Flipkart's Bansal brothers set up new company, Sabin Advisors
What's the story
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.
Coined by combining the first few letters of the founders' names, the firm's future dealings and business plans remain undisclosed as yet.
Read on to know more.
Diversification
Time for Bansals to look out for newer challenges?
Since the Bansals and their funding partners have achieved the goals they set out with Flipkart, they might use the newly-acquired company to foray into other businesses and route their investments, reported BusinessLine.
According to paper.vc, a business intelligence platform, Sabin Advisors was incorporated on December 7 and has several business objectives listed, including online ventures.
Information
Sachin, Binny Bansal have investments worth $58mn in 24 ventures
Bansal brothers' investments are wide-ranging and many. Together, Sachin and Binny Bansal have invested $58 million in 24 ventures ranging from learning platform Unacademy to mobile news aggregator InShorts, electric two-wheeler start-up Ather Energy, and start-up informer Tracxn.
Future
What after Flipkart?
Is the latest acquisition a silent announcement by Flipkart founders that they are now looking at other investment avenues outside the e-commerce platform?
It isn't an unlikely idea as after Flipkart's recent $3 billion funding, investors have been leading its operations. Bansals now play mentors and might take the company public in the next few years.
Other projects
Billion: The first move towards diversification
The launch of Billion - a private budget label - by Flipkart in 2017 was probably the co-founders' first step towards diversifying.
Unlike other private label brands under Flipkart, Billion doesn't have the e-commerce giant's name tagged to it.
In fact, it is handled by an independent team that reports directly to Sachin Bansal.