Binny Bansal is one of the leading billionaire entrepreneurs in India. He is the CEO and Board Member of India's commercial shopping website. His net worth is approximately speculated to be 54.000 crores. The company's estimated net worth is calculated to be $40 billion, according to media reports. It is headquartered in Bangalore, Karnataka.
He was born in 1983 in Chandigarh, Punjab. Binny did his schooling at St.Anne's School, Chandigarh. After then, Binny cracked IIT JEE and was admitted into IIT Delhi, and completed B.Tech in Computer Science.
After completing his Graduation Binny worked as a Software engineer at Sarnoff from 2005-to 2007. He also worked at Amazon as a Software Engineer.
In 2007 Binny along with Sachin Bansal founded the e-commerce platform Flipkart. Before being the cofounder at Flipkart he was rejected twice by Google.
Flipkart is the first e-commerce platform in India that offered Cash on Delivery. It was started as an online bookstore which later on was expanded to all other categories starting from fashion, electronics to everything which the consumer requires for their day-to-day living. In their early days of building up their platform, they both used to pack the book themselves and deliver it on scooters.
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The vision behind the platform was to provide the audience with a variety of products. It was to help the consumers compare the prices of their products across other websites on the internet and help them get the best value for their search and money.
Within six months of its operation, the startup was profitable and in 2008 they both shifted to a 2BHK apartment in Koramangala to serve as their official office. Slowly and by their hard work, their business idea became a famous e-commerce site. At the end of 2009, Flipkart had a sales of 40 million rupees.
In November 2018, Binny Bansal, co-founder of India’s largest online retailer Flipkart resigned over allegations of ‘personal misconduct. He wrote, “I am surprised by these allegations and strongly reject them. This is a challenging time for my family and me. Given these circumstances, I think it is right to resign from the post of Chairman and Group CEO of the company.”
Sachin and Binny were ranked among the 100 most influential people by TIME in 2016. They were also ranked 26 spots on India Today's 50 Most Powerful People of 2017 list. In 2015 Binny and Sachin had a net worth of $1.3 billion which made them on the list of 86th richest people in the country by Forbes. Sachin Bansal and Binny Bansal won the entrepreneur of the year in 2012-2013 by the Economic Times.
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Sachin and Binny are considered Jai and Veeru for the world of startups in India.
Binny Bansal tied the knot with Trisha Bansal in February 2010. They live in Bangalore.
In his leisure time, he loves reading, playing basketball and football.
