Bini Bansal Flipkart: The co-founder of Flipkart, Bini Bansal has recently resigned from Flipkart. He founded the e-commerce company 16 years ago with Sachin Bansal. Bini Bansal took this decision a few months after selling his shares in the e-commerce firm. Bini also has plans to open a new e-commerce venture again. Binny’s decision seems to be inspired by his fellow co-founder Sachin Bansal who stepped down from the company a few years ago and is now handling his own fintech company, Navi.
Bini Bansal Confirms…
“I am proud of the Flipkart Group’s achievements over the past 16 years. Flipkart is in a robust position, with a strong leadership team and a clear path forward, and with this confidence, I have decided to step aside, knowing the company is in capable hands. I wish the team the best as they continue to transform experiences for customers, and I remain a strong supporter of the business,” said Bansal in a statement.
Taking note of the importance of the development, Leigh Hopkins, Executive Vice President of International Strategy and Development and Regional CEO of Asia and Walmex and Flipkart Board Member said “As a founder of the business, Binny provides a unique combination of knowledge and experience. We have been fortunate to have him remain on the Board since Walmart’s investment in 2018, and we have greatly benefited from his counsel and insight.”
Kalyan Krishnamurthy, CEO and Flipkart Board Member, who has been running operations for years now said, “We are thankful for Binny’s partnership over the past several years, as the Flipkart Group has grown and entered new businesses. His insights and deep expertise of the business have been invaluable to the Board and company.”
Walmart Holds Majority of Flipkart’s Stake
In September, Walmart managed to acquire the remaining stakes of Flipkart from its backers Accel Partners, Binny Bansal and Tiger Global spending around USD 3.5 Billion,
Bini Plans to Open A New Venture
As per a report, the primary reason for Binny’s exit from Flipkart could be the conflict in managing his new e-commerce startup, OppoDoor. Reports suggest that the OppDoor will offer end-to-end e-commerce solutions.
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