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Binny Bansal

Online gold loan brand Rupeek raises $60 mn from Binny Bansal, GG...

Wed, Feb 26, 2020

Online gold loan brand Rupeek said it has raised USD 60 million (about Rs 430 crore) from GGV Capital, Binny Bansal and others.

Flipkart co-founder Binny Bansal sells part shares to Walmart for Rs 531 crore

Flipkart co-founder Binny Bansal sells part shares to Walmart for...

Mon, Jun 24, 2019

Binny Bansal, co-founder of India's leading e-tailer Flipkart, sold around 54 lakh of his equity shares valued at $76 million (Rs 531 crore) to world's retail giant Walmart`s Luxembourg entity FIT Holdings SARL, business intelligence platform Paper.vc said on Monday.

Flipkart ex CEO Binny Bansal case: Police file case against woman

Flipkart ex CEO Binny Bansal case: Police file case against woman

Sat, Nov 24, 2018

A non-cognisable case was filed against a woman on a complaint by Flipkart Co-founder Binny Bansal, who recently quit as the Group CEO over allegations of "serious personal misconduct", but was later closed after a brief probe, a senior police official said Friday.

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From Flipkart founders Sachin and Binny Bansal to PM Narendra Modi, check top news

From Flipkart founders Sachin and Binny Bansal to PM Narendra Modi, check top news

Fri, Nov 23, 2018

As the nation is inching closer to the next year's general elections, several mega plans are being unfolded. Prime Minister Narendra Modi on Thursday, through video conferencing from New Delhi, launched/laid foundation stones of city gas distribution projects.

Income tax returns shocker for Flipkart founders Sachin Bansal and Binny; this is what taxman wants from duo

Income tax returns shocker for Flipkart founders Sachin Bansal and Binny; this is what taxman wants from duo

Thu, Nov 22, 2018

Income tax returns: The I-T department has written to Flipkart founders Sachin Bansal and Binny Bansal seeking to know the details of the income earned following their share sale to US retail giant Walmart and when they would be depositing the advance tax, an official said.

Flipkart makers' exit! First Sachin Bansal, now Binny Bansal; This is how they give India its largest shopping portal

Flipkart makers' exit! First Sachin Bansal, now Binny Bansal; This is how they give India its largest shopping portal

Fri, Nov 16, 2018

A scandal has emerged in Flipkart, but that has been under the leadership of US-based offline retailer Walmart, albeit, it has to do with a co-founder. What has happened is that, since Flipkart came under ambit of Walmart, two of its founder have left the company.

In shock move, Warren Buffett ends 20-year love affair with Walmart; Flipkart or Amazon to blame?

In shock move, Warren Buffett ends 20-year love affair with Walmart; Flipkart or Amazon to blame?

Fri, Nov 16, 2018

Berkshire’s investment in Walmart goes way back to 1998, and Buffett held some 20 million shares in the retailer until he doubled that by the end of 2009. In the year 2003, Buffett had even purchased Walmart’s McLane food-distribution business.

Exit of Flipkart CEO Binny Bansal adds to fears in Corporate India about sexual misconduct

Exit of Flipkart CEO Binny Bansal adds to fears in Corporate India about sexual misconduct

Fri, Nov 16, 2018

This year, however, Alex's Mumbai-based consultancy firm Rainmaker is witnessing its sharpest growth ever as companies quickly try to educate employees about anti-sexual harassment laws and company policies.

After Binny Bansal, CEO of Flipkart's fashion unit Myntra Ananth Narayanan quits, job cuts seen: Report

After Binny Bansal, CEO of Flipkart's fashion unit Myntra Ananth Narayanan quits, job cuts seen: Report

Fri, Nov 16, 2018

The chief executive officer of online fashion retailer Myntra, Ananth Narayanan, has decided to resign, days after the co-founder and group chief executive of its parent Flipkart stepped down, the Times of India reported on Friday.

Binny Bansal resigns: What next at Flipkart now

Binny Bansal resigns: What next at Flipkart now

Wed, Nov 14, 2018

After the unceremonious, even ignominous, exit of Binny Bansal from the very cpompany he co-foinded, Kalyan Krishnamurthy, who heads the company's main Flipkart e-commerce operation, would now act as chief executive for a broader group.

Binny Bansal quits: This is why Flipkart CEO resigned; 8 points to note

Binny Bansal quits: This is why Flipkart CEO resigned; 8 points to note

Tue, Nov 13, 2018

To the surprise of the corporate world, tech savvy billionaire and one of the biggest success stories to emerge from the new India economy, e-commerce major Flipkart co-founder Binny Bansal has quit as group chief executive officer over allegations of "serious personal misconduct".

Why Flipkart CEO Binny Bansal has resigned

Why Flipkart CEO Binny Bansal has resigned

Tue, Nov 13, 2018

Walmart-owned Flipkart's chief executive and co-founder Binny Bansal has resigned following a probe into serious personal misconduct, said Walmart Inc on Tuesday in a regulatory filing. Bansal has strongly denied the allegations, the company said in a statement.

This Flipkart honcho set to be replaced? Walmart cracks the whip

This Flipkart honcho set to be replaced? Walmart cracks the whip

Mon, Sep 24, 2018

Walmart Inc's newly acquired Indian retailer Flipkart is likely to appoint a new chief executive officer (CEO) at the group level, replacing Binny Bansal. One of the most prominent names that may replace Bansal is Flipkart Chief Executive Officer Kalyan Krishnamurthy, reported Mint.

Who is Sachin Bansal, the man who started Flipkart but sold it to Walmart

Who is Sachin Bansal, the man who started Flipkart but sold it to Walmart

Fri, May 11, 2018

Sachin Bansal, the poster boy of India's e-commerce revolution, had once said he will never sell Flipkart, but guess he got an offer he just could not refuse! It so happened that he has now exited the business by selling his entire stake in Flipkart.

Massive setback to Flipkart-Walmart $16 bn pact; will it kill the deal?

Massive setback to Flipkart-Walmart $16 bn pact; will it kill the deal?

Fri, May 11, 2018

Walmart has bought 77 per cent of Flipkart in a deal valued at $16 bn and yet, today a deal killer has emerged on the horizon! It has so transpired that Japan's SoftBank Group Corp has reportedly not yet decided to sell its 20-22 per cent stake in Flipkart to US retailer Walmart Inc.

Day after buying Flipkart, Walmart says will open 50 new stores in India in 4-5 yrs

Day after buying Flipkart, Walmart says will open 50 new stores in India in 4-5 yrs

Thu, May 10, 2018

A day after announcing USD 16 billion investment in India's largest online retailer Flipkart, Walmart Inc today said it will continue to grow its wholesale cash-and-carry business, adding 50 new stores in the next four-five years. "We currently have 21 stores and plan to open 50 stores in 4 to 5 years. Plans are on track,"

Here is what Binny Bansal has to say about Sachin Bansal’s exit from Flipkart

Here is what Binny Bansal has to say about Sachin Bansal’s exit from Flipkart

Thu, May 10, 2018

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 8 months.

Sachin Bansal, Binny Bansal join Mukesh Ambani, Azim Premji in billionaires club; check India's top 5 list

Sachin Bansal, Binny Bansal join Mukesh Ambani, Azim Premji in billionaires club; check India's top 5 list

Thu, May 10, 2018

India's very own whizkids, Sachin Bansal and Binny Bansal have turned billionaires after selling their stake in India's top e-retailer Flipkart to US retail giant Walmart in a transaction dubbed as world's largest e-commerce deal valued at $16 bn.

Who is Binny Bansal, the man who just sold Flipkart to Walmart; check in 5 slides

Who is Binny Bansal, the man who just sold Flipkart to Walmart; check in 5 slides

Thu, May 10, 2018

Binny Bansal, the poster boy of India's e-commerce revolution, has just sold his firm Flipkart, he is a co-founder alongside Sachin Bansal, to US retail giant Walmart in a deal valued at $16 bn. It has boosted Flipkart valuation to $21 bn (Rs 1,35,000 crore).

Awesome Flipkart-Walmart deal may get big slap in face in India

Awesome Flipkart-Walmart deal may get big slap in face in India

Thu, May 10, 2018

As per the proposed deal, Walmart is expected to acquire shares of the Singapore-registered Flipkart. In the normal case, capital gains will not arise. But India had introduced an amendment to nullify the Vodafone Judgment by taxing indirect transfers. On account of indirect transfer, this transaction could get taxed, because of the change in shareholding at the Singapore entity.

Walmart buys Flipkart: Great discounts coming for buyers soon

Walmart buys Flipkart: Great discounts coming for buyers soon

Thu, May 10, 2018

Flipkart-Walmart deal: US firm's $16 billion majority stake acquisition in Flipkart is set to make shopping much more rewarding for the Indian online consumers. With Jeff Bezos promoted Amazon India challenging Flipkart’s leadership position, the latter is left with no option but to do everything under the sun and maintain/ grow its market share in the $17.8 billion Indian e-commerce industry.

This is what world's biggest e-commerce deal is all about

This is what world's biggest e-commerce deal is all about

Thu, May 10, 2018

In the biggest deal in e-commerce space globally, retail giant Walmart picked up 77 per cent stake in Flipkart on Wednesday. Walmart is paying $16 million in a combination of secondary ($14 billion) and primary ($2 billion) transactions. The deal is yet to get regulatory approvals in India.

RSS wing: Walmart making back-door entry into India with Flipkart deal; calls on PM Modi to intervene

RSS wing: Walmart making back-door entry into India with Flipkart deal; calls on PM Modi to intervene

Thu, May 10, 2018

The Swadeshi Jagran Manch, which is the economic wing of the Sangh, claimed that Walmart is using e-commerce route to circumvent existing rules which bar foreign companies in multi-brand retail and dubbed its acquisition of Flipkart a "back-door entry" into Indian market.

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