Sachin Bansal & Binny Bansal
Flipkart
India’s largest e-commerce marketplace · Bengaluru, India
Portrait: Shahanadg / Wikimedia Commons, CC BY-SA 4.0
The founder
Sachin and Binny Bansal (no relation), both IIT Delhi computer science graduates and former Amazon India employees, founded Flipkart in October 2007 as an online bookstore, operating out of a Bengaluru apartment with roughly ₹400,000 in initial capital. It grew into India’s dominant e-commerce platform, going head-to-head with Amazon.
How it was sold
Walmart announced its acquisition of a 77% majority stake in Flipkart for $16 billion on May 9, 2018 — the largest e-commerce acquisition globally at the time and Walmart’s biggest-ever deal, valuing Flipkart at roughly $20.8 billion. Sachin Bansal sold his entire stake for about $1 billion and exited the company; Binny Bansal stayed on as CEO of the Flipkart Group before resigning later that year.
Sourced & verified
In the news
Coverage of the Flipkart deal from independent outlets — read the original reporting, not just our summary.
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