Co-founder of the iconic e-commerce platform Flipkart, Binny Bansal, has called time on his tenure as a board member of the company, signaling the conclusion of a remarkable chapter in India’s start-up story. Binny, after selling his stakes last year, is paving the way for new endeavors, embarking on a fresh journey in the same domain with a start-up called OppDoor. Binny’s move follows his co-founder Sachin Bansal’s earlier departure to start a fintech enterprise, Navi.
Reflecting on his journey and the future he envisages for Flipkart, Binny expressed his pride in Flipkart’s accomplishments and the robust position it currently enjoys. He emphasized his confidence in the Flipkart Group’s strong leadership and its envisioned trajectory, which has reinforced his decision to step down. Walmart and Flipkart acknowledged his immense contributions, extolling his unique perspective and the wisdom he brought to the board since Walmart’s major investment in Flipkart in 2018.
Flourishing under CEO Kalyan Krishnamurthy’s operational leadership, Flipkart has continued to grow, venturing into new businesses and thriving as an e-commerce giant. As Binny departs, his legacy includes not just his involvement in Flipkart’s ascendancy but also his active role in the tech investment scene as an angel investor and his participation in the board of PhonePe. Flipkart’s foundations were laid in 2007 with a simple vision of delivering books online from a small apartment in Bengaluru, blossoming into an enterprise that enticed global investors and eventually partnered with Walmart through a significant acquisition.
Binny Bansal’s emerging enterprise, OppDoor, is primed to provide comprehensive support to e-commerce businesses aiming for global expansion, offering solutions from design and human resources to product strategy and backend support. Starting with a sharp focus on major markets across North America, Europe, Asia, and beyond, OppDoor plans to facilitate companies’ leverage on renowned platforms like Amazon to scale internationally.