Binny Bansal: News

05 Aug 2021


Flipkart, founders, nine others slapped with Rs. 10,600-crore ED notice

Walmart-backed e-commerce platform Flipkart, its founders, and nine other entities including investor Tiger Global have been slapped with notices by the Indian government's Enforcement Directorate (ED) for the alleged violation of foreign exchange (forex) laws regarding investment.

30 Nov 2019


Online insurance provider Acko raises $16 million from Ascent Capital

Mumbai-based insurance-tech start-up Acko General Insurance, a digital first platform which primarily offers two-wheeler and four-wheeler insurance, has raised $16 million in funding from Ascent Capital.

26 Oct 2019


Binny Bansal invests $12.3 million in customer engagement platform Mobikon

Mobikon, a marketing and data-exchange platform for restaurants, has raised $12.3 million in Series B round of funding.

14 Jan 2019


Myntra and Jabong CEO Ananth Narayanan resigns; may join Hotstar

After some rounds of speculation, it has been confirmed that Ananth Narayanan, CEO of Flipkart-owned Myntra and Jabong, has left his post in pursuit of other opportunities.

21 Dec 2018


Flipkart co-founder Sachin Bansal registers new company with IIT batchmate

Flipkart co-founder Sachin Bansal, along with investment banker Ankit Agarwal, has registered a new company - BAC Acquisitions Private Limited - according to data from the Registrar of Companies.

14 Dec 2018


Binny Bansal to begin second innings with another startup, xto10x

Barely a month has passed since Flipkart co-founder Binny Bansal stepped down as the CEO of the Flipkart Group, and already, speculations are rife about his next venture.

22 Nov 2018


I-T Dept issues notices to Sachin, Binny Bansal over Flipkart-Walmart-deal

Flipkart founders Sachin Bansal and Binny Bansal have been issued notices by the Income Tax Department, asking them to disclose their total earnings arising out of Walmart-Flipkart deal.

16 Nov 2018


Ananth Narayanan is happy as Myntra's CEO, won't quit

Ananth Narayanan, the CEO of Myntra, dismissed reports of his resignation on Friday saying he was happy at the fashion e-tailer.

16 Nov 2018


Days after Binny Bansal's exit, Myntra CEO and CFO quit

A few days after Flipkart co-founder Binny Bansal resigned from the company on charges of personal/sexual misconduct, Myntra CEO and CFO have quit.

14 Nov 2018


Binny Bansal out of Flipkart: Some conjectures, many unanswered questions

In more ways than one, Flipkart is India's biggest start-up success story. The company and its founders are (still) the quintessential Indian dream - owners' pride, and everyone else's envy.

14 Nov 2018


Why co-founder Binny Bansal resigned from Flipkart

Flipkart's co-founder Binny Bansal stepped down from the Walmart-owned company on Tuesday, and now a report claims an investigation into the accusations of misconduct found that he had a consensual affair with the woman.

13 Nov 2018


Binny Bansal resigns as CEO of Flipkart Group: Details here

Flipkart co-founder Binny Bansal has resigned as the CEO of the Flipkart Group, following an investigation into allegations of "serious personal misconduct" against him.

24 Sep 2018


Flipkart might replace Binny Bansal as group CEO

Walmart-owned Flipkart is contemplating separating the responsibilities of chairman and group CEO, and is likely to replace Flipkart co-founder Binny Bansal as the group CEO.

05 Jun 2018


Indian company launches electric scooters- Ather 340 and Ather 450

Homegrown start-up Ather Energy has finally launched its electric scooters in India - the Ather 340 and Ather 450.

10 May 2018

Sachin Bansal

Really sad to see Sachin leave Flipkart: Co-founder Binny Bansal

They were considered the "Jai-Veeru" of the Indian start-up panorama, and when one decided to finally exit the company they founded 11 years ago it was really a sad moment for the other.

10 May 2018


Walmart-Flipkart deal turns many employees crorepatis: Details here

Walmart's $16bn buyout of Flipkart has brought cheer not only to India's iconic start-up, but also to 3,000 of its current and former employees who hold shares with the company.

09 May 2018


Walmart buys 77% stake in Flipkart for $16 billion

The cat is finally out of the bag - Walmart Inc. has announced its acquisition of India's leading e-commerce platform, Flipkart, for a whopping $16bn, taking 77% stake. This makes it the world's most expensive e-commerce acquisition, so far.

09 May 2018


The Flipkart dream: Move aside, make room for nerds

When as a child you were told by your parents to chase the IIT dream, they were not wrong.

04 May 2018


The love triangle of Amazon, Flipkart, and Walmart

Here's the story: Basically, the two US retail rivals Walmart and Amazon are both attempting to buy Flipkart, which is the best start-up India has produced in over a decade.

09 Apr 2018


Flipkart opens new consolidated office space in Bengaluru

Flipkart has opened a new office space in Embassy Tech Village, Bengaluru, which is a consolidation of all of its previous 11 campuses in the city.

03 Jan 2018


Flipkart's Bansal brothers set up new company, Sabin Advisors

In a quiet move, Flipkart founders Sachin Bansal and Binny Bansal set up a new company, Sabin Advisors, in December, 2017, reportedly for new businesses, that could range from venture capital funding to insurance.

27 Nov 2017


Complaint against Flipkart founders for cheating supplier of Rs. 10cr

The Bansals of Flipkart fame are in trouble, along with three of its employees. A businessman has filed a complaint against these five people alleging they had cheated him to the tune of Rs. 10cr.

01 Aug 2017


Flipkart launches budget brand 'Billion' for desi sellers and customers

Flipkart has launched 'Billion'- a 'Make-in-India'-inspired initiative that will partner with Indian sellers to cater to Indian customers.

07 Jun 2017


Karnataka- Mother beats daughter to death for failing exams

An 18 year old girl was beaten to death with an iron rod by her own mother for failing her English exam and falling in love. The incident happened in Kolar district, Karnataka.

25 Apr 2017


Flipkart to replace CEO for a day

Flipkart is planning to replace its CEO for one day, to give an employee the opportunity to see how it feels to run the company. It is a part of the company's 10th anniversary celebration.

16 Apr 2017


Delivery boy to multi-millionaire: Iyyappa recalls his Flipkart Journey

Flipkart employee Ambur Iyyappa's story is a fascinating one. Starting his career as a courier delivery boy and then moving to Flipkart, Iyyappa grew along with Flipkart, becoming a multi-millionaire.

10 Apr 2017


Flipkart to re-enter the grocery sector

After months of deliberation, Flipkart announced its second foray into the grocery sector which makes up "80% of the units bought in India".

21 Mar 2017


Flipkart raises $1bn in fresh funding, eyes another $1bn

Flipkart has raised funds of $1bn, and is planning to raise another $1bn in the next few months.

13 Mar 2017


Facebook and Flipkart to work together

Flipkart and Facebook are teaming up in an effort to improve connectivity for their apps and websites for users on slower networks and older handsets.

26 Feb 2017


New CFO-backed Flipkart returns to the game

India's largest online retailer Flipkart is looking at a fundraising of as much as $1.5 billion from investors including Microsoft, eBay, PayPal among others at a valuation of $10-12 billion.

22 Feb 2017


Flipkart looking to raise $1.5 billion from Microsoft

E-commerce giant Flipkart is amidst talks in order to raise a funding round of up to $1.5 billion from investors including Microsoft, eBay, PayPal Holdings and Tencent Holdings.

20 Feb 2017


Flipkart signs on Microsoft cloud service

India's largest e-commerce firm Flipkart, has signed up to use Microsoft's Azure cloud service platform.

26 Jan 2017


Flipkart's valuation slashed further

Fidelity investments has slashed the values of Flipkart's shares by 36%, bringing the company's valuation down to $5.58 billion.

06 Jan 2017


Flipkart in talks with Google for funds

Sources said Flipkart is in talks with Google to secure its next round of funding; talks with Walmart have also not collapsed yet according to insiders.

29 Nov 2016


Flipkart now valued at $6 billion: Morgan Stanley

A mutual fund managed by Morgan Stanley has slashed Flipkart's valuation to $6 billion down from its former glory of being a $15 billion company.

21 Nov 2016


Flipkart set to explore grocery sales, furniture market

Flipkart is reportedly eyeing more avenues for expanding its portfolio, with a new push towards online groceries and furniture.

29 Oct 2016


Flipkart's Sachin Bansal eyes lobby group for start-ups

Flipkart's co-founder Sachin Bansal is eyeing the possibility of creating a lobby group for start-ups across the country.

25 Oct 2016


E-tailers eyeing offline stores across smaller towns

India's e-tailers are considering launching their offline stores across small cities in the country.

22 Oct 2016


Flipkart looks to launch offline stores across India

Indian e-commerce platform Flipkart is eyeing further expansion by launching offline stores across the country.

10 Oct 2016


Flipkart eyes fresh funds after successful Big Billion Day sales

Indian e-commerce company Flipkart is looking to raise fresh funds this year, according to reports.

29 Sep 2016


Walmart set to invest up to $1 billion in Flipkart

American retail giant Walmart Store Inc. is in talks to invest up to $1 billion in the Indian e-commerce website Flipkart.

22 Aug 2016


Flipkart co-founder Sachin Bansal admits to company not meeting targets

Sachin Bansal, who earlier this year stepped down as CEO of Flipkart, admitted that the e-commerce portal had not been meeting its targets.

13 Aug 2016


Flipkart launches office in Palo Alto

On 12th August, 2016, Indian e-commerce giant Flipkart established an office in the United States of America.