Binny bansal biography of mahatma gandhi

Binny Bansal

Indian billionaire Internet entrepreneur

Binny Bansal

Born or (age&#;41–42)[1]
NationalityIndian
Alma&#;materIIT Delhi
OccupationBusinessman
Known&#;forCo-founder, former chairman and CEO, Flipkart[2]
SpouseTrisha Bansal

Binny Bansal (born /) is an Indian billionaire[2][3]Internet entrepreneur.[3] As of February , his net worth was estimated at US$ billion.[1] In he co-founded the e-commerce platform Flipkart.[4][5] He was the chief operating officer until January , when he was promoted to chief executive officer (CEO).[6] In January he was promoted to group CEO, then resigned in November due to personal misconduct allegations of Flipkart.[7] He is an anchor investor in the venture firm Capital.[8] In , Bansal invested in the endowment fund of the Indian Institute of Technology (IIT) Delhi.[9]

Early life

Binny Bansal was born around /[2] His father was a chief manager at a bank and his mother is in the government sector.[10] He is originally from Chandigarh, the capital city of Punjab and Haryana.

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    • He was educated at St. Anne's Convent School, Chandigarh.[11][12] He studied software programming at IIT Delhi.[2] He graduated from the Indian Institute of Technology Delhi with a degree in computer science and engineering.[12][13]

    Career

    Amazon

    After college, he worked at Sarnoff Corporation, and then in January he joined Amazon as a software engineer.[2]

    Early in his career, Binny was employed by Amazon for nine months, and before that, he had been rejected by Google twice.[14] he quit Amazon to co-found Flipkart.[2]

    Founding Flipkart

    In he co-founded the e-commerce platform Flipkart.[4] His business partner, Sachin Bansal, unrelated, also came from Chandigarh,[15] and had been a fellow student at IIT Delhi,[2] studying computer science engineering.

    He and his co-founder pooled $ for startup costs and started operating out of their apartment.[8]

    Before co-founding Flipkart, Binny Bansal and his business partner Sachin Bansal initially thought of starting a comparison search engine but realized that the market for E-commerce in India was very small. Hence, after leaving Amazon in , they founded Flipkart as an e-commerce company.

    Before joining Amazon, Binny had worked with Sarnoff Corporation for a year and a half,[16] where he developed a lane sensor device for cars which would warn you and beep automatically if you changed lanes without giving a signal.[citation needed]

    CEO of Flipkart

    He served as the chief operating officer until 11 January , when he was promoted to chief executive officer (CEO).[6]

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

    In , he assumed the role of CEO of Flipkart Group and his previous position was handed to Kalyan Krishnamurthy.[17]

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

    After the acquisition, Binny Bansal assumed the role of chairman and continued as Group CEO.[18] His % stake in Flipkart was valued at $1 billion after the acquisition.[19][20]

    He resigned from Flipkart in November on allegations of personal misconduct.[21] According to the Wall Street Journal, a Walmart investigation failed to find evidence to corroborate sexual assault claims against him but revealed "other poor judgement calls" in how he had handled what he termed a consensual affair with a former Flipkart employee in [22]

    Binny Bansal resigned from the executive team on 28 January , and has completely divested his stake.

    In the last year, Binny, along with Excel and Tiger Global Management, sold their entire stake to Walmart, resulting in Binny earning $ billion. Walmart acquired a 77% stake in Flipkart for $16 billion in May [23]

    Investing

    He is currently an anchor investor in the venture firm Capital which focuses on investing in the fields of biotechnology, agritech, and the internet.[8]

    He is also an angel investor in multiple startups, including BrightCHAMPS, Virgio, Flash, Hire Quotient and Glints.[24][25]

    In , he invested crores in the endowment fund of the Indian Institute of Technology (IIT) Delhi.[9]

    He also helped back about 47 companies so far spread across 64 funding rounds which include 28 deals in the seed stage, 14 in the early and 4 in late stage.[26]

    Awards and recognition

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

    Personal life

    Bansal currently resides in Bangalore.[10] He has twin sons with his wife Trisha Bansal,[29] a homemaker.[2][10]

    See also

    References

    1. ^ ab"Forbes profile: Binny Bansal".

      Forbes. Retrieved 4 February

    2. ^ abcdefghVerma, Mihir Dalal (13 January ). "Flipkart's other Bansal comes to the fore".

      Mint. LiveMint.

    3. ^ abSrikar Muthyala (29 September ). "The List Great Entrepreneurs of India in ". MyBTechLife. Archived from the original on 14 January
    4. ^ abPunj, Deepshikha (17 September ).

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

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

      Livemint. 12 January

    7. ^"Kalyan Krishnamurthy to take over as Flipkart CEO, Binny Bansal Group CEO - FactorDaily". .

      Binny bansal biography of mahatma gandhi for kids Copy Post Link Copy. Factor Daily. Archived from the original on 14 January Binny Bansal's Departure from Flipkart.

      9 January Archived from the original on 10 January Retrieved 9 January

    8. ^ abc"Binny Bansal". Forbes.
    9. ^ ab"IIT दिल्ली को इन 2 पूर्व छात्रों ने दिए करोड़, करते हैं ये बिजनेस".

      आज तक (in Hindi). 31 October Retrieved 31 May

    10. ^ abcMookerji, Nivedita (5 August ). "flipkart ceo wanted to be a gamer snapdeal chief a food and film critic". Business Standard India. Retrieved 25 November
    11. ^"St.

      AnneS CONVENT SCHOOL,".

      Binny bansal biography of mahatma gandhi in english Binny still owns shares in PhonePe and is its biggest individual minority shareholder. Retrieved 6 January This acquisition valued his 5. Binny Bansal's journey from a computer science engineering student to a pioneering entrepreneur has left an indelible mark on India's e-commerce industry.

      .

    12. ^ ab"Flipkart success story revealed! Meet Sachin Bansal and Binny Bansal". dailybhaskar. 9 December
    13. ^"What Flipkart's Funds Mean for its Rivals". Forbes India. Retrieved 30 March
    14. ^"Before I got into Amazon, Google rejected me twice.

      But that did not stop me from starting Flipkart: Binny Bansal". Retrieved 5 August

    15. ^"Binny Bansal". Archived from the original on 17 November Retrieved 13 November
    16. ^"Flipkart success story revealed! Meet Sachin Bansal and Binny Bansal". Retrieved 20 November
    17. ^"Flipkart appoints Kalyan Krishnamurthy as new CEO".

      The Hindu. 9 January

    18. ^"Walmart acquires Flipkart for $16 billion in world's largest e-commerce deal". Economic Times. 10 May
    19. ^"Is Binny Bansal saying bye to Flipkart in the Walmart sellout?".

      Binny bansal biography of mahatma gandhi To kickstart this venture, Bansal has assembled a team of 15 professionals, primarily consisting of artificial intelligence scientists, with plans to expand further in the near future. Contents move to sidebar hide. Retrieved 20 November Archived from the original on 14 January

      Factor Daily. 26 April Archived from the original on 17 August Retrieved 25 September

    20. ^"Sachin Bansal and Binny Bansal's Flipkart journey: From Kart to Mart". The New Indian Express. 10 May
    21. ^"Flipkart and Walmart statement on Binny Bansal". .

      Biography of mahatma gandhi hindi: This acknowledgment underscored their significant influence in shaping India's business landscape. Additionally, Bansal orchestrated the revival of Big Billion Days, a highly successful multi-day event exclusive to the Flipkart app. In July , Binny Bansal finalized the sale of his remaining 1. Article Talk.

      Retrieved 16 November

    22. ^Purnell, Newley; Nassauer, Sarah (13 November ). "Walmart's Flipkart CEO Steps Down in Wake of Misconduct Allegation". Wall Street Journal. ISSN&#; Retrieved 16 November
    23. ^"Why Binny Bansal Left Flipkart Exploring the Move and the Rise of OppDoor". 29 January Retrieved 31 January
    24. ^"One-year-old ed-tech startup BrightChamps is now valued at half a billion, after $63 million round led by Premji Invests and Flipkart's Binny Bansal".

      Business Insider.

      Biography of mahatma gandhi death CEO Profiles. Anchoring Capital. Leading Flipkart to New Heights Binny Bansal's journey at Flipkart was marked by relentless innovation and strategic leadership. Despite an early rejection from Google and a brief stint at Amazon lasting only nine months, Bansal decided to pursue his entrepreneurial dreams.

      Retrieved 25 January

    25. ^"Ritesh Agarwal, Sachin Bansal, And Other Entrepreneurs Who Turned Angel Investors - Wearing Two Hats". The Economic Times. Retrieved 6 January
    26. ^"Binny Bansal: India's prolific startup investor". Fortuneindia. Retrieved 7 January
    27. ^"Forbes India rich list: Mukesh Ambani tops for 9th year, Flipkart's Bansals debut at 86th slot".

    28. Binny Bansal Story - Bio, Facts, Home, Family, Net Worth ...
    29. Binny Bansal Age, Wife, Biography, Facts & More - StarsUnfolded
    30. Biography of Mahatma Gandhi: The Icon of Non-Violence and ...
    31. Binny Bansal: The Journey of a Visionary Indian Entrepreneur

      32. Firstpost. 24 September Retrieved 24 September

    32. ^"India's 50 powerful people". India Today. 14 April
    33. ^Karmali, Naazneen. "E-Commerce Entrepreneur Seeks To Mentor And Invest In Startups From Singapore". Forbes. Retrieved 6 January

    External links