Flipkart is India’s most successful internet startup valued at staggering $15 billion. This company was founded by Sachin Bansal and Binny Bansal in the year 2007 who also the latest entrants in the Forbes list of richest Indian Billionaires. Both Sachin and Binny are IIT, Delhi graduates and worked for Amazon for a while before taking a plunge into the world of entrepreneurship.
The Bansalsstarted their entrepreneurial journey with Rs.4, 00,000 for building a website and setting up the business. It was in the year 2009, they raised their first round of funding of $1 million from Accel partners followed by Tiger Global pumping in another $10 million in the year 2010 and $20 million in the following year. This e-commerce giant has raised a staggering $3.15 billion till now in 12 rounds. It ranks sixth and the only startup from India in world’s top 10 valued startups.
“Flipkart Founders – Sachin Bansal & Binny Bansal”
Sachin Bansal was given Entrepreneur of the year award in 2012-13 from Economic Times. Sachin also confessed in an interview that founding Flipkart with Binny was the most ridiculous thing he has ever done and even people around him thought that he was insane to leave a cushy job at amazon to start selling books online. Now, Flipkart sells everything on their platform such electronic good, clothes, books, etc. The Bansals have very different personalities and complement each other well. Binny is known to be more analytic and driven by logic while Sachin banks on his emotion and passion.
Flipkart has now firmly established itself as the top player in the ecommerce market in India and the acquisition of Myntra has given them the required edge over their fierce rival Amazon. With a target to reach GMV of $8 billion and to sell 25 million products every month by the end of this year. We wish Flipkart all the best which has all the ingredients required to be $100 billion dollar company.