Sachin Bansal, a software engineer, an internet entrepreneur and co-founder of e-commerce website Flipkart. Sachin belongs to Chandigarh, Punjab and was born on 5th August, 1981 (36). Sachin completed his schooling from St. Anne’s Convent School. After his schooling, Sachin pursued his Bachelor’s Degree in Computer Science from IIT Delhi. Sachin’s father’s name is Satya Prakash Agarwal, who has been in business and his mother is a housewife. Sachin’s brother runs a consumer goods company and Sachin is married to Priya Bansal, who is a dentist and they have a 4 year old kid.
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Before Flipkart, Sachin wanted to become a professional gamer. After completion of his degree, Sachin joined Techspan company, where he served for a few months. After that, Sachin joined Amazon.com as a Senior Software Engineer. At Amazon.com, Sachin met Binny Bansal, who has been his schoolmate and college mate as well but they were never too close. After 6 months, they both decided to leave Amazon. That was when Sachin and Binny decided to start India’s own e-commerce website.
Flipkart, the e-retail company that went on to become India’s first and biggest in less than 6 years. Sachin and his partner Binny started the company in an apartment with Rs. 4,00,000. Both of them used to deliver books to the customers themselves on their scooter. However, both of them dared to keep working on it as they wanted to make the Indian shopping style better than ever. Flipkart was only selling books in the beginning and later, after getting the permission for the credit card payment gateway, Flipkart expanded and started selling electronics and lifestyle goods.
Flipkart is currently among the top 10 e-commerce website in India. The giant e-commerce company presently employs over 9000 efficient employees. In the first few years of its existence Flipkart raised funds through venture capital funding. When Flipkart was launched, not many people preferred online payment, Flipkart was the first to implement “Cash On Delivery” facility.
Later, in 2012, Flipkart acquired Letsbuy.com for an estimated US $25 Million. After this Flipkart bought Myntra for US $20 Billion. Flipkart went on a spree of buying all those new start ups which could help the company to grow faster. Flipkart even offered $700-800 million to Snapdeal but Snapdeal rejected the offer as they wanted a sum of minimum $1 Billion. As of April 2017, the company was valued at $11.6 Billion.
Sachin Bansal worked as the CEO of the company. After Sachin, Binny sat on the chair of the CEO and Sachin admitted that he was replaced with Binny due to his performance.
As per said reports, Sachin said,
Look at the top level around you. Everyone has changed. In fact, even I am gone,”
Then, after Binny, Kalyan Krishnamurthy became the CEO of the company.
In 2012-13, Sachin was awarded ET Awards 2013, Entrepreneur Of The Year.
In November 2015, Sachin was named the 86th richest person in India with a Net Worth of $1.3 Billion in Forbes India Rich List.
The Straits Times of Singapore has chosen Sachin Bansal for the prestigious “2016 Asian of the Year” as part of a group called the “The Disruptors”.
Later in 2017, India Today Magazine ranked him #26 in India’s 50 most powerful people 2017 list.
Sachin Bansal has accounts on Twitter and LinkedIn. He does not seem like a guy who shares everything on his social media accounts.
Twitter: https://twitter.com/_sachinbansal?lang=en
LinkedIn: https://www.linkedin.com/in/sachinbansal/
Sachin’s Basic salary is Rs. 50 Lakh, which is not inclusive of bonuses and shareholdings, taking their earnings to more than 1 Million USD. With the company valuation pegged at $15 billion in 2015, a net worth of $1.7 Billion with a 7.5% stake in the company. Considering the way in which Flipkart has been growing and the general meteoric growth of e-commerce in India, Sachin’s dream is to see that Flipkart reaches a turnover of $100 billion within the next few years.
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