Daniel Dines, 40, is currently one of the top 500 billionaires in the world.
April 22, 2021
3 minutes of reading
Daniel Dines is the CEO of UiPath Inc, an automation software maker that raised $ 1.3 billion in a U.S. IPO on Wednesday. The 49-year-old owns $ 6 billion in shares in the company, making him among the top 500 people. billionaire In the world.
However, the road to that success is not easy. Dines studied mathematics and computer science at the University of Bucharest at a time when Romania was still under the rule of dictator Nicolae Ceausescu. At last year’s annual Montgomery Summit technology conference, he revealed that he immigrated to the US in his 20s to work for Microsoft in 2001.
“For someone in their 20s coming to the US from Europe, it was a huge challenge for me to adapt to the United States, although professionally speaking of my experience at Microsoft is very good”, I said.
That time then prompted him to return to Romania and start a company that now automates low-skill jobs that are often assigned to workers in low-wage countries.
“I had the crazy idea of going back and starting a company,” he recalled at the conference.
When he started UiPath, the biggest challenge also became Dines’s best weapon, he said in a letter accompanying the company’s registration profile for listing.
“Starting a company from a small place with no market has one hidden advantage: It forces you to think globally from day one,” he said.
Since then, UiPath has grown from a small business to a company that dominates robotic automation. Based on ForbesUiPath generated revenue of $ 155 million in 2019. This year, it has raised $ 750 million in funding, led by Alkeon Capital and Coatue. Dines currently owns all of UiPath’s Grade B shares and will continue to control the company even after selling a stake in the approximately $ 75 million offering.
“You have to become a public company at some point to allow your employees more liquidity, give them stock options,” he said. Bloomberg in an interview last year. “We’re almost there.”