklr in 2009—now owns shares worth $1.04 billion based on his total shares, excluding options.

“There are a few good reasons to take a company public,” Thomas told Forbes. “The reason that is most relevant for us and makes now a great time for us to take this company public is the marketing platform that this IPO gives. We’ve got amazing customer stories…Now, the need of the hour is for another 170,000 companies who have over $100 million in revenue to know the story.”

, On Second Day Of Trading, Sprinklr’s Stock Price Makes Its Founder And CEO A New Billionaire, The Nzuchi News Forbes

Top individual shareholders within the company include chief operating officer Vivek Kundra (who joined Sprinklr in 2018), chief revenue officer Luca Lazzaron (who joined in 2017), board member Neeraj Agrawal, and Hellman & Friedman Partner Tarim Wasim, which invested in Sprinklr last year. Other shareholders include former Cisco CEO John Chambers, who joined Sprinklr’s board when he invested in the company in 2017.

In an interview earlier this week, Chambers said going public earlier rather than later within a company’s life is “better motivation for your employees.”

“But more importantly, it helps you on your brand with your customers, and perhaps the overriding issue for me is American citizens get a chance to participate,” he said. “If you wait until a company goes out at $50 billion valuation, how many 10x upkicks are you going to have from that? And if you go out at a different earlier level of valuation much like Cisco did and you invested $1 in Cisco stock when we went public and you sold it when you left, you’d make $1,500. I mean, that is off the charts in terms of return. We created 10,000 millionaires among our employees.”

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