New Delhi: Flipkart co-founder Binny Bansal is reportedly planning a new startup in the burgeoning e-commerce space in India.
According to Money Control, Bansal recently sold his remaining stake in Flipkart and is now looking to create an e-commerce startup.
The report said, citing sources, that Bansal will not seek to raise external funds and would rather infuse his own capital in the new e-commerce startup.
Bansal received about $1-$1.5 billion from his shareholding in Flipkart.
Binny, along with Sachin Bansal, exited Flipkart after selling it to Walmart in 2018 for around $16 billion.
Binny has backed around 60 startups, like Acko, Ather Energy, Curefoods, Cultfit, BrightChamps, Unacademy, Yulu and others.
Last year, Binny Bansal sold his stake worth $264 million (more than Rs 2,000 crore) in the homegrown e-commerce platform to Chinese Internet giant Tencent.
Sachin and Binny Bansal, who received their B.Tech degree in computer science & engineering from IIT-D in 2005, built one of the largest e-commerce marketplaces in India.
Sachin led Flipkart as its CEO from its inception in 2007 till 2015 and took over as the Executive Chairman in 2016.
He is currently leading and mentoring the startup and internet ecosystem in India and is an angel investor in several technology startups.
Binny served as the CEO of Flipkart till January 2016 before being promoted as Chief Executive Officer. He exited Flipkart in November 2018 and became a prolific angel investor.
Last month, retail giant Walmart paid $1.4 billion to acquire VC from Tiger Global’s remaining shares in Flipkart.
According to a report in Wall Street Journal, Walmart has paid the money to boost Flipkart’s stake.
Walmart purchased Tiger Global’s remaining holding in Flipkart to further cement its control of the Indian e-commerce giant.
Tiger Global made an overall gain of $3.5 billion on an investment of $1.2 billion.
Flipkart was earlier valued at $37.6 billion in a 2021 funding round. Walmart had a 72 percent share in Flipkart as reported last.
Next Story:
-
No Change In Gold Prices In Hyderabad Today
The gold rates today stable in Hyderabad on 19 April, 2026. Going by the rates today, the price of 10 grams of 22-carat gold is Rs. 1,42,800 while the rate of 10 grams of 24-carat gold is at Rs 1,55,780.
-
Youth Commits Suicide Under suspicious circumstances
Suryapet / Hyderabad, April 18 (Maxim News): A young man died after hanging himself from a neem tree under suspicious circumstances on Saturday morning at Anantaram Adda Road in Penpahad Mandal of Suryapet district.
-
Private Bus Catches Fire In KPHB, Passengers Escape Unhurt
Hyderabad, April 18 (Maxim News) A major fire broke out in a private travel bus in the KPHB on Friday night, triggering panic among passengers. However, alert staff ensured that all 20 passengers were safely evacuated before the flames spread, averting a major tragedy.
-
Hyderabad: Father, 2-Year-Old Die in Road Accident
Hyderabad, April 15 (Maxim News): A horrific road accident took place on the Outer Ring Road in Hyderabad. A father and his two-and-a-half-year-old son died after being hit by a tanker that was watering trees.
-
Elder Brother Kills Younger Brother in Chaderghat
Hyderabad, April 15 (Maxim News): A brutal incident took place in the limits of Chaderghat police station in Hyderabad. An elder brother murdered his own younger brother. Geographic Reference
Now you can get the latest stories from Hydnow every day. Click the link to subscribe. Click to follow Hydnow’s Facebook page and Twitter and Instagram