New Delhi,
\nThey were considered the Jai-Veeru of the Indian startup panorama, and when one decided to finally exit the company they founded 11 years ago, it was really a sad moment for the other.<\/p>\n
Sachin Bansal\u2019s decision to exit Flipkart after its takeover by Walmart was a \u201cvery emotional moment\u201d, said the company\u2019s co-founder Binny Bansal. Asked if he didn\u2019t try and convince Sachin to stay on, Binny, 35, said: \u201cThat\u2019s an understatement.\u201d<\/p>\n
As US retailer Walmart acquired a majority stake in Flipkart, Sachin sold his 5.5 per cent stake for about $1 billion and exited the company.<\/p>\n
The two Bansals, both from Chandigarh, are not related but came to know each other as they were passing out of Indian Institute of Technology, Delhi, in 2005 and decided to move to Bangalore, now known as Bengaluru.<\/p>\n
They launched Flipkart in 2007 as the \u2018Amazon of India\u2019. It was valued at close to $21 billion as Walmart on Wednesday bought 77 per cent stake in it for $16 billion. While Binny decided to continue with the company, Sachin, 36, exited. \u201cSachin and I met in 2005 when we were passing out (of IIT, Delhi). Both of us moved to Bangalore. We were a group of eight friends from IIT-Delhi and we used to hang out together all the time,\u201d said Binny. \u201cI think both of us have been sort of a pillar of support to each other.\u201d<\/p>\n
In a Facebook post, Sachin said his work at Flipkart \u201cis done\u201d and \u201cit\u2019s time to hand over the baton and move on\u201d.<\/p>\n
After moving to Bangalore, Sachin joined Amazon and recommended Binny, earning an employee recommendation bonus. He, however, had to soon return it as Binny left Amazon in just eight months. The two then started a company together with Rs 4 lakh capital.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi, They were considered the Jai-Veeru of the Indian startup panorama, and when one decided to finally exit the company they founded 11 years ago, it was really a sad moment for the other. Sachin Bansal\u2019s decision to exit Flipkart after its takeover by Walmart was a \u201cvery emotional moment\u201d, said the company\u2019s co-founder […]<\/p>\n","protected":false},"author":1,"featured_media":30793,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-30792","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/30792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=30792"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/30792\/revisions"}],"predecessor-version":[{"id":30794,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/30792\/revisions\/30794"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/30793"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=30792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=30792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=30792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}