Sachin Bansal
Sachin Bansal | |
|---|---|
| Born | August 5, 1981 Chandigarh, India |
| Occupation | Entrepreneur |
| Years active | 2007–present |
| Known for | Founder of Flipkart |
Sachin Bansal (born 5 August 1981) is a prominent Indian entrepreneur recognized primarily for founding Flipkart. He held the positions of CEO and chairman throughout his 11-year leadership at the company. After Walmart acquired Flipkart for $16 billion in 2018, Bansal exited the organization.
In 2007, Sachin Bansal teamed up with Binny Bansal (no familial relation) to establish Flipkart, which by 2018 had reached a valuation of $20.8 billion. At the time of Walmart's acquisition, Sachin owned a 5.5% share in Flipkart, which he sold, earning over Rs 6,700 crore and elevating his net worth to just above $1 billion. Presently, he serves as the managing director of Navi Group, a company specializing in financial services.
Early life
Born in Chandigarh, India on 5 August 1981, Bansal is the son of a businessman and a homemaker. He completed his schooling at St. Anne's Convent School, Chandigarh and appeared for the IIT JEE examination, improving his all-India rank from 2470 on the first try to 49 on the second attempt. He earned a B.Tech degree in Computer Science and Engineering from IIT Delhi. After graduating, Bansal briefly worked at Techspan before joining Amazon Web Services as a senior software engineer in 2006. He left Amazon in 2007 to pursue entrepreneurship.
Flipkart
In October 2007, Sachin Bansal and co-founder Binny Bansal launched Flipkart as an online bookstore with an initial investment of ₹4,00,000 (around US$4,764). The business began operations from an apartment located in Koramangala, Bangalore. During its early phase, Sachin was responsible for every aspect of the company—from website creation to product sourcing and delivery logistics. He acted as CEO until 2016 and subsequently took on the role of Executive Chairman until 2018. Following Walmart’s acquisition in 2018, Bansal departed from Flipkart after agreeing to a non-compete clause that barred him from initiating or investing in rival ventures for up to three years.
Post-Flipkart
In December 2018, Sachin Bansal established BACQ Acquisitions Private Limited with a focus on building and acquiring technology-centric enterprises across multiple industries. Since 2014, he has backed 18 early-stage startups in India, typically investing between $1 million and $2 million per deal. In 2019, he made a notable $100 million investment in Ola Cabs, obtaining a 0.37% equity stake. By February that year, his investment portfolio included companies such as Ola, Grey Orange, Ather Energy, SigTuple, IN shorts, Unacademy, and Terminus.
In December 2019, Navi Technologies—part of Bansal’s Navi Group—acquired Maven Hive, a Bengaluru-based technology consulting firm; financial details were not disclosed. In 2020, Navi further expanded by purchasing the general insurance brand COCO from Deewan Housing Finance Limited. That same April, Navi secured ₹209 crore in funding from Gaja Capital and appointed Sachin Bansal as its Managing Director. On 12 March 2022, Navi Technologies filed a draft prospectus for an initial public offering targeting INR 3,350 crore.
Recognition
- The Economic Times honored Sachin Bansal with the "Entrepreneur of the Year" award.
- Forbes India ranked him as the 86th wealthiest individual in India in 2015.
- In 2016, Time Magazine named both Bansal and his co-founder among the world’s 100 most influential people.
- India Today included them in its list of India's top 50 most powerful personalities in 2017.
Personal life
Sachin Bansal is wedded to Priya Bansal Singh, who practices dentistry. The couple has one son.
Allegations of domestic violence
In March 2020, Priya Bansal lodged a dowry harassment complaint against Sachin Bansal, accusing him of physical and sexual abuse as well as pressuring her to transfer property. The case also implicated four relatives, including Sachin’s parents and brother.
Sachin Bansal and his family approached the Karnataka High Court, which dismissed both the complaint and the FIR in August and September 2021. Priya Bansal's appeal to the Supreme Court was rejected in March 2022.