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Anand Deshpande is the founder and CEO of Persistent Systems, a global IT services company. He is also a philanthropist, an educator, and a speaker on various topics related to India, entrepreneurship, and life.
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5 days ago · Anand Deshpande is the chairman and managing director of Persistent Systems, a software firm that provides digital engineering and data and AI products. He started the company in 1990 with $21,000 and became a billionaire in 2023.
Persistent Systems was founded in 1990 by Anand Deshpande, a former Hewlett-Packard employee, with an investment of $21,000. In 2000, Intel Capital invested $1 million in the company for a 3.5% stake. In 2005, Persistent raised $18.8 million from Norwest Venture Partners and Gabriel Venture Partners.
Dr. Anand Deshpande is the Founder, Chairman, and Managing Director of Persistent Systems since inception and is responsible for the overall leadership of the Company.
- The Studious Child
- Optimising Choices
- Rushing Through A Phd
- The X+1 Syndrome
- The Grant and The French Businessman
- Setting Up A Software Company in 1990
- More Projects, VC Funding
- S-Curves in The Business
- 4 I’s and The Era of Software Driven Businesses
- Set of Challenges
Anand was born in Akola, Maharashtra, and was raised in the BHEL township in Bhopal as his father was an engineer at the government enterprise. Studying at Campion School until class 11th- higher secondary then – Anand says he was a serious, studious child and had a strong academic performance. Anand cleared the entrance for the National Defence Ac...
Anand was introduced to the world of databases in 1983-84. He worked on a database project for queries by example, which was new then. Job opportunities for computer science graduates weren't as exciting, and many IITians chose to go abroad for higher studies. Anand went to Indiana University. Anand says he chose Indiana University because of the f...
Anand started with his masters at Indiana University and in his third semester cleared the PhD qualifying exam. His thesis was on nested relational databases with Professor Dirk Van Gucht as the advisor. Anand worked on indexing, query processing, and complex objects in his thesis. “We wrote some code in Scheme (a variant of Lisp), some in C and PA...
Anand had a job offer from HP Labs almost nine months before he graduated. Bill Hewlett and David Packard were around at that time and worked in the same building - this was 1989 and HP had completed 50 years. As part of the research labs, Anand’s job was to deal with data-related areas specific to programming environments. This was sort of the nex...
Anand decided he was either going to stay in the US, or should go back right away. As soon as he joined HP, he said he was not going to stay for long, to which he was told, “We've heard this from a lot of people.” Six months into the job, Anand was asked if he wanted to convert his visa to an H1, or get a green card. Anand decided to leave. When he...
Persistent Systems was incorporated by Anand’s parents in Pune in May 1990 while he was still in the US. “We called it Persistent Systems because we were working on systems that are persistent, which is databases.” In March that year, the Government of India had set up the first Software Technology Park (STP) in Pune, the brainchild of N. Vittal, t...
Persistent Systems’ third customer was Microsoft, and migrated assembly code from 16 bit to 32 bit for a FORTRAN compiler. Soon, Persistent Systems had HP, Illustra and some other top database companies as clients. Sridhar Shukla joined Persistent Systems in 1995. His background was similar to that of Anand and he focused on growing the networking ...
According to Anand, all businesses go through S-curves where you start, grow the business, then flatten up, then grow again. So one needs to find the next S all the time. Persistent Systems is on the fourth S right now. First S – The First S was the early years when the company was very boutique, and founder-driven. Anand was a techie selling (and ...
Anand shared four examples on how all businesses are becoming software-driven. He divided this into 4 I’s: 1. Incremental development– Persistent worked on a project for Bridgestone Tyres a few years back, where it helped the company sell tyres as a business in Europe. Customers rent tyres instead of buying, and the business model is software drive...
The opportunity for Anand (and Persistent) is huge but has not come easy. The company is working on tackling the following challenges at the moment: 1. Market is shifting because effort for the same work is going down drastically due to abstraction. As a consequence, the company is required to reduce the number of people working on projects. 2. The...
- Alok Soni
Jun 10, 2013 · Anand Deshpande is founder, CEO and managing director of Persistent Systems. Prior to setting up the Pune-based company in 1990, he worked at Hewlett-Packard Laboratories in Palo...
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Sep 1, 2021 · Anand Deshpande has joined the ranks of the world's billionaires after shares of his Persistent Systems surged 237% this year.
