Flipkart co-founder, Binny Bansal has formally resigned from the Board of the massive online retailer, ending his lengthy tenure there. He co-founded the business with Sachin Bansal in 2007.

Indian entrepreneur Binny Bansal is a co-founder of Flipkart, one of the nation's top e-commerce platforms. He held many positions at Flipkart, such as Chairman, Group CEO, Chief Operating Officer, and Chief Executive Officer. Binny established Bengaluru-based Flipkart, an online bookshop, in 2007. When Walmart bought a majority share in Flipkart in 2018, he led the firm to close the largest M&A deal in the history of online retail. At the moment, Binny works in the startup ecosystem as a coach, investor, and entrepreneur. He has made investments in a number of early-stage firms, including as Goodera, Tracxn, Ather, Increff, Inshorts, and Stellaps. Among the startups in the growth stage are Acko, Cure.fit, Rupeek, and GreyOrange.

Binny, who was based in Singapore, gave his departure from OppDoor as a result of a disagreement.The goal of his new business is to support up-and-coming e-commerce companies as they go global. Binny Bansal expressed confidence in Flipkart's current strong position and leadership, as well as satisfaction in the company's accomplishments, in his statement.

"I am proud of the Flipkart Group's accomplishments over the past 16 years," he declared. With this assurance that Flipkart is in good hands and has a talented leadership team and clear future direction, I have made the decision to stand down. Following his resignation, Binny Bansal is concentrating on his venture, OppDoor, which intends to offer solutions to e-commerce companies worldwide. For $16 billion, Walmart purchased a 77% share in Flipkart in 2018. Walmart announced in September 2023 that it has invested $3.5 billion to purchase the remaining Flipkart shares, paying $650 million to Binny Bansal for his whole ownership.

Walmart helped Flipkart secure $600 million lately, and the company is currently working to obtain $1 billion in capital. But the business let go of more than a thousand workers and declared that it would not be going public in 2024.The board and firm have benefited greatly from his comprehensive understanding of the industry and insightful opinions. Flipkart is the result of many hours of labour and a brilliant idea, developed by teams dedicated to changing the way that people in India shop. Flipkart CEO Kalyan Krishnamurthy said, "We wish Binny the best of luck on his next endeavour and thank him for the profound impact he has enabled for the Indian retail ecosystem."