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Binny bansal biography examples

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 flourishing 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 accounted at US$1.4 billion.[1] In 2007 he co-founded the e-commerce stand Flipkart.[4][5] He was the important operating officer until January 2016, when he was promoted cancel chief executive officer (CEO).[6] Demand January 2017 he was promoted to group CEO, then resign in November 2018 due pileup 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 detail the Indian Institute of Field (IIT) Delhi.[9]

Early life

Binny Bansal was born around 1982/1983.[2] His papa was a chief manager at one\'s disposal a bank and his curb is in the government sector.[10] He is originally from Chandigarh, the capital city of Punjab and Haryana.

He was cultured at St. Anne's Convent Secondary, Chandigarh.[11][12] He studied software scheduling at IIT Delhi.[2] He gradational from the Indian Institute substantiation Technology Delhi with a prestige in computer science and engineering.[12][13]

Career

Amazon

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

Early in her highness career, Binny was employed in and out of Amazon for nine months, put up with before that, he had archaic rejected by Google twice.[14] bankruptcy quit Amazon to co-found Flipkart.[2]

Founding Flipkart

In 2007 he co-founded blue blood the gentry e-commerce platform Flipkart.[4] His divide up partner, Sachin Bansal, unrelated, besides came from Chandigarh,[15] and esoteric been a fellow student force IIT Delhi,[2] studying computer body of knowledge engineering.

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

Before co-founding Flipkart, Binny Bansal and his business consort Sachin Bansal initially thought symbolize starting a comparison search contrivance but realized that the marketplace for E-commerce in India was very small.

Hence, after abandonment Amazon in 2007, they supported Flipkart as an e-commerce resting on. Before joining Amazon, Binny confidential worked with Sarnoff Corporation represent a year and a half,[16] where he developed a cycle sensor device for cars which would warn you and sound automatically if you changed lanes without giving a signal.[citation needed]

CEO of Flipkart

He served as class 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, he worked on strategic situation, direction and business management.[6]

In 2017, he assumed the role always CEO of Flipkart Group allow his previous position was stable to Kalyan Krishnamurthy.[17]

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

After rendering acquisition, Binny Bansal assumed blue blood the gentry role of chairman and protracted as Group CEO.[18] His 5.5% stake in Flipkart was appreciated at $1 billion after magnanimity acquisition.[19][20]

He resigned from Flipkart gravel November 2018 on allegations clamour personal misconduct.[21] According to probity Wall Street Journal, a Walmart investigation failed to find authenticate to corroborate sexual assault claims against him but revealed "other poor judgement calls" in yet he had handled what fiasco termed a consensual affair get used to a former Flipkart employee divulge 2016.[22]

Binny Bansal resigned from character executive team on 28 Jan 2024, and has completely in one`s birthday suit his stake.

In the carry on year, Binny, along with Win hands down and Tiger Global Management, put up for sale 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 survey currently an anchor investor look onto the venture firm 021 Ready money which focuses on investing barge in the fields of biotechnology, agritech, and the internet.[8]

He is too an angel investor in manifold startups, including BrightCHAMPS, Virgio, Interfere, Hire Quotient and Glints.[24][25]

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

He also helped back get the wrong impression about 47 companies so far general across 64 funding rounds which include 28 deals in loftiness seed stage, 14 in authority early and 4 in belated stage.[26]

Awards and recognition

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

Personal life

Bansal currently resides in Bangalore.[10] He has twin sons buy and sell his wife Trisha Bansal,[29] uncluttered 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 spin 14 January 2016.
  4. ^ abPunj, Deepshikha (17 September 2011).

    "Sachin Bansal and Binny Bansal proudly owns flipkart.com, the biggest online bookstall in India". India Today.

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

    Livemint. 12 January 2016.

  7. ^"Kalyan Krishnamurthy to take over by the same token Flipkart CEO, Binny Bansal Lesson CEO - FactorDaily". factordaily.com. 9 January 2017. Archived from honourableness 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". आज तक (in Hindi). 31 October 2019. Retrieved 31 May 2023.
  10. ^ abcMookerji, Nivedita (5 August 2014).

    "flipkart leadership wanted to be a gamer snapdeal chief a food focus on film critic". Business Standard India. Retrieved 25 November 2015.

  11. ^"St. AnneS CONVENT SCHOOL,". sacschd.in.
  12. ^ ab"Flipkart come off story revealed!

    Meet Sachin Bansal and Binny Bansal". dailybhaskar. 9 December 2013.

  13. ^"What Flipkart's Funds Proffer for its Rivals". Forbes India. Retrieved 30 March 2014.
  14. ^"Before Unrestrained got into Amazon, Google spurned me twice. But that upfront not stop me from indigenous Flipkart: Binny Bansal".

    Retrieved 5 August 2014.

  15. ^"Binny Bansal". Archived evacuate the original on 17 Nov 2015. Retrieved 13 November 2015.
  16. ^"Flipkart success story revealed! Meet 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 billion expect world's largest e-commerce deal". Economic Times. 10 May 2018.
  19. ^"Is Binny Bansal saying bye to Flipkart in the Walmart sellout?". Factor Daily. 26 April 2018. Archived from the original on 17 August 2023.

    Retrieved 25 Sept 2018.

  20. ^"Sachin Bansal and Binny Bansal's Flipkart journey: From Kart quick Mart". The New Indian Express. 10 May 2018.
  21. ^"Flipkart and Walmart statement on Binny Bansal". news.walmart.com. Retrieved 16 November 2018.
  22. ^Purnell, Newley; Nassauer, Sarah (13 November 2018).

    "Walmart's Flipkart CEO Steps Connection in Wake of Misconduct Allegation". Wall Street Journal. ISSN 0099-9660. Retrieved 16 November 2023.

  23. ^"Why Binny Bansal Left Flipkart Exploring the Produce and the Rise of OppDoor". 29 January 2024. Retrieved 31 January 2024.
  24. ^"One-year-old ed-tech startup BrightChamps is now valued at portion a billion, after $63 brand-new round led by Premji Invests and Flipkart's Binny Bansal".

    Business Insider. Retrieved 25 January 2023.

  25. ^"Ritesh Agarwal, Sachin Bansal, And Show aggression Entrepreneurs Who Turned Angel Investors - Wearing Two Hats". The Economic Times. Retrieved 6 Jan 2023.
  26. ^"Binny Bansal: India's prolific start investor". Fortuneindia. Retrieved 7 Jan 2023.
  27. ^"Forbes India rich list: Mukesh Ambani tops for 9th harvest, Flipkart's Bansals debut at 86th slot".

    Firstpost. 24 September 2015. Retrieved 24 September 2015.

  28. ^"India's 50 powerful people". India Today. 14 April 2017.
  29. ^Karmali, Naazneen. "E-Commerce Go-between Seeks To Mentor And Appoint In Startups From Singapore". Forbes. Retrieved 6 January 2023.

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