Binny Bansal Ventures into New E-Commerce Startup After Flipkart Exit

Binny Bansal, the co-founder of Flipkart, has set his sights on a fresh entrepreneurial endeavor after selling his stake in the e-commerce giant. He is currently developing plans for a new startup, focusing on the e-commerce domain.

Sources close to the situation have revealed that his new venture aims to offer essential design, product, and manpower support to both Indian and global e-commerce companies.

Innovative E-Commerce Support Model:

In contrast to his previous role at Flipkart, where he co-founded a consumer-facing internet firm, Binny Bansal's new startup will provide backend support services to commerce companies.

This concept resembles a Knowledge Process Outsourcing (KPO) firm tailored for the e-commerce sector. The aim is to create a global firm that collaborates with e-commerce companies to enhance their operational efficiency.

Leadership and Funding:

Binny Bansal is reportedly in the process of identifying a CEO to lead his new venture. Unlike Sachin Bansal, his Flipkart co-founder who is actively managing Navi, Binny plans to take a more hands-off approach to the daily operations of the startup.

He intends to finance the new venture using his own wealth, choosing not to seek external capital.

Post-Flipkart Initiatives:

Binny Bansal's decision to launch a new startup comes shortly after he exited Flipkart, the company he co-founded with Sachin Bansal in 2007. Since then, he has become a prolific angel investor, supporting numerous startups across various sectors. His investments include major players like PhonePe, Acko, Ather Energy, Curefoods, Cultfit, and Unacademy, among others.

Continued Involvement in Startup Ecosystem:

Binny Bansal's engagement with the startup ecosystem extends beyond angel investments. He co-founded xto10x, a platform designed to mentor upcoming startups and aid their business scaling efforts. Additionally, he operates his own venture capital firm, Three State Ventures, which is based in Singapore and focuses on backing new-age companies.

Conclusion:

Binny Bansal's foray into a new e-commerce startup marks his continued dedication to fostering innovation and growth within the startup ecosystem. His unique approach of providing backend support to e-commerce companies adds an innovative dimension to his entrepreneurial journey.