Reports suggest that Binny Bansal, co-founder of Flipkart, is considering the establishment of a startup in the cross-border ecommerce domain. This new venture will diverge from consumer-facing ecommerce and instead focus on offering ancillary services such as design, product, and manpower to ecommerce companies globally, as per sources cited by Moneycontrol.
Backend Support and Global Outreach
The proposed startup is envisioned as a knowledge process outsourcing (KPO) entity for ecommerce, providing backend support to commerce companies worldwide. Sources state that the goal is to construct a global firm capable of collaborating with ecommerce enterprises and furnishing them with essential support services.
Binny Bansal Self-Funded and CEO Hunt
Sources suggest that Binny Bansal intends to invest his personal capital into the startup. Presently, he is on the lookout for a Chief Executive Officer (CEO) to lead this new endeavor. The plan is for the company to operate as a self-sustained venture without external funding.
Post-Non-Compete Clause Era
This development aligns closely with the expiration of the five-year non-compete clause concerning the ecommerce sector that Bansal signed with Walmart during the acquisition of Flipkart in 2018. This milestone grants Bansal the freedom to launch a startup in the ever-expanding ecommerce landscape.
A New Chapter for Binny Bansal
Binny Bansal’s decision to initiate this startup venture follows his reported exit from Flipkart a couple of months ago. He cashed out his remaining stake in the company for a significant sum. In 2007, Binny Bansal co-founded Flipkart with Sachin Bansal. In 2018, he sold a majority stake to Walmart. Now, he’s into angel investing and has joined fundraising for several notable startups. India’s startup scene watches his new venture closely. He played a crucial role in Flipkart’s beginning and still wields influence.
Also Read The Latest News:
BYJU’S layoff 100 employees after performance review
Spartan Poker faces layoffs amidst 28% GST impact
