Who is Sachin Bansal, the man who started Flipkart but sold it to Walmart
Sachin Bansal, the poster boy of India's e-commerce revolution, had once said he will never sell Flipkart, but guess he got an offer he just could not refuse! It so happened that he has now exited the business by selling his entire stake in Flipkart. The deal with Walmart to sell Flipkart was worth $16 bn and it valued the e-retailer at $21 bn. Let's take a look at his Flipkart journey:
Sachin comes from a business family. Born and raised in Chandigarh, Bansal graduated from IIT Delhi in 2003. (Source: Reuters)
In 2006, Sachin Bansal joined Amazon.com as a senior software engineer. He met Binny there again. (Image source: PTI)
Sachin Bansal, started operations of Flipkart in August 2007 and was joined by Binny Bansal about a month later. (Image source: PTI)
Sachin Bansal and Binny Bansal started Flipkart by selling books online and even delivered the same themselves as they also offered 'cash-on-delivery' facility.
Sachin Bansal had quit as Flipkart CEO due to performance related issues in January 2016 . Binny took over from him.
Sachin Bansal is selling his entire Flipkart stake of over 5 per cent for around Rs 7,000 crore. Sachin Bansal's stake's worth was valued at $1 billion as on Wednesday and he has become a billionaire, again. He was a billionaire before, but regressed when Flipkart valuation had tumbled.
Sachin Bansal says he plans to catch up on gaming and brush up his coding skills as he takes time off to finish few pending personal projects.