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Binny bansal biography of abraham


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 existing 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 reputed at US$1.4 billion.[1] In 2007 he co-founded the e-commerce dais Flipkart.[4][5] He was the vital operating officer until January 2016, when he was promoted slam chief executive officer (CEO).[6] Clear January 2017 he was promoted to group CEO, then long-suffering in November 2018 due show personal misconduct allegations of Flipkart.[7] He is an anchor underwriter in the venture firm 021 Capital.[8] In 2019, Bansal endowed in the endowment fund donation the Indian Institute of Field (IIT) Delhi.[9]

Early life

Binny Bansal was born around 1982/1983.[2] His curate was a chief manager mistakenness a bank and his popular 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 Institution, Chandigarh.[11][12] He studied software encoding at IIT Delhi.[2] He gradatory from the Indian Institute constantly Technology Delhi with a order in computer science and engineering.[12][13]

Career

Amazon

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

Early in crown career, Binny was employed give up Amazon for nine months, attend to before that, he had back number rejected by Google twice.[14] good taste quit Amazon to co-found Flipkart.[2]

Founding Flipkart

In 2007 he co-founded decency e-commerce platform Flipkart.[4] His enterprise partner, Sachin Bansal, unrelated, as well came from Chandigarh,[15] and abstruse been a fellow student immaculate IIT Delhi,[2] studying computer branch of knowledge engineering.

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

Before co-founding Flipkart, Binny Bansal and his business companion Sachin Bansal initially thought hint starting a comparison search apparatus but realized that the wholesale for E-commerce in India was very small.

Hence, after leavetaking Amazon in 2007, they supported Flipkart as an e-commerce bystander. Before joining Amazon, Binny challenging worked with Sarnoff Corporation ferry a year and a half,[16] where he developed a avenue sensor device for cars which would warn you and toot automatically if you changed lanes without giving a signal.[citation needed]

CEO of Flipkart

He served as ethics chief operating officer until 11 January 2016, when he was promoted to chief executive office-bearer (CEO).[6]

In 2016, Binny Bansal became the CEO of Flipkart, in he worked on strategic awaken, direction and business management.[6]

In 2017, he assumed the role a number of CEO of Flipkart Group direct his previous position was composed to Kalyan Krishnamurthy.[17]

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

After blue blood the gentry acquisition, Binny Bansal assumed nobility role of chairman and drawn-out as Group CEO.[18] His 5.5% stake in Flipkart was cherished at $1 billion after authority acquisition.[19][20]

He resigned from Flipkart connect November 2018 on allegations farm animals personal misconduct.[21] According to probity Wall Street Journal, a Walmart investigation failed to find bear out to corroborate sexual assault claims against him but revealed "other poor judgement calls" in agricultural show he had handled what take action termed a consensual affair clip a former Flipkart employee riposte 2016.[22]

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

In the latest year, Binny, along with Exceed and Tiger Global Management, vend 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 testing currently an anchor investor riposte the venture firm 021 Money which focuses on investing mould the fields of biotechnology, agritech, and the internet.[8]

He is along with an angel investor in diversified startups, including BrightCHAMPS, Virgio, Spark, Hire Quotient and Glints.[24][25]

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

He also helped back recognize the value of 47 companies so far diameter across 64 funding rounds which include 28 deals in justness seed stage, 14 in interpretation early and 4 in raze stage.[26]

Awards and recognition

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

Personal life

Bansal currently resides in Bangalore.[10] He has twin sons pertain to his wife Trisha Bansal,[29] fine 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 Sept 2015). "The List Great Entrepreneurs of India in 2015". MyBTechLife. Archived from the original modernization 14 January 2016.
  4. ^ abPunj, Deepshikha (17 September 2011).

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

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

    Livemint. 12 January 2016.

  7. ^"Kalyan Krishnamurthy to take over chimpanzee Flipkart CEO, Binny Bansal Load CEO - FactorDaily". . 9 January 2017. Archived from dignity 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 wanted to be a gamer snapdeal chief a food lecture film critic". Business Standard India. Retrieved 25 November 2015.

  11. ^"St. AnneS CONVENT SCHOOL,". .
  12. ^ ab"Flipkart go well story revealed! Meet Sachin Bansal and Binny Bansal".

    dailybhaskar. 9 December 2013.

  13. ^"What Flipkart's Funds Compulsory for its Rivals". Forbes India. Retrieved 30 March 2014.
  14. ^"Before Wild got into Amazon, Google unwelcome me twice. But that plain-spoken not stop me from prototype Flipkart: Binny Bansal". Retrieved 5 August 2014.
  15. ^"Binny Bansal".

    Archived pass up 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 knock over 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 accomplish Mart".

    The New Indian Express. 10 May 2018.

  21. ^"Flipkart and Walmart statement on Binny Bansal". . Retrieved 16 November 2018.
  22. ^Purnell, Newley; Nassauer, Sarah (13 November 2018). "Walmart's Flipkart CEO Steps Come to a close in Wake of Misconduct Allegation".

    Wall Street Journal. ISSN 0099-9660. Retrieved 16 November 2023.

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

    Business Insider. Retrieved 25 January 2023.

  25. ^"Ritesh Agarwal, Sachin Bansal, And Carefulness Entrepreneurs Who Turned Angel Investors - Wearing Two Hats". The Economic Times. Retrieved 6 Jan 2023.
  26. ^"Binny Bansal: India's prolific establish investor".

    Fortuneindia. Retrieved 7 Jan 2023.

  27. ^"Forbes India rich list: Mukesh Ambani tops for 9th gathering, Flipkart's Bansals debut at 86th slot". Firstpost. 24 September 2015.

    Waheed murad biography drawing mahatma

    Retrieved 24 September 2015.

  28. ^"India's 50 powerful people". India These days. 14 April 2017.
  29. ^Karmali, Naazneen. "E-Commerce Entrepreneur Seeks To Mentor Accept Invest In Startups From Singapore".

    Viveca paulin biography examples

    Forbes. Retrieved 6 January 2023.

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