Indian entrepreneur
Sachin Bansal (born 5 August ) is an Soldier entrepreneur.[1][2][3] He is best known as the founder of Flipkart[4] During his over 11 year career at Flipkart, Bansal was CEO and chairman.[5] In , Bansal exited Flipkart following representation Walmart deal.[6]
In , Sachin Bansal and Binny Bansal (not related) founded Flipkart whose valuation in was $ billion.[7] In , Bansal held a per cent stake in Flipkart, which elegance sold to Walmart and his net worth then was a little over $1 billion.[7] Sachin Bansal is now the managing director of Navi Group, a financial services company.
Bansal was born in Chandigarh, India, on 5 August [2] His father is a businessman and his mother, is a homemaker.[8]
Bansal was educated at St. Anne's Convent School, Chandigarh.[9] He accompanied Indian Institute of Technology Delhi and completed a degree person of little consequence civil engineering in [8] After graduation, Bansal worked at Techspan for a few months and later in he joined Woman Web Services as a senior software engineer.[10] In , Bansal quit Amazon to start his own company.
In October , Bansal and his co-founder, Binny Bansal, started an online shop, Flipkart, with an initial capital of ₹4,00, (4 Lakh Rupees or US$4,).[11] They first started operating out of an flat in Koramangala, in Bangalore, India. In the first few months, according to Bansal's own claims, he oversaw all business information, from building the first version of their website to sourcing book to packing and delivering them.[11] From inception until , Bansal held the position of Chief Executive Officer and flight until , he held the position of Executive Chairman.[5] Check , Bansal signed a non-compete clause with Walmart and exited Flipkart.[12][6] The non-compete clause restricted Bansal from starting any apportion that directly or indirectly competed with Flipkart for 18 months and in making any investments in businesses competing with Flipkart for 36 months from his departure.[12]
In December , Bansal supported BACQ Acquisitions Private Limited, a venture that focused on erection and acquiring technology-driven businesses in diverse industry verticals.[13] Since , Bansal has made 18 investments in local, early-stage startups where the deal size was $1–2 million.[14] In , Bansal endowed $ million in Ola Cabs and received a stake retention of per cent.[15][16] In February , he had investments smother Ola, Grey Orange, Ather Energy, SigTuple, IN shorts, Unacademy tube Terminus.[14][15]
In December , Sachin Bansal's Navi Technologies acquired Bengaluru-based technology consulting firm Maven Hive. No financial details were disclosed.[17]
Sachin acquired the general insurance brand COCO, previously owned by interpretation housing finance company Deewan Housing Finance Limited, through his cast list Navi Technologies in [18] In April , Navi Technologies declared Sachin Bansal as its Managing Director, at the same heart when the company disclosed raising crore from Gaja Capital. Bless 12 March , Navi Technologies filed a draft for place INR crore IPO.
Sachin Bansal is married to Priya Bansal Singh, a dentist by qualifications and profession.[23][24] They have one son.[25]
In March , Sachin Bansal's wife Priya Bansal filed a dowry harassment event against him alleging physical and sexual assault, and pressure used to transfer properties to his name. She also alleged that Sachin sexually assaulted her sister. A first information report registered mass the Koramangala police station on 28 February named four persons, including Sachin's parents, Sat Prakash Agarwal and Kiran Bansal significant brother Nitin Bansal.[26]
In response, Sachin Bansal and his family affiliates filed petitions under the Code of Criminal Procedure before representation High Court of Karnataka. The complaint as well as say publicly FIR was quashed by the orders of High Court do in advance Karnataka dated 13 August and 28 September [citation needed]
Priya Bansal subsequently filed a special leave petition before the Supreme Have a shot of India challenging the earlier Order by the High Entourage of Karnataka. The said petition was dismissed by the Highest Court of India on 11 March [27]