Flipkart co-founder Binny Bansal ousted from the board, said this after leaving the company
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New Delhi (Uttam Hindu News): Flipkart co-founder Binny Bansal has officially stepped down from the board of the e-commerce platform after more than 16 years. The other co-founder Sachin Bansal left the board in 2018. After leaving Flipkart, Sachin founded financial services firm Navi. Binny said in a statement, Flipkart is in a strong position with a strong leadership team and a clear path forward, and with this confidence, I have decided to leave 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 will remain a strong supporter of the business.” Flipkart Group CEO Kalyan Krishnamurthy said in a statement on Saturday that the company is the result of a brilliant idea and hard work, built by teams committed to changing the way India shops. “We wish Binny all the best for his next venture and thank him for the profound impact he has had on the Indian retail ecosystem.
Earlier this month, Binny announced a new venture called ‘Oppdoor’ that will help e-commerce companies expand operations globally by providing end-to-end solutions. According to reports, Oppdoor will initially focus on e-commerce companies in the US, Canada, Mexico, UK, Germany, Singapore, Japan, and Australia. Last year, Bansal sold his remaining stake in Flipkart and received around $1-1.5 billion from his stake in Flipkart. Binny, along with Sachin Bansal, exited Flipkart in 2018 after selling it to Walmart for about $16 billion. Binny has backed around 60 startups like Eko, Ather Energy, CureFoods, CultFit, BrightChamps, Unacademy, Yulu and others.
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