025 Courage to be Different w/ Vineet Jain, Founder/CEO Egnyte

Monday 15th July 2019
Courage to be Different w/ Vineet Jain, Founder/CEO Egnyte Follow Your Different™ Podcast

How do you carve out a counter-intuitive niche and be successful at it? On today’s episode, Vineet Jain joins us for a discussion about how he charted a path different from every other tech person’s. He also shares how it all paid off, ten years later.

Swimming Upstream to Grow

Vineet has built a business that has seen nine consecutive quarters of records. They did this against a landscape of massive competitors who at one time looked like they might really threaten Egnyte. And to achieve this, they had to niche down.

“Indeed, this company of ours has grown in the big shadow being cast by some of the players who had a lot more funding.” – Vineet Jain

Financing Against the Trend

Year over year, Egnyte had a compounded growth rate of 30-35% and wasn’t raising much money. It wasn’t until the fourth quarter of 2016 that their cash flow turned positive. But Vineet knew that this wasn’t enough to keep the company afloat.

In August of 2018, he pitched that they raised financing. This was despite the general trend that tech companies observed. Sure enough, Vineet’s confident promise was met, and Goldman Sacks came into the picture.

Divine Luck and Difference

Egnyte had a size disadvantage against other companies in their category. They had a little over 600 employees, so they had to figure out how to play to this asymmetry. Ultimately, they decided to focus on their product and the economics of customer acquisition.

“You cannot pick a fight with an enemy who has picked your weapon of choice.” – Vineet Jain

Even with how they tried to show how they were different, they didn’t escape being lumped with 100 other vendors. But the confluence of two factors helped them rise: the expansion of the category they belonged to and the adoption curve becoming mainstream. With a product that fit the market at an interesting period, they got higher demand.

To hear more about how Vineet worked to build Egnyte to reach its pre-eminence and raised a $75M-funding round, download and listen to the episode.

Bio:

Vineet Jain is the CEO and co-founder of Egnyte.

Prior to Egnyte, Vineet founded and successfully built Valdero, a supply chain software solution provider, funded by KPCB, MDV and Trinity Ventures.

He has held a rich variety of senior operational positions at KPMG and Bechtel. He has 20 years of experience in building capital-efficient and nimble organizations. Vineet earned a BS in Engineering from Delhi College of Engineering and received an MBA from Santa Clara University.

Links:

Egnyte.com

Twitter

LinkedIn

We hope you enjoyed Vineet Jain on this episode of Follow Your Different™! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, Twitter, Instagram and subscribe on iTunes!

  • Quotes

    “This is a great podcast for those who want to be on a constant learning adventure”
    - iTunes Reviewer

    “The only podcast I listen to. I don’t have time to listen to podcasts, but I make the time to listen to this one”
    - iTunes Reviewer

    “So, so good!!! By far my favorite podcast – really enjoy the straightforward, no BS conversations”
    - iTunes Reviewer

    “#1 Podcast for a reason”
    - iTunes Reviewer

    “This is not your average self help podcast”
    - iTunes Reviewer

    “Honesty and passion”
    - iTunes Reviewer

    “Quite frankly, unlike any other podcast”
    - iTunes Reviewer

    "Real conversations with no bullshit - the guests get driven away from their standard form responses, and irreverence is valued"
    - Podcast Listener

    "I listen during my commute. I feel like I learn something new every conversation and I feel energized and empowered to tackle the small and big challenges. "
    - Podcast Listener

    "There is an authenticity to Christopher's approach that I respect, in addition to the breadth of the subject matter. Also a huge fan of his 2 books. "
    - Podcast Listener

    "The people that “get it” today are doing things in an authentic manner. They realize that no one wants the over produced glitzy BS and instead they just want to learn. I listen to this podcast because it cuts through the noise and provides incredible insight on how to build a legendary company / career - and it’s coming from folks that have done it, not just talked about it. "
    - Podcast Listener

    "Good people, good conversations, fun and insightful"
    - Podcast Listener

    "I love Christopher and TOTALLY relate to how his heart and brain work - just like mine! - and I feel a greater invitation to be more ME - as I am-take it or leave it. Every single guest arrives authentic and beyond inspiring and OMG I LAUGH LAUGH LAUGH! I keep buying all their books! Love you Christopher and love that you share your REAL YOU with all of us and invite us all to do the same!"
    - Podcast Listener

    "I like being exposed to people and thoughts that I wouldn’t normally get to listen and learn from in the general day to day of life and business”
    - Podcast Listener

    "It is like being a fly on the wall in a high level conversation and there are great insights from people with proven legendary results "
    - Podcast Listener

    “Christopher Lochhead is the Joe Rogan of Business”
    - Jon Bergoff, CEO, Flourishing Leadership Institute

    "Off-putting to some"
    - The Economist

    "Christopher Lochhead is a human exclamation point"
    - Fast Company Magazine

    "Christopher Lochhead is one of the best minds in marketing"
    - The Marketing Journal

    “Christopher Lochhead is an exploding star – a quasar across the sky."
    - Bill Walton, NBA Hall of Fame Legend

    Sponsored by:

    Latest Episodes

    079 The Power of Unstructured Conversations w/ Podcaster Eric Hunley

    078 From Goldman Sachs To Cannabis Venture Capital Pioneer w/ Codie Sanchez

    077 Venture Capital, Startups, IPOs & Immigrants Oh My!

    Listen via these channels