UpdateBot at 12:22, 2 February 2022

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{{short description|Indian billionaire Internet entrepreneur|bot=PearBOT 5}}
{{EngvarB|date=February 2016}}
{{Use dmy dates|date=September 2018}}
{{Infobox person
| honorific_prefix =
| name = Binny Bansal
| image =
| nationality = Indian
| birth_date = {{birth based on age as of date |35|2018|08|29}}<ref name="Forbes profile"/>
| birth_place =
| alma_mater = [[IIT Delhi]]
| occupation = Former Chairman & CEO, [[Flipkart]]
| spouse = Trisha Bansal
| known_for = Co-founding Flipkart <ref>{{cite news|url=https://www.livemint.com/Companies/VVgc0VII28w6w2aSQ4V0dP/Flipkarts-other-Bansal-comes-to-the-fore.html|title=Flipkart's other Bansal comes to the fore|newspaper=Mint|publisher=LiveMint|date=13 January 2016|last1=Verma|first1=Mihir Dalal}}</ref>
| website = {{URL|http://www.flipkart.com|Flipkart.com}}
| net_worth = {{down}} [[US$]] 1.1 billion (June 2021)<ref name="Forbes profile">{{cite web |title=Forbes profile: Binny Bansal (Resigned)|url=https://www.forbes.com/profile/binny-bansal/ |website=Forbes |access-date=29 August 2018}}</ref>
}}
'''Binny Bansal''' (born 1982/1983) is an Indian billionaire [[Internet entrepreneur]].<ref>{{cite web |url=http://mybtechlife.com/the-list-of-great-entrepreneurs-in-india-2015/ |title=The List Great Entrepreneurs of India in 2015 |publisher=MyBTechLife |author=Srikar Muthyala |date=29 September 2015 |url-status=dead |archive-url=https://web.archive.org/web/20160114000446/http://mybtechlife.com/the-list-of-great-entrepreneurs-in-india-2015/ |archive-date=14 January 2016 }}</ref> In 2007 he co-founded the [[e-commerce]] platform [[Flipkart]] with [[Sachin Bansal]] (no relation) and served as the [[chief operating officer]] until 11 January 2016 and was then promoted to chief executive officer (CEO).<ref>{{Cite web|url=https://www.indiatoday.in/magazine/cover-story/story/20110926-india-today-youth-special-sachin-bansal-and-binny-bansal-flipkart-747699-2011-09-17|title=Sachin Bansal and Binny Bansal proudly owns flipkart.com, the biggest online bookstore in India|first1=Deepshikha |last1=Punj|date=September 17, 2011|website=India Today}}</ref><ref>{{Cite web|url=https://www.financialexpress.com/archive/flipkart-sales-hit-whopping-1-bn-sachin-and-binny-bansal-run-rate-stupendous/1232292/|title=Flipkart sales hit whopping $1 bn, Sachin and Binny Bansal 'run rate' stupendous|date=9 March 2014|website=The Financial Express}}</ref> In January 2017 he was promoted to Group CEO and resigned in November 2018 due to personal misconduct allegations<ref>{{Cite web|url=http://factordaily.com/flipkart-management-change-2017/|title=Kalyan Krishnamurthy to take over as Flipkart CEO, Binny Bansal Group CEO - FactorDaily|website=factordaily.com|date=9 January 2017|access-date=9 January 2017}}</ref> of Flipkart. Binny is from [[Chandigarh]] and graduated from the [[Indian Institute of Technology Delhi]] with a degree in [[computer science and engineering]].<ref>{{Cite web|url=https://daily.bhaskar.com/news/MON-SPE-flipkart-success-story-revealed-meet-sachin-bansal-and-binny-bansal-4458841-PHO.html|title=Flipkart success story revealed! Meet Sachin Bansal and Binny Bansal|date=9 December 2013|website=dailybhaskar}}</ref><ref>{{cite web|url=http://forbesindia.com/article/checkin/what-flipkarts-funds-mean-for-its-rivals/35683/1|title=What Flipkart's Funds Mean for its Rivals|work=[[Forbes India]]|access-date=30 March 2014}}</ref> He is currently an anchor investor in the venture firm 021 Capital which focuses on investing in the fields of [[biotechnology]], [[Agricultural technology|agritech]], and the [[internet]].<ref>{{Cite web|url=https://www.forbes.com/profile/binny-bansal/#17e3ac46303b|title=Binny Bansal|website=[[Forbes]]}}</ref>

==Early life==
Binny Bansal is originally from [[Chandigarh]], the capital city of [[Punjab, India|Punjab]] and [[Haryana]].{{Citation needed|date=June 2021}} His business partner, Sachin Bansal, is also from Chandigarh. Although they share the same last name, they are not related.<ref name="forbesindia">{{cite web | url=http://forbesindia.com/richprofile2015/binny-bansal-/171 | title=Binny Bansal | access-date=13 November 2015 | archive-url=https://web.archive.org/web/20151117025154/http://forbesindia.com/richprofile2015/binny-bansal-/171 | archive-date=17 November 2015 | url-status=dead }}</ref> They both coincidentally, were students of computer science engineering at [[Indian Institute of Technology, Delhi]]. Bansal currently resides in [[Bangalore]]. His father is a retired chief manager at a bank and his mother is in the government sector. He has no siblings and is married to a homemaker.<ref name="business-standardOne">{{cite news | url=http://www.business-standard.com/article/companies/flipkart-ceo-wanted-to-be-a-gamer-snapdeal-chief-a-food-and-film-critic-114080500001_1.html | title=flipkart ceo wanted to be a gamer snapdeal chief a food and film critic | newspaper=Business Standard India | date=5 August 2014 | access-date=25 November 2015| last1=Mookerji | first1=Nivedita }}</ref>

==Career==
Before co-founding Flipkart, Binny was employed by [[Amazon.com|Amazon]] for nine months, and before that he had been rejected by [[Google]] twice.<ref>{{cite web|title=Before I got into Amazon, Google rejected me twice. But that did not stop me from starting Flipkart: Binny Bansal|url=http://conclave.intoday.in/video/before-starting-flipkart-i-was-doing-a-12-to-5-job-binny-bansal/3668/39/76.html|access-date=5 August 2014}}</ref> Binny Bansal and his business partner Sachin Bansal initially thought of starting a comparison search engine, but realized that the market for [[E-commerce in India]] was very small. Hence, after leaving Amazon in 2007, they founded Flipkart as an e-commerce company. Before joining Amazon, Binny had worked with [[Sarnoff Corporation]] for a year and a half,<ref name="daily.bhaskar.com">{{cite web|title=Flipkart success story revealed! Meet Sachin Bansal and Binny Bansal | url=http://daily.bhaskar.com/news-hf/MON-SPE-flipkart-success-story-revealed-meet-sachin-bansal-and-binny-bansal-4458841-PHO.html?seq=2 | access-date=20 November 2015}}</ref> where he developed a lane sensor device for cars which would warn you and beep automatically if you changed lanes without giving a signal.{{citation needed|date=September 2018}}

In 2016, Binny Bansal became the CEO of Flipkart, where he worked on strategic development, direction and business management.<ref>{{Cite news|url=https://www.livemint.com/Companies/j8ebSI6fTpKEO4wp2nrfCJ/Flipkarts-Binny-Bansal-replaces-Sachin-Bansal-as-new-CEO.html|title=Flipkart flips CEO post, Binny Bansal replaces Sachin Bansal|date=12 January 2016|work=Livemint}}</ref> In 2017, he assumed the role of CEO of Flipkart Group and his previous position was handed to Kalyan Krishnamurthy.<ref>{{Cite news|url=https://www.thehindu.com/business/Industry/Flipkart-appoints-Kalyan-Krishnamurthy-as-new-CEO/article17014022.ece|title=Flipkart appoints Kalyan Krishnamurthy as new CEO|date=9 January 2017|work=The Hindu}}</ref>

In 2018, [[Walmart]] acquired a 77% stake in Flipkart group. After the acquisition, Binny Bansal assumed the role of chairman and continued as Group CEO.<ref>{{Cite news|url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/walmart-acquires-flipkart-for-16-bn-worlds-largest-ecommerce-deal/articleshow/64095145.cms|title=Walmart acquires Flipkart for $16 billion in world's largest ecommerce deal|date=10 May 2018|work=Economic Times}}</ref> His 5.5% stake in Flipkart was valued at $1 billion after the acquisition.<ref>{{Cite news|url=https://factordaily.com/walmart-flipkart-deal-binny-bansal-exit/|title=Is Binny Bansal saying bye to Flipkart in the Walmart sellout?|date=26 April 2018|work=Factor Daily}}</ref><ref>{{Cite news|url=http://www.newindianexpress.com/business/2018/may/10/sachin-bansal-and-binny-bansals-flipkart-journey-from-kart-to-mart-1812574.html|title=Sachin Bansal and Binny Bansal's Flipkart journey: From Kart to Mart|date=10 May 2018|work=The New Indian Express}}</ref> He resigned from Flipkart in November 2018 on allegations of personal misconduct.<ref>{{Cite web|url=https://news.walmart.com/2018/11/13/flipkart-and-walmart-statement-on-binny-bansal|title=Flipkart and Walmart statement on Binny Bansal|website=news.walmart.com|language=en|access-date=2018-11-16}}</ref>

==Awards and recognition==
* In September 2015, Binny Bansal along with [[Sachin Bansal]], was named the 86th richest person in India with a net worth of $1.3 billion by [[Forbes India]] Rich List.<ref name="firstpost.com">{{cite news|title=Forbes India rich list: Mukesh Ambani tops for 9th year, Flipkart's Bansals debut at 86th slot|url=http://www.firstpost.com/business/flipkart-co-founders-sachin-and-binny-bansal-enter-forbes-billionaires-list-2443866.html|access-date=24 September 2015|publisher=Firstpost|date=24 September 2015}}</ref>
* ''[[India Today]]'' ranked him #26th along with Sachin Bansal in India's 50 Most powerful people of 2017 list.<ref>{{cite news|title=India's 50 powerful people|url=http://indiatoday.intoday.in/story/india-today-top-50-powerful-indians-mukesh-ambani-ratan-tata-kumar-mangalam-birla-gautam-adani-anand-mahindra-srk-amitabh-bacchan/1/928939.html|publisher=[[India Today]]|date=14 April 2017}}</ref>

==References==
{{reflist}}

==External links==
* {{LinkedIn URL|https://www.linkedin.com/in/binnybansal}}

{{Flipkart}}
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{{DEFAULTSORT:Bansal, Binny}}
[[Category:Living people]]
[[Category:Businesspeople from Chandigarh]]
[[Category:Indian software engineers]]
[[Category:20th-century Indian businesspeople]]
[[Category:Year of birth missing (living people)]]
[[Category:Place of birth missing (living people)]]
[[Category:IIT Delhi alumni]]
[[Category:Indian chief operating officers]]
[[Category:Amazon (company) people]]
[[Category:Indian billionaires]]
[[Category:Flipkart people]]
[[Category:Indian Internet company founders]]
[[Category:Indian technology chief executives]]
[[Category:Indian technology company founders]]
[[Category:Indian online retailer founders]]
[[Category:St. Anne's Convent School, Chandigarh alumni]]
[[Category:1980s births]]

Binny Bansal - Revision history

UpdateBot at 12:22, 2 February 2022