Co-Founder of Flipkart, Binny Bansal, Ventures into E-commerce Startup

Binny Bansal, co-founder of Flipkart, is reportedly venturing into India's thriving e-commerce landscape with a new startup. Recent reports indicate that Bansal, having divested his remaining stake in Flipkart, is now focused on establishing an e-commerce startup. Sources suggest that he intends to fund this venture using his personal capital rather than seeking external investments.

Binny Bansal has a track record of supporting approximately 60 startups, including notable names like Acko, Ather Energy, Curefoods, Cultfit, BrightChamps, Unacademy, and Yulu, among others. Last year, he sold his stake in Flipkart, amounting to $264 million (over Rs 2,000 crore), to the Chinese Internet giant Tencent.

Binny and Sachin Bansal, both B.Tech graduates in computer science & engineering from IIT-Delhi in 2005, played pivotal roles in establishing one of India's largest e-commerce marketplaces. Sachin served as the CEO of Flipkart from its inception in 2007 until 2015, subsequently becoming the Executive Chairman in 2016. Currently, Sachin is actively involved in leading and mentoring startups and the internet ecosystem in India, also investing as an angel investor in various technology startups.

Binny, on the other hand, was the CEO of Flipkart until January 2016 when he was promoted to Chief Executive Officer. He left Flipkart in November 2018 and transitioned into a prolific angel investor.

In recent news, Walmart acquired VC firm Tiger Global's remaining shares in Flipkart for a significant sum of $1.4 billion. This move was made to strengthen Walmart's control over the Indian e-commerce giant. In a 2021 funding round, Flipkart was valued at $37.6 billion, with Walmart already holding a 72 percent stake in the company.

This development signifies Binny Bansal's continued involvement in the dynamic world of Indian e-commerce and startups, highlighting his entrepreneurial spirit and commitment to the industry.