The Story of Sachin Bansal’s Deal to Quit Flipkart – Another India Dream
Sachin Bansal One of the most popular entrepreneur in India, co-founder and the chairman of Flipkart Sachin Bansal has quitted from Flipkart on this year April because of the deal which offered by Walmart
Flipkart was sold to Walmart, Deal Worth is $16 Billion for 77 Percent Stake in Flipkart,
In this Deal, Sachin Bansal was Resigned from Flipkart and another co-founder Binny Bansal has Stayed as CEO of the Flipkart right now.
Anyway, another India dream is sold to American companies, Sachin Bansal and Binny Bansal were the first Indians to launch an e-commerce store in India and also an inspiration for soo many entrepreneurs.
Walmart is investing soo much money in India and Chief executive officer of Walmart, India – Krish lyer was told that
“We currently have 21 stores and plans to open 50 stores in 4 to 5 years. Plans are on track,”
This shows that Walmart is very interested to invest on India, While Walmart is getting 77 percent stake in Flipkart, the rest is in the hands of Binny Bansal and also including few others
And at some point, Sachin Bansal told he will don’t resign until the board agrees to his demands in Flipkart, But again after some time, he was resigned to It.
Now after Flipkart the most popular e-commerce website in India was Snapdeal it is an India Company
Commenting on Walmart’s decision to enter Indian e-commerce by buying Flipkart, the company CEO Doug McMillon said, “India is one of the most attractive retail markets in the world, given its size and growth rate, and our investment is an opportunity to partner with the company that is leading transformation of eCommerce in the market.”
Anyway, The Biggest Dream of India was sold to a Giant Company(Walmart) This is the biggest deal for an e-commerce website to sell for $16 Billion for 77 percent stakes. Now Binny Bansal is the Only CEO(Cheif Executive officer) of Flipkart They did Soo much hard work to raise their Company.
Please comment down if any Question is Persisting or Share any additional information if you know about Flipkart was sold to Walmart.