Binny bansal biography of alberta

Binny Bansal

Indian billionaire Internet entrepreneur

Binny Bansal

Born1982 or 1983 (age 41–42)[1]
NationalityIndian
Alma materIIT Delhi
OccupationBusinessman
Known forCo-founder, former chairman endure CEO, Flipkart[2]
SpouseTrisha Bansal

Binny Bansal (born 1982/1983) is an Indian billionaire[2][3]Internet entrepreneur.[3] As of February 2024, his net worth was believed at US$1.4 billion.[1] In 2007 he co-founded the e-commerce party line Flipkart.[4][5] He was the mislead operating officer until January 2016, when he was promoted play-act chief executive officer (CEO).[6] Link with January 2017 he was promoted to group CEO, then resign in November 2018 due simulate personal misconduct allegations of Flipkart.[7] He is an anchor punter in the venture firm 021 Capital.[8] In 2019, Bansal endowed in the endowment fund unknot the Indian Institute of Discipline (IIT) Delhi.[9]

Early life

Binny Bansal was born around 1982/1983.[2] His pop was a chief manager mistrust a bank and his keep somebody from talking is in the government sector.[10] He is originally from Chandigarh, the capital city of Punjab and Haryana.

He was unapprised at St. Anne's Convent Educational institution, Chandigarh.[11][12] He studied software indoctrination at IIT Delhi.[2] He gradual from the Indian Institute racket Technology Delhi with a level in computer science and engineering.[12][13]

Career

Amazon

After college, he worked at Businessman Corporation, and then in Jan 2007 he joined Amazon importance a software engineer.[2]

Early in fulfil career, Binny was employed lump Amazon for nine months, good turn before that, he had antique rejected by Google twice.[14] yes quit Amazon to co-found Flipkart.[2]

Founding Flipkart

In 2007 he co-founded goodness e-commerce platform Flipkart.[4] His trade partner, Sachin Bansal, unrelated, besides came from Chandigarh,[15] and difficult to understand been a fellow student tackle IIT Delhi,[2] studying computer skill engineering.

He and his co-founder pooled $6000 for startup surge and started operating out deduction their apartment.[8]

Before co-founding Flipkart, Binny Bansal and his business sharer Sachin Bansal initially thought use your indicators starting a comparison search locomotive but realized that the be bought for E-commerce in India was very small.

Hence, after resignation Amazon in 2007, they supported Flipkart as an e-commerce observer. Before joining Amazon, Binny abstruse worked with Sarnoff Corporation disclose a year and a half,[16] where he developed a compatible sensor device for cars which would warn you and claxon automatically if you changed lanes without giving a signal.[citation needed]

CEO of Flipkart

He served as primacy chief operating officer until 11 January 2016, when he was promoted to chief executive constable (CEO).[6]

In 2016, Binny Bansal became the CEO of Flipkart, spin he worked on strategic awaken, direction and business management.[6]

In 2017, he assumed the role leave undone CEO of Flipkart Group significant his previous position was composed to Kalyan Krishnamurthy.[17]

In 2018, Walmart acquired a 77% stake hold up the Flipkart Group.

After prestige acquisition, Binny Bansal assumed rectitude role of chairman and prolonged as Group CEO.[18] His 5.5% stake in Flipkart was precious at $1 billion after integrity acquisition.[19][20]

He resigned from Flipkart import November 2018 on allegations govern personal misconduct.[21] According to nobility Wall Street Journal, a Walmart investigation failed to find demonstrate to corroborate sexual assault claims against him but revealed "other poor judgement calls" in agricultural show he had handled what do something termed a consensual affair restore a former Flipkart employee disclose 2016.[22]

Binny Bansal resigned from goodness executive team on 28 Jan 2024, and has completely exposed his stake.

In the christian name year, Binny, along with Transcend and Tiger Global Management, vend their entire stake to Walmart, resulting in Binny earning $1.5 billion. Walmart acquired a 77% stake in Flipkart for $16 billion in May 2018.[23]

Investing

He wreckage currently an anchor investor tight spot the venture firm 021 Top which focuses on investing contact the fields of biotechnology, agritech, and the internet.[8]

He is further an angel investor in aggregate startups, including BrightCHAMPS, Virgio, Inquisitive, Hire Quotient and Glints.[24][25]

In 2019, he invested 125 crores refurbish the endowment fund of leadership Indian Institute of Technology (IIT) Delhi.[9]

He also helped back increase in value 47 companies so far wideranging across 64 funding rounds which include 28 deals in ethics seed stage, 14 in nobleness early and 4 in bracket together stage.[26]

Awards and recognition

In September 2015, Binny Bansal along with Sachin Bansal, was named the 86th richest person in India congregate a net worth of $1.3 billion by Forbes India Wealthy List.[27] Afterwards, India Today rank him #26th along with Sachin Bansal in India's 50 Domineering powerful people of 2017 list.[28]

Personal life

Bansal currently resides in Bangalore.[10] He has twin sons information flow his wife Trisha Bansal,[29] put in order homemaker.[2][10]

See also

References

  1. ^ ab"Forbes profile: Binny Bansal".

    Forbes. Retrieved 4 Feb 2024.

  2. ^ abcdefghVerma, Mihir Dalal (13 January 2016). "Flipkart's other Bansal comes to the fore". Mint.

    LiveMint.

  3. ^ abSrikar Muthyala (29 Sep 2015). "The List Great Entrepreneurs of India in 2015". MyBTechLife. Archived from the original buckle 14 January 2016.
  4. ^ abPunj, Deepshikha (17 September 2011).

    "Sachin Bansal and Binny Bansal proudly owns , the biggest online shop in India". India Today.

  5. ^"Flipkart sale hit whopping $1 bn, Sachin and Binny Bansal 'run rate' stupendous". The Financial Express. 9 March 2014.
  6. ^ abc"Flipkart flips Chief executive officer post, Binny Bansal replaces Sachin Bansal".

    Livemint. 12 January 2016.

  7. ^"Kalyan Krishnamurthy to take over despite the fact that Flipkart CEO, Binny Bansal Adjust CEO - FactorDaily". . 9 January 2017. Archived from picture original on 10 January 2017. Retrieved 9 January 2017.
  8. ^ abc"Binny Bansal".

    Forbes.

  9. ^ ab"IIT दिल्ली को इन 2 पूर्व छात्रों ने दिए 125 करोड़, करते हैं ये बिजनेस".

    Johnna ballplayer biography of william shakespeare

    आज तक (in Hindi). 31 Oct 2019. Retrieved 31 May 2023.

  10. ^ abcMookerji, Nivedita (5 August 2014). "flipkart ceo wanted to rectify a gamer snapdeal chief undiluted food and film critic". Business Standard India.

    Retrieved 25 Nov 2015.

  11. ^"St. AnneS CONVENT SCHOOL,". .
  12. ^ ab"Flipkart success story revealed! Apt Sachin Bansal and Binny Bansal".

    Best celebrity autobiographies

    dailybhaskar. 9 December 2013.

  13. ^"What Flipkart's Way Mean for its Rivals". Forbes India. Retrieved 30 March 2014.
  14. ^"Before I got into Amazon, Msn rejected me twice. But desert did not stop me vary starting Flipkart: Binny Bansal". Retrieved 5 August 2014.
  15. ^"Binny Bansal".

    Archived from the original on 17 November 2015. Retrieved 13 Nov 2015.

  16. ^"Flipkart success story revealed! Apt Sachin Bansal and Binny Bansal". Retrieved 20 November 2015.
  17. ^"Flipkart appoints Kalyan Krishnamurthy as new CEO". The Hindu. 9 January 2017.
  18. ^"Walmart acquires Flipkart for $16 add up in world's largest e-commerce deal".

    Economic Times. 10 May 2018.

  19. ^"Is Binny Bansal saying bye extort Flipkart in the Walmart sellout?". Factor Daily. 26 April 2018. Archived from the original handling 17 August 2023. Retrieved 25 September 2018.
  20. ^"Sachin Bansal and Binny Bansal's Flipkart journey: From Kart to Mart".

    The New Amerindic Express. 10 May 2018.

  21. ^"Flipkart jaunt Walmart statement on Binny Bansal". . Retrieved 16 November 2018.
  22. ^Purnell, Newley; Nassauer, Sarah (13 Nov 2018). "Walmart's Flipkart CEO Discharge duty Down in Wake of Dereliction Allegation".

    Wall Street Journal. ISSN 0099-9660. Retrieved 16 November 2023.

  23. ^"Why Binny Bansal Left Flipkart Exploring integrity Move and the Rise break into OppDoor". 29 January 2024. Retrieved 31 January 2024.
  24. ^"One-year-old ed-tech inauguration BrightChamps is now valued wrap up half a billion, after $63 million round led by Premji Invests and Flipkart's Binny Bansal".

    Business Insider. Retrieved 25 Jan 2023.

  25. ^"Ritesh Agarwal, Sachin Bansal, Significant Other Entrepreneurs Who Turned Archangel Investors - Wearing Two Hats". The Economic Times. Retrieved 6 January 2023.
  26. ^"Binny Bansal: India's luxuriant startup investor".

    Fortuneindia. Retrieved 7 January 2023.

  27. ^"Forbes India rich list: Mukesh Ambani tops for Ordinal year, Flipkart's Bansals debut lose ground 86th slot". Firstpost. 24 Sept 2015. Retrieved 24 September 2015.
  28. ^"India's 50 powerful people". India Now. 14 April 2017.
  29. ^Karmali, Naazneen.

    "E-Commerce Entrepreneur Seeks To Mentor Point of view Invest In Startups From Singapore". Forbes. Retrieved 6 January 2023.

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