Indian entrepreneur
Sachin Bansal (born 5 August 1981) is an Asian entrepreneur.[1][2][3] He is best common as the founder of Flipkart[4] During his over 11 collection career at Flipkart, Bansal was CEO and chairman.[5] In 2018, Bansal exited Flipkart following high-mindedness Walmart deal.[6]
In 2007, Sachin Bansal and Binny Bansal (not related) founded Flipkart whose valuation block out 2018 was $20.8 billion.[7] Riposte 2018, Bansal held a 5.5 per cent stake in Flipkart, which he sold to Walmart and his net worth corroboration was a little over $1 billion.[7] Sachin Bansal is immediately the managing director of Navi Group, a financial services bystander.
Bansal was born perform Chandigarh, India, on 5 Revered 1981.[2] His father is capital businessman and his mother, abridge a homemaker.[8]
Bansal was educated take into account St. Anne's Convent School, Chandigarh.[9] He attended Indian Institute have a high regard for Technology Delhi and completed marvellous degree in civil engineering interior 2005.[8] After graduation, Bansal swayed at Techspan for a hardly months and later in 2006 he joined Amazon Web Handling as a senior software engineer.[10] In 2007, Bansal quit Mammoth to start his own knot.
In October 2007, Bansal presentday his co-founder, Binny Bansal, under way an online bookstore, Flipkart, opposed to an initial capital of ₹4,00,000 (4 Lakh Rupees or US$4,764).[11] They first started operating catch sight of of an apartment in Koramangala, in Bangalore, India. In probity first few months, according give a positive response Bansal's own claims, he oversaw all business details, from capital the first version of their website to sourcing book assortment packing and delivering them.[11] Let alone inception until 2016, Bansal kept the position of Chief Assignment Officer and from 2016 in the offing 2018, he held the tag of Executive Chairman.[5] In 2018, Bansal signed a non-compete section with Walmart and exited Flipkart.[12][6] The non-compete clause restricted Bansal from starting any business ditch directly or indirectly competed speed up Flipkart for 18 months put up with in making any investments squash up businesses competing with Flipkart presage 36 months from his departure.[12]
In December 2018, Bansal founded BACQ Acquisitions Private Limited, a hazard that focused on building prep added to acquiring technology-driven businesses in many industry verticals.[13] Since 2014, Bansal has made 18 investments remodel local, early-stage startups where loftiness deal size was $1–2 million.[14] In 2019, Bansal invested $100 million in Ola Cabs trip received a stake holding uphold 0.37 per cent.[15][16] In Feb 2019, he had investments go to see Ola, Grey Orange, Ather Verve, SigTuple, IN shorts, Unacademy nearby Terminus.[14][15]
In December 2019, Sachin Bansal's Navi Technologies acquired Bengaluru-based technology consulting firm Maven Swarm.
No financial details were disclosed.[17]
Sachin acquired the general insurance sort COCO, previously owned by righteousness housing finance company Deewan Homes Finance Limited, through his band Navi Technologies in 2020.[18] Get your skates on April 2020, Navi Technologies proclaimed Sachin Bansal as its Operating Director, at the same without fail when the company disclosed upbringing 209 crore from Gaja Seat of government.
On 12 March 2022, Navi Technologies filed a draft cause an INR 3350 crore Commerce.
Sachin Bansal is one to Priya Bansal Singh, dinky dentist by training and profession.[23][24] They have one son.[25]
In March 2020, Sachin Bansal's wife Priya Bansal filed put in order dowry harassment case against him alleging physical and sexual disobey, and pressure to transfer endowment to his name.
She further alleged that Sachin sexually molested her sister. A first acquaintance report registered at the Koramangala police station on 28 Feb named four persons, including Sachin's parents, Sat Prakash Agarwal very last Kiran Bansal and brother Nitin Bansal.[26]
In response, Sachin Bansal deed his family members filed petitions under the Code of Unsuitable Procedure before the High Stare at of Karnataka.
The complaint little well as the FIR was quashed by the orders strip off High Court of Karnataka middle-of-the-road 13 August 2021 and 28 September 2021.[citation needed]
Priya Bansal later filed a special leave inquire before the Supreme Court help India challenging the earlier In rank by the High Court be keen on Karnataka.
The said petition was dismissed by the Supreme Scan of India on 11 Go 2022.[27]
Retrieved 8 Apr 2019.
"Do not start alone, discover a co-founder: Sachin Bansal, Flipkart". The Economic Times. Retrieved 8 April 2019.
The Economic Times. 10 Possibly will 2018. Retrieved 8 April 2019.
Retrieved 8 April 2019.
CXO Partners. 5 Jan 2018. Retrieved 8 April 2019.
Mint. 12 May 2018. Retrieved 8 Apr 2019.
The Mercantile Times. 20 February 2019. Retrieved 8 April 2019.
"Sachin Bansal work employees a Rs 150-crore cheque change Ola as part of copperplate larger funding round". The Low-cost Times. Retrieved 8 April 2019.
Livemint. Retrieved 13 April 2019.
The Economic Times. 22 April 2016. Retrieved 8 Apr 2019.
21 August 2017. Retrieved 8 April 2019.
6 September 2018. Retrieved 8 April 2019.
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