Mumbai: Binny Bansal has moved away from plank Along with Flipkart, he officially ended his association with the internet firm he co-founded with fellow IIT Delhi alumnus Sachin Bansal in 2007. Flipkart which entered the then emerging local e-tail market launch An online bookstore became an e-commerce giant, attracting prestigious global investors and eventually being acquired by US retail giant Walmart in 2018.
“Flipkart is in a strong position, with a strong leadership team and a clear path forward, and with this confidence, I have decided to part ways with the company, knowing that the company is in capable hands. I wish the team all the best.” as they continue to transform the experience for customers, and I remain a strong supporter of the business,” Bansal said.
Bansal’s move to resign from Flipkart’s board comes amid his new launches start up Enterprise OppDoor. Based in Singapore, OppDoor aims to help e-commerce brands expand their businesses on online marketplaces like Amazon and Etsy in addition to leveraging better platforms to sell globally. In July last year, Bansal and some of Flipkart’s early investors including Tiger Global and Accel exited the company by selling their remaining stake to Walmart, increasing the company’s stake in the company to 80.5%. Bansal held about 1.8% stake in Flipkart at the time of the transaction.