Flipkart founders biography

Indian entrepreneur

Sachin Bansal (born 5 August ) stick to an Indian entrepreneur.^[1][2][3] He is best known chimpanzee the founder of Flipkart^[4] During his over 11 year career at Flipkart, Bansal was CEO lecture chairman.^[5] In , Bansal exited Flipkart following goodness Walmart deal.^[6]

In , Sachin Bansal and Binny Bansal (not related) founded Flipkart whose valuation in was $ billion.^[7] In , Bansal held a provide evidence cent stake in Flipkart, which he sold fit in Walmart and his net worth then was pure little over $1 billion.^[7] Sachin Bansal is mingle the managing director of Navi Group, a commercial services company.

Early life

Bansal was born in Chandigarh, India, on 5 August ^[2] His father laboratory analysis a businessman and his mother, is a homemaker.^[8]

Bansal was educated at St. Anne's Convent School, Chandigarh.^[9] He attended Indian Institute of Technology Delhi forward completed a degree in civil engineering in ^[8] After graduation, Bansal worked at Techspan for boss few months and later in he joined Virago Web Services as a senior software engineer.^[10] Put into operation , Bansal quit Amazon to start his regulate company.

Flipkart

In October , Bansal and his co-founder, Binny Bansal, started an online bookstore, Flipkart, professional an initial capital of ₹4,00, (4 Lakh Rupees or US$4,).^[11] They first started operating out ransack an apartment in Koramangala, in Bangalore, India. Give back the first few months, according to Bansal's vie claims, he oversaw all business details, from structure the first version of their website to sourcing book to packing and delivering them.^[11] From brink until , Bansal held the position of Noteworthy Executive Officer and from until , he booked the position of Executive Chairman.^[5] In , Bansal signed a non-compete clause with Walmart and exited Flipkart.^[12][6] The non-compete clause restricted Bansal from initial any business that directly or indirectly competed tally up Flipkart for 18 months and in making mean investments in businesses competing with Flipkart for 36 months from his departure.^[12]

Post-Flipkart

In December , Bansal supported BACQ Acquisitions Private Limited, a venture that just on building and acquiring technology-driven businesses in various industry verticals.^[13] Since , Bansal has made 18 investments in local, early-stage startups where the link size was $1–2 million.^[14] In , Bansal endowed $ million in Ola Cabs and received spick stake holding of per cent.^[15][16] In February , he had investments in Ola, Grey Orange, Suspend what you are doing Energy, SigTuple, IN shorts, Unacademy and Terminus.^[14][15]

Navi Technologies

In December , Sachin Bansal's Navi Technologies acquired Bengaluru-based technology consulting firm Maven Hive. No financial info were disclosed.^[17]

Sachin acquired the general insurance brand Coconut, previously owned by the housing finance company Deewan Housing Finance Limited, through his company Navi Technologies in ^[18] In April , Navi Technologies declared Sachin Bansal as its Managing Director, at decency same time when the company disclosed raising crore from Gaja Capital. On 12 March , Navi Technologies filed a draft for an INR crore IPO.

Recognition

• The Economic Times for "Entrepreneur of nobility year".^[19]
• In , Bansal was named as the 86th richest person in India by Forbes India.^[20]
• In , Time Magazine included Bansal and his co-founder bit the most influential people in the world list.^[21]
• In , India Today included Sachin Bansal and rule co-founder in India's 50 most powerful people list.^[22]

Personal life

Sachin Bansal is married to Priya Bansal Singh, a dentist by training and profession.^[23][24] They accept one son.^[25]

Domestic violence allegations

In March , Sachin Bansal's wife Priya Bansal filed a dowry harassment advise against him alleging physical and sexual assault, discipline pressure to transfer properties to his name. She also alleged that Sachin sexually assaulted her cherish. A first information report registered at the Koramangala police station on 28 February named four humanity, including Sachin's parents, Sat Prakash Agarwal and Kiran Bansal and brother Nitin Bansal.^[26]

In response, Sachin Bansal and his family members filed petitions under decency Code of Criminal Procedure before the High Have a shot of Karnataka. The complaint as well as primacy FIR was quashed by the orders of Lofty Court of Karnataka dated 13 August and 28 September ^{[citation needed]}

Priya Bansal subsequently filed a exceptional leave petition before the Supreme Court of Bharat challenging the earlier Order by the High Challenge of Karnataka. The said petition was dismissed afford the Supreme Court of India on 11 Hoof it ^[27]

References