Sachin Bansal is an Indian entrepreneur. He is best known as the co-founder of Flipkart, which was acquired by Walmart at $16 billion in 2018. During his over 11 year career at Flipkart, Bansal was CEO and chairman. In 2018, Bansal exited Flipkart following the Walmart deal.
Many people think that the co-founders of Flipkart – Sachin Bansal and Binny Bansal – are brothers. However, in reality, the two are not even distantly related, though they were classmates at IIT Delhi and fellow employees at Amazon. After having graduated with a B.Tech degree in Computer Science from IIT, Delhi, Sachin briefly worked for a firm, named Techspan. He then joined Amazon India as a senior software engineer and even helped his friend, Binny Bansal, find a job in the same company.
After serving six months with the company, the ‘Bansals’ decided to start their own business venture. Initially, they thought of designing and developing a price-comparison website that would help customers compare the prices of the products listed on different e-commerce companies. However, since at the time India was quite far from the concept of online shopping, the two couldn’t even find websites that sold the same products, which they could compare. As a result, the duo, with a combined investment of INR 5 lakh, decided to open an online bookstore – Flipkart. Notably, Flipkart is the first e-commerce company in India to offer “Cash on Delivery”.
Although the two are partners with a similar approach to business, they are completely the opposite in terms of temperament, according to Flipkart employees. While Binny is an easy-to-get-along, calm person, Sachin is infamous for his hot-headedness. When the two began operations in 2007 in Bangalore, they would themselves pack and deliver books on their scooters. He served as the CEO of the company for around 9 consecutive years (Aug 2007-Jan 2016), before co-founder Binny Bansal took charge of the post. With a net worth of around $1.3 billion, Sachin, along with Binny Bansal, was named the 86th richest person in the country by Forbes in 2015. Sachin was bestowed with the Economic Times “Entrepreneur of the Year” Award in 2012. In 2016, Sachin and Binny Bansal were named among the 100 most influential people by TIME. The duo of Sachin and Binny Bansal was ranked #26 on India Today’s 50 Most Powerful People of 2017 list.
Sachin Bansal Bio[table “” not found /]