Binny Bansal, co-founder of Flipkart, has resigned from the board of the Walmart-owned e-commerce giant, marking the end of an era that began sixteen years ago with Sachin Bansal. Binny’s departure follows his sale of remaining stakes in Flipkart and coincides with his initiation of a new e-commerce venture named OppDoor.

In a statement, Binny expressed pride in Flipkart’s accomplishments and affirmed his confidence in the company’s future leadership. Leigh Hopkins, Executive Vice President of International Strategy & Development at Walmart, acknowledged Binny’s invaluable contributions to Flipkart since Walmart’s investment in 2018.

Kalyan Krishnamurthy, CEO of Flipkart, also expressed gratitude for Binny’s partnership and the insights he provided during the company’s growth and diversification.

Binny, along with Accel and Tiger Global Management, completed the full exit from Flipkart by selling their stakes to Walmart in August the previous year. His new venture, OppDoor, aims to assist e-commerce firms in expanding globally by offering comprehensive support services. Initially focusing on markets like the US, Canada, the UK, and others, OppDoor will provide backend support to e-commerce companies leveraging top platforms like Amazon.

In addition to his new venture, Binny remains active as an angel investor and continues to serve on the board of PhonePe. Flipkart, which began as an online bookstore in 2007, has evolved into one of India’s leading e-commerce platforms.

By : Kruthiga V S

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