He’s moving on from an episode that roiled India’s tech arena
Companies News: It’s been less than three months since Binny Bansal’s shock ouster from Flipkart, the e-commerce giant he founded over a decade ago. The entrepreneur once celebrated for jumpstarting India’s internet retail industry is now dedicating himself to helping other founders get their startups off the ground.
Bansal, who departed after Flipkart’s new owner Walmart Inc. investigated alleged personal misconduct, is now focused on xto10x Technologies, a startup he co-founded with former colleague Saikiran Krishnamurthy. It’s aimed at helping entrepreneurs navigate the often-tricky Indian startup scene. Binny Bansal’s already put together an early team, set up an office at a co-working space and even snagged several “leading” startup customers.
“I’m looking forward to the next chapter of my life,” the 37-year-old said in his first interview since the episode. “Person to person, I can help 10 startups but the ambition is to help 10,000 early and mid-stage entrepreneurs, not 10,” he said, seated across a table at a restaurant in a Bangalore neighborhood, not far from where he and Sachin Bansal (no relation) set up Flipkart in a two-room apartment to sell books. While Binny Bansal was his usual loquacious self, he mostly clammed up when the topic of his 2018 departure came up. That followed Walmart’s $16 billion acquisition of the company, a deal that stunned the domestic tech industry and made him and Sachin billionaires…
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