Why did Sachin Bansal resign from Flipkart?

This was because of Sachin Bansal’s decision to leave Flipkart due to disagreements with the company’s board on his role after the conclusion of the Walmart deal. He (Sachin) had a fallout with Flipkart’s investors, especially Tiger Global’s Lee Fixel, which led to his departure.

What happened Binny Bansal?

Binny is from Chandigarh and graduated from the Indian Institute of Technology Delhi with a degree in computer science and engineering. He is currently an anchor investor in the venture firm 021 Capital which focuses on investing in the fields of biotechnology, agritech, and the internet.

Why was Binny Bansal ousted?

Binny Bansal, chief executive and cofounder of Walmart-owned Flipkart Group, resigned Tuesday following a probe into an allegation of “serious personal misconduct,” the company said in a statement. The resignation came on the heels of an independent investigation into the allegation which Bansal strongly denies.

Why did Binny Bansal quit?

Bengaluru: Flipkart co-founder and group chief executive Binny Bansal on Tuesday abruptly resigned from the company, following an internal investigation into an allegation of “serious personal misconduct”, sending shockwaves across India’s startup ecosystem.

When did Binny Bansal resign?

Yesterday (Nov. 13), Flipkart group’s CEO Binny Bansal resigned with immediate effect in the wake of a probe into an “allegation of serious personal misconduct.” (Sachin Bansal, the other co-founder and former CEO, moved out in May.)

Where is Sachin Bansal now?

Bansal, who is an IITian himself, left his most successful venture Flipkart in 2018 to start Navi Technologies. As a founder of a company, Bansal is not limited to hiring students from just the top colleges and universities. The company was founded six months after Bansal stepped down as the CEO of Flipkart.

What is the age of Sachin Bansal?

40 years (August 5, 1981)
Sachin Bansal/Age

Why did Flipkart founders leave?

Until November, when Walmart issued a statement saying Flipkart co-founder Binny Bansal was leaving the company for failing to disclose ‘personal misconduct’.

Why did Binny Bansal leave Flipkart?

Flipkart, the India-based e-commerce firm owned by Walmart, has lost its Group CEO Binny Bansal after he resigned from the company following an investigation into “serious personal misconduct.”

Who is the CEO of Flipkart?

This photo taken on May 9, 2018 shows Walmart CEO Doug McMillon (R) speaking next to Flipkart co-founder and CEO Binny Bansal at an event in Bangalore, as a deal was announced for Walmart to buy a stake in Flipkart (Photo by AFP/Getty Images)

Who is Sandeep Bansal?

Alongside Flipkart CEO Kalyan Krishnamurthy and Tiger Global’s Lee Fixel, Bansal was widely seen as a key figure in securing the deal that saw Walmart agree to fork out $16 billion for a majority 77 percent stake in Flipkart.

What did Walmart say about the allegations made against Bansal?

Walmart said in a statement that Bansal denied the allegation and that an investigation into it “did not find evidence to corroborate the complainant’s assertions.”