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Binny Bansal, who had sold off his remaining stake in Flipkart recently, is planning a new start-up, according to a report by Money Control.
Bansal has plans to incubate a startup in the cross-border e-commerce space which shall provide design, product and manpower support to Indian and global e-commerce companies.
“Think of it like a KPO or a knowledge process outsourcing firm for e-commerce. The idea is to build a global firm that can work with commerce companies and provide them backend support,” one of the sources from Money Control’s report had said.
Quoting sources, the report said that Bansal shall not be loking at raising external funds but would invest his own capital in the new venture. Bansal had received $1-$1.5 billion from his shareholding in Flipkart.
Sachin and Binny, who had done their B.Tech degree in computer science and engineering from IIT Delhi in 2005, had built Flipkart, one of the most influential e-commerce Indian marketplaces. Last month, retail behemoth Walmart gave $1.4 billion to acquire VC form Tiger Global’s remaining shares in Flipkart. According to a Wall Street Journal report, Walmart has paid the money to give a push to Flipkart’s stake.
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