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Workday CEO Makes Unexpected Acquisition Offer to AI Startup Founder

Economy & businessEconomy
Key Points
  • Workday CEO Carl Eschenbach unexpectedly offered to buy AI startup Sana during a video meeting with founder Joel Hellermark at a family gathering.
  • Hellermark immediately decided to pursue the acquisition offer, despite needing to secure it with other stakeholders.
  • Hellermark's international upbringing and early self-taught programming skills contributed to his drive to accomplish things quickly.

During a family dinner last summer, Joel Hellermark stepped away to take a video meeting. He sat on the floor in the guest cottage at his parents' summer house on the west coast and opened his computer for the meeting. Carl Eschenbach, then CEO of the global software company Workday, based in California, was on the other end of the video meeting.

Joel Hellermark believed the purpose of the meeting was to discuss a potential investment in the funding round his AI startup Sana was in the process of completing. Instead, Carl Eschenbach made an offer to buy the entire company. After about half an hour, Joel returned from the guest cottage, sweaty from the stuffy heat and the tension of the meeting, and told what had just happened.

Instead, he gave an offer to buy the entire company. It was a huge contrast that the CEO of one of the world's largest software companies presented an offer while I sat there on the floor.

Joel Hellermark, Founder of AI startup Sana

Joel Hellermark had already decided at that moment, although much work remained to secure the offer with other owners and staff. Joel Hellermark was born in Malaysia and the first years of his life the family lived in the Japanese megacity Tokyo. His father worked as a manager at a consulting company and his mother was a guest researcher at IBM.

When he was seven years old, the family moved home to Stockholm and most of his upbringing took place in the boy's room on Lidingö. He spent a lot of time in front of the computer watching courses on machine learning from Stanford and learned to program on his own. Joel Hellermark describes that he already at a young age became aware of life's finitude, and therefore hurried to accomplish things.

It became a shock for the family when I came back. It was a full circle moment that was very fun to share with them who have been there from the start.

Joel Hellermark, Founder of AI startup Sana

My parents are very curious people and never limited the topics of conversation to what was reasonable to discuss with a child. My mother always had a fire in her eyes about her research in chemistry and often talked about it. Being more interested in learning than being right was a value that I took with me from home.

Joel Hellermark, Founder of AI startup Sana

During one period I was very interested in neuroscience, another period philosophy and a third period programming. AI became somewhere a combination of all these domains.

Joel Hellermark, Founder of AI startup Sana

I read that Einstein and Newton did their most significant work in their twenties. I became stressed about not having time to do something meaningful.

Joel Hellermark, Founder of AI startup Sana

It became obvious to me when I was a child that I would die. It created a stress that made me

Joel Hellermark, Founder of AI startup Sana
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