Jaynti Kanani who hails from Gujarat scripted a phenomenal rags-to-riches success story founding a company with valuation of over Rs 1 lakh crore in just 6 years.
Gujarat man Jaynti Kanani, who scripted a phenomenal rags-to-riches success story with leading blockchain company Polygon has decided to step down from his role. Kanani announced the big decision to move away from the direct workings of his co-founded firm with valuation of $20 billion (Rs 1,66,240 crore) has come as a surprise.
Factory worker’s son behind multi-crore giant
Kanani began life in poverty living in a small house on the margins of Ahmedabad where his father lived a life of financial struggle as a diamond factory worker. Despite the odds stacked against him, Kanani earned an engineering degree. His aim was life to land a decent job to ease the financial problems of his debt-ridden family. His ailing father losing his eyesight and ability to work led him to the search for better pay and into the startup ecosystem. He once worked for just Rs 6,000 monthly salary in Pune.
Kanani co-founded Polygon in 2017 with Sandeep Nailwal and Anurag Arjun. After becoming one of the major players in blockchain and cryptocurrency, Polygon bagged $450 million funding in 2022. They became famous startup entrepreneurs when they got celebrity investor and Shark Tank judge Mark Cuban to back their venture.
Kanani’s future away from Polygon
Kanani revealed that he had decided to “step back” around 6 months ago. Kanani further revealed that he would be “focusing on new adventures ventures while still cheering and contributing to Polygon from the sidelines”. He concluded by revealing the aim of creating a “Polygon 2.0”.
Kanani has stepped aside to focus on two new ventures that he started this year itself. These are a new web firm Mozak founded in April 2023 and content development startup Morphic in June 2023, as per his Linkedin profile.
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 "Meet man born in poverty, debt-ridden, built Rs 1,66,240 crore firm but stepped down to…")
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