A joint venture between Sachin Bansal and Binny Bansal, Flipkart was founded in October 2007. A Singapore-incorporated private limited company, Flipkart is an Indian e-commerce company headquartered in Bangalore.

It is possible to shop on e-commerce websites around the clock, 365 days a year, unlike in physical stores. It makes your company's products and services more accessible to customers because you're always available. The number of people purchasing online has increased dramatically over the past few years in India, where there are over 570 million internet users.

Over 80 million products are available in 80 categories on Flipkart, India's largest e-commerce site, with over 100 million customers and over 80 million products. Flipkart began as a two-man project to create the most reliable online shopping platform in India. Forbes India Rich List was recognized for the first time in 2015. India's 86th wealthiest people are Binny Bansal and Sachin Bansal.

A mix of newly issued debt and cash will be used to finance Walmart's round of financing. The corporation has received a total of $2 billion in new equity investment. They added that the branding and organisational frameworks of both organisations would be preserved.

About Sachin Bansal

Sachin Bansal is an Indian businessman who was born on August 5, 1981. His most famous accomplishment is founding Flipkart. Bansal served as chairman and CEO of Flipkart for more than 11 years. Bansal left Flipkart in 2018 after the Walmart acquisition.

Flipkart was created in 2007 by Sachin and Binny Bansal, who are unrelated. Flipkart was valued at $20.8 billion in 2018. Bansal had a net worth of little over $1 billion in 2018 when he sold a 5.5 percent interest in Flipkart to Walmart.

Bansal declared in May 2018 that he will stop serving as executive chairman of Flipkart and instead devote his time on unfinished personal projects, video games, and improving his coding abilities. Currently, Navi Group's managing director is Sachin Bansal. Navi is a financial services company.

Early Life

On August 5, 1981, Sachin Bansal was born in Chandigarh, India. His mother is a hometaker while his father runs a business. Sachin Bansal graduated with a degree in computer engineering in 2005 after attending the Indian Institute of Technology in Delhi. Following his graduation, Sachin Bansal worked for Techspan for a short while before joining Amazon Web Services as a senior software engineer in 2006.

Sachin Bansal left Amazon in 2007 to launch his own business. In addition to Sachin Bansal and Binny Bansal, there are two other IITans. A shopping app called Flipkart was founded by them.

In its early years, Flipkart's primary focus was online book sales. In addition to music, mobile phones, and movies, the platform began selling other products. Over the last few years, Flipkart has steadily expanded its product line by complementing various new categories with the rapidly changing world of e-commerce and gaining momentum in India.

The platform promotes its products through social media platforms like Twitter, Youtube, and Instagram. Business-to-consumer companies offer their users the option of choosing from a wide selection of sellers and items. In addition to their Bangalore center, Flipkart has also opened branches in Mumbai and Delhi. During 2017, the company acquired the e-commerce company eBay as well as the payment site PhonePal.

Flipkart's acquisition by Walmart was undoubtedly its most transformative moment. Since its launch in 2007, the platform has experienced tremendous growth and development, inspiring the creation of other entrepreneurs throughout the nation.

A $1.2 billion round of financing announced by Flipkart in July includes $560.45 million from Walmart.

NAVI Technologies

Maven Hive, a Bengaluru-based provider of technology consulting services, was purchased by Sachin Bansal's Navi Technologies in December 2019. Financial information was kept private. In 2020, Sachin bought the general insurance brand COCO through his business Navi Technologies from the housing finance firm Deewan Housing Finance Limited.

At the same time that Navi Technologies acknowledged receiving 209 crores from Gaja Capital in April 2020, Sachin Bansal was named the company's managing director. Navi Technologies submitted a draught for an IPO for INR 3350 crore on March 12, 2022.

As Sachin Bansal said:

Age doesn’t matter if you have the attitude and drive to succeed.