Binny Bansal | Co-Founder Flipkart, Net worth, Age, education & Biography.

Binny Bansal is a well-known Indian entrepreneur and startup investor. He is widely recognized as the co-founder of Flipkart, one of the most successful e-commerce companies in India. With his strong vision and leadership skills, he has not only revolutionized the e-commerce industry but also become an inspiration for many young entrepreneurs in the country. Let's take a closer look at the life and career of Binny Bansal. 

Quick Info 

Full Name: Binny Bansal

Known for: Co-founding Flipkart, an e-commerce company in India

Age: As of 2023 he is 41 years old.

Wife: Trisha Bansal (m.2007) 

Children: Not publicly known.

College of Graduation: Indian Institute of Technology (IIT) Delhi, where he pursued a degree in computer engineering. 

Net Worth 

As of year 2023, Binny Bansal's net worth was estimated to be around $1.4 billion (140 crores USD), according to Forbes.

Early Life and Education

Binny Bansal was born on 6th August 1982 in Chandigarh, India. He completed his schooling from St. Anne's Convent School in Chandigarh and went on to pursue a degree in computer engineering from the Indian Institute of Technology (IIT) Delhi. During his college years, Binny showed an inclination towards technology and was actively involved in various coding and programming competitions.

Career Beginnings 

After completing his engineering degree, Binny joined Sarnoff Corporation, a research and development company based in New Jersey, USA. He worked there for a brief period as a software engineer before returning to India in 2007. Back in India, Binny joined Amazon, where he worked for a year as a senior software engineer. It was during his tenure at Amazon that he met his future business partner, Sachin Bansal (no relation), who was also working there.

Founding Flipkart

In 2007, Binny and Sachin quit their jobs at Amazon and decided to start their own company. They both shared a passion for e-commerce and saw a huge potential for online shopping in India. Thus, they launched Flipkart, an online bookstore, in 2007 with a modest investment of Rs. 4 lakhs. The duo started by delivering books from their apartment in Bangalore and gradually expanded their product range to include electronics, clothing, and other consumer goods.

Flipkart quickly gained popularity among Indian consumers due to its user-friendly website, wide product range, and fast delivery service. Over the next few years, the company raised millions of dollars in funding from investors such as Tiger Global, Naspers, and Accel Partners. By 2014, Flipkart had become the largest e-commerce company in India, with a market share of over 40%. 

Personal Life 

Binny Bansal married with Trisha Bansal in year 2007.

Achievements and Awards 

Under Binny's leadership, Flipkart achieved several milestones and earned numerous accolades. In 2012, Binny was named among the "35 Innovators Under 35" by MIT Technology Review India. The following year, he was recognized as the "Entrepreneur of the Year" at the Economic Times Awards for Corporate Excellence. In 2016, Binny was featured in the Forbes list of "100 Most Powerful People in the World."

Exit from Flipkart

In 2018, Binny resigned from his position as CEO of Flipkart following allegations of "serious personal misconduct." He denied the allegations, but the incident marked the end of his 11-year journey with the company. However, Binny continued to remain a significant shareholder in Flipkart, which was acquired by Walmart in 2018 for $16 billion.

Startup Investments

After leaving Flipkart, Binny started investing in startups through his new venture, xto10x Technologies. He has invested in several promising startups, including Acko General Insurance, Grey Orange Robotics, and Moglix. Binny also serves as a board member and mentor to many young entrepreneurs in India.

Conclusion

Binny Bansal's entrepreneurial journey is a true inspiration for aspiring entrepreneurs. With his strong determination, innovative ideas, and hard work, he not only co-founded India's largest e-commerce company but also left a lasting impact on the Indian startup ecosystem.