Business
Jaynti Kanani's family lived in a very small flat on the outskirts of Ahmedabad. His father worked in a diamond factory. Jaynti Kanani somehow completed his B Tech studies in Computer Science. The circumstances at home were not such that he could study further.
Updated : Nov 19, 2023, 12:57 PM IST | Edited by : Riddhima Kanetkar
 "Meet factory worker’s son who took a loan for his wedding, later built company worth Rs 55000 crore, not from IIT, IIM")
It is said that God supports those who work hard and do not lose courage. Jaynti Kanani, born on the outskirts of Ahmedabad and co-founder of the crypto platform Polygon, is a living example of this. Jaynti Kanani, who belonged to a poor family, had very poor financial conditions and he completed his studies with great difficulty. Jaynti Kanani's father was a small factory worker and his earnings were barely enough to sustain the family. Jaynti Kanani had only one dream since childhood which was getting his family out of poverty. Within a few years, he turned his dream into reality. Today, Jaynti Kanani is the owner of a company worth Rs 55,000 crore. He left the startup Polygon in March and after a leadership reshuffle, chief legal officer Marc Boiron took over as the new CEO.
Jaynti Kanani's family lived in a very small flat on the outskirts of Ahmedabad. His father worked in a diamond factory. Jaynti Kanani somehow completed his B Tech studies in Computer Science. The circumstances at home were not such that he could study further. Therefore, Jaynti Kanani started working as soon as he finished his studies.
Jaynti Kanani's salary was Rs 6,000
Jaynti Kanani got only Rs 6,000 as a salary in his first job. His father's eyes had become very weak. Jaynti Kanani asked him to leave his work. Due to his father not working, all the responsibilities fell on him. Jaynti Kanani changed his job and started working elsewhere. Also, for additional income, Jaynti Kanani used to work on some projects at home even after the job. Due to this, the household started living well. But, Jaynti Kanani had to work very hard.
Jaynti Kanani took a loan and got married
Jaynti Kanani was not earning much money even after doing a job and part-time work. When he got married, he had to take a loan for the wedding. Jaynti Kanani was facing a lot of difficulties due to his low income and debt, but, while working this hard, he never thought of becoming an entrepreneur.
When Jaynti Kanani was working as a data analyst in a company, he met Sandeep Nailwal and Anurag Arjun. All three wanted to do something big to earn money. Sandeep is a software engineer. He has worked in companies like Deloitte and Wellspun. Similarly, the third co-founder Arjun had earlier started a GST-related startup. Together, all three started Polygon in 2017. Initially, it was named Matic.
Polygon has grown a lot in just 6 years. The current value of the company is estimated at Rs 55,000 crores. Polygon has also received funding from America's famous investor and Shark Tank judge Mark Cuban. In 2022, Polygon raised $450 million in funding from investors like SoftBank, Tiger Global, and Sequoia Capital India. The market cap stands at around $6.7 billion (over Rs 55,000 crore) today.
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