Success Story of flipkart Co-founder Sachin Bansal

Success Story of flipkart Co-founder Sachin Bansal

Who is a sachin bansal

 Born : 5-august-1981

 Wife : priya bansal

Profession : entrepreneur and co-founder of sachin bansal

Birth place : chandigarh

Current value:120 crore USD

Sachin Bansal, the co-founder of Flipkart sold his 5.5% stake in the company and left it in May 2019 after the e-commerce giant of India was acquired by Walmart, the world’s largest retailer.

Sachin studies and found a flipkart

Sachin and Binny studied at the same school. They were born and brought up in Chandigarh, Punjab. Despite sharing their school with each other, they were never friends during their school days. Both of them graduated from IIT Delhi and only there at the college they got to know each other.

Sachin Bansal worked for Amazon in 2006. Binny Bansal joined the company in 2007. Later they came together to create Flipkart in 2007.

Sachin bansal Founded  flipkart

Sachin Bansal founded Flipkart in 2007 along with his partner Binny Bansal. In the initial stages, the ecommerce firm sold books online gradually expanding its operations into other domains. Today Flipkart has become one of the top ecommerce businesses in India.

Flipkart deals with several companies

In some strategic deals, Flipkart acquired some well performing ecommerce businesses like Myntra, Jabong and PhonePe.

Sachin faces many problems in early stage

Sachin Bansal would later recollect in his life when Flipkart operated from a rented office costing them Rs.8,000 per month. He said the company during the starting years did not have any power backup; they had to suffer the extremities of climate without AC or even windows to the building they had rented out for their ecommerce operations.

Flipkart introduce the big billion days

Flipkart Big Billion Days Sale 2021 Will Be return this year Around October to November With offer some of the best year-end deals on Mobiles, Laptops, Electronics, Fashion & millions of other products available across Flipkart. … Amazon great Indian Festival sale 2021 will also return during the same period.

Sachin bansal is a sociable person

Sachin Bansal is a highly sociable personality and loves gaming to the core. Sachin’s addiction to gaming was so intense that he wanted to give up his engineering course to find a career in gaming. During his early life, Sachin Bansal was highly passionate about playing games like Age of Empires and Quake III Arena.

Sachin bansal exit from the flipkart

Sachin exited Flipkart along with the Walmart deal in 2018. During his exit, he had 5.5% stake in the company, which he sold to Walmart. During that time, his net worth was more than $1 billion.

During his exit from Flipkart, Sachin Bansal said he would focus on some personal projects that were long pending. He also said he wished to give himself to gaming and to brush up his coding skills.

Sachin Bansal is a step closer to realising his banking dreams

Sachin bansal
Sachin bansal

Bansal, who co-founded Navi technologies with Ankit Agarwal after leaving Flipkart, wants to build a financial services platform that offers loans, insurance, and mutual funds. He also plans to partner with existing players in the payments space.

“Our mission is to simplify financial services for a billion users and make it accessible for them, by creating a bank for a billion users. Basically the cost of operations is really high for this segment and it passes on to customers. Our focus is the middle income group, the top 50 million is well served by banks. And in spite of having the means, the next 100 million which isn’t the high income group, don’t get the attention of the banks,” said Bansal.

Sachin is a  investor

Hailing an Ola

Last year Sachin Bansal invested Rs 650 crore in ride-hailing company Ola, making it the largest personal investment in the domestic internet sector. This constituted more than 10% of his personal wealth garnered from the $16-billion Walmart-Flipkart deal. He now has a 2% stake in Ola. This was a part of Ola’s Series J funding round.

Betting on Vogo, Bounce

In March last year Sachin Bansal had put $3 million each in dockless scooter sharing startups Vogo and Bounce. Both the firms allow users to pick up scooters from designated pickup points, and drop them at any other designated point at the end of the ride.

Ather Energy: His earliest investment

In 2014 Sachin Bansal had invested $0.5 million in Ather Energy. This was one of his earliest startup investments as an angel investor in 2014.

Quotes told by sachin bansal

“‘No’ is a very difficult word,But a ‘no’ which makes your business and customer say ‘yes’ is worth the while.”

“As a startup, you must go after the money that understands the business.”

“Don’t start alone, it helps to have a co-founder.

“Perseverance and hard work are very important.”

“Success has a thousand fathers but failure only belongs to the founders.”

“constantly pull yourselves out of the minute details”.

“Whatever you do in your personal life will have a huge impact on your business.

“Strategic alignment with funding partners is very important”.

People don’t realise how difficult this is. There is no rule; there is no job-description for a cofounder. It all depends on personalities. The basic requirements are patience, respect and understanding.

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