Sachin Bansal (born August 5, 1981) is an Indian entrepreneur. He is best known as the founder of

Flipkart Flipkart Private Limited is an Indian e-commerce company, headquartered in Bengaluru, and incorporated in Singapore as a private limited company. The company initially focused on online book sales before expanding into other product categorie ...

During his over 11 year career at Flipkart, Bansal was

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

and chairman. In 2018, Bansal exited Flipkart following the Walmart deal. In 2007, Sachin Bansal and

Binny Bansal Binny Bansal (born 1982/1983) is an Indian billionaire Internet entrepreneur. 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 ...

(not related) founded Flipkart whose valuation in 2018 was $20.8 billion. In 2018, Bansal held a 5.5 percent stake in Flipkart, which he sold to Walmart and his net worth then was a little over $1 billion. In May 2018, Bansal announced that after stepping down as the executive chairman of Flipkart, he would be focusing on pending personal projects, gaming and brushing up his coding skills. Sachin Bansal is now the managing director of Navi Group, a financial services company.

Early life

Bansal was born in

Chandigarh Chandigarh () is a planned city in India. Chandigarh is bordered by the state of Punjab to the west and the south, and by the state of Haryana to the east. It constitutes the bulk of the Chandigarh Capital Region or Greater Chandigarh, which al ...

, India, on August 5, 1981. His father is a business man and mother, a homemaker. Bansal attended Indian Institute of Technology Delhi and completed a degree in

computer engineering Computer engineering (CoE or CpE) is a branch of electrical engineering and computer science that integrates several fields of computer science and electronic engineering required to develop computer hardware and software. Computer engineers n ...

in 2005. After graduation, Bansal worked at Techspan for a few months and later in 2006 he joined

Amazon Web Services Amazon Web Services, Inc. (AWS) is a subsidiary of Amazon that provides on-demand cloud computing platforms and APIs to individuals, companies, and governments, on a metered pay-as-you-go basis. These cloud computing web services provide d ...

as a senior software engineer. In 2007, Bansal quit Amazon to start his own company.

Flipkart

In October 2007, Bansal and his co-founder, Binny Bansal, started an online bookstore, Flipkart, with an initial capital of ₹4,00,000 (4 Lakh Rupees or US$5,600). They first started operating out of an apartment in Koramangala, in

Bangalore Bangalore (), officially Bengaluru (), is the capital and largest city of the Indian state of Karnataka. It has a population of more than and a metropolitan population of around , making it the third most populous city and fifth most ...

, India. In the first few months, according to Bansal's own claims, he oversaw all business details, from building the first version of their website to sourcing book to packing and delivering them. From inception until 2016, Bansal held the position of Chief Executive Officer and from 2016 until 2018, he held the position of Executive Chairman. In 2018, Bansal signed a non-compete clause with Walmart and exited Flipkart. The non-compete clause restricted Bansal from starting any business that directly or indirectly competed with Flipkart for 18 months and in making any investments in businesses competing with Flipkart for 36 months from his departure.

Post-Flipkart

In December 2018, Bansal founded BACQ Acquisitions Private Limited, a venture that focused on building and acquiring technology-driven businesses in diverse industry verticals. Since 2014, Bansal has made 18 investments in local, early-stage startups where the deal size was $1–2 million. In 2019, Bansal invested $100 million in Ola Cabs and received a stake holding of 0.37 per cent. In February 2019, he had investments in Ola, Grey Orange, Ather Energy, SigTuple, IN shorts, Unacademy and Terminus.

Navi Technologies

In December 2019, Sachin Bansal's Navi Technologies acquired Bengaluru based technology consulting firm Maven Hive. No financial details were disclosed. Sachin acquired the general insurance brand COCO, previously owned by the housing finance company Deewan housing finance limited, through his company Navi Technologies in 2020. In April 2020, Navi Technologies announced Sachin Bansal as its Managing Director, at the same time when the company disclosed raising 209 crore from Gaja Capital. On 12 March 2022, Navi Technologies filed a draft for an INR 3350 crore IPO.

Recognition

* ''

The Economic Times ''The Economic Times'' is an Indian English-language business-focused daily newspaper. It is owned by The Times Group. ''The Economic Times'' began publication in 1961. As of 2012, it is the world's second-most widely read English-language bu ...

'' for "Entrepreneur of the year". * In 2015, Bansal was named as the 86th richest person in India by Forbes India. * In 2016, Time Magazine included Bansal and his co-founder in the 100 most influential people in the world list. * In 2017, India Today included Sachin Bansal and his co-founder in India's 50 most powerful people list.

Personal life

Sachin Bansal is married to Priya Bansal singh, a dentist by training and profession. They have one son.

Domestic violence allegations

In March 2020, Sachin Bansal's wife Priya Bansal filed a dowry harassment case against him alleging physical and sexual assault, and pressure to transfer properties to his name. She also alleged that Sachin sexually assaulted her sister. A

first information report __NOTOC__ A first information report (FIR) is a document prepared by police organisations in Indian subcontinent and Southeast Asian countries including Myanmar, India, Bangladesh and Pakistan when they receive information about the commissio ...

registered at the Koramangala police station on February 28 named four persons, including Sachin's parents, Sat Prakash Agarwal and Kiran Bansal and brother Nitin Bansal. In response, Sachin Bansal and his family members filed petitions under the Code of Criminal Procedure before the

High Court of Karnataka High may refer to: Science and technology * Height * High (atmospheric), a high-pressure area * High (computability), a quality of a Turing degree, in computability theory * High (tectonics), in geology an area where relative tectonic uplift t ...

. The complaint as well as the FIR was quashed by the orders of

dated August 13, 2021 and September 28, 2021. Priya Bansal subsequently filed a special leave petition before the

Supreme Court A supreme court is the highest court within the hierarchy of courts in most legal jurisdictions. Other descriptions for such courts include court of last resort, apex court, and high (or final) court of appeal. Broadly speaking, the decisions of ...

of India challenging the earlier Order by the

. The said petition was dismissed by the

Supreme Court of India The Supreme Court of India ( IAST: ) is the supreme judicial authority of India and is the highest court of the Republic of India under the constitution. It is the most senior constitutional court, has the final decision in all legal matters ...

on March 11, 2022.

References

{{DEFAULTSORT:Bansal, Sachin 1981 births Living people Indian software engineers IIT Delhi alumni Amazon (company) people Indian billionaires Indian Internet company founders Indian online retailer founders Flipkart people Indian computer businesspeople Indian technology company founders Indian technology chief executives