Binny Bansal
Binny Bansal is an Indian entrepreneur who co-founded the e-commerce company FlipkartFlipkartFlipkart is a Bengaluru-based Indian e-commerce group that Sachin Bansal and Binny Bansal started as an online bookstore in 2007. Walmart took a majority stake in 2018, and the group completed its redomiciliation to India in 2026 as it prepares for an Indian listing.Open the full entry with Sachin BansalSachin BansalSachin Bansal is an Indian entrepreneur who co-founded the e-commerce company Flipkart with Binny Bansal in 2007, left in 2018 to found the fintech group Navi, and has been Navi’s executive chairman since 2025.Open the full entry in 2007 and served as its CEO and group CEO until resigning in 2018. He later co-founded xto10x and founded the cross-border e-commerce company OppDoor.
Contents12 sections
Key facts
2005Graduates from IIT Delhi
Binny Bansal earned a B.Tech in computer science and engineering from the Indian Institute of Technology Delhi in 2005.[1]
2007Co-founds Flipkart with Sachin Bansal
A former Amazon software engineer, Binny Bansal founded Flipkart with his friend Sachin Bansal in 2007 as an online seller of books, operating at first out of their apartment.[2]
2016–2017CEO and Group CEO
Bansal became Flipkart’s CEO in 2016 and group CEO a year later, overseeing e-commerce, fashion and payments.[3]
He helped Flipkart acquire PhonePe in 2016 and sat on PhonePe’s board from then on.[4]
May 9, 2018Walmart Investment
When Walmart announced its investment in May 2018, Bansal said “WalmartWalmartWalmart is an American retailer founded by Sam Walton in 1962, with businesses spanning physical retail, membership warehouse clubs, e-commerce and related services. Its businesses include Walmart and Sam’s Club, and it has expanded into other markets through international investments; its shares trade on Nasdaq under the ticker WMT.Open the full entry is the ideal partner for the next phase of our journey.”[5]
November 13, 2018Resigns as Group CEO
On November 13, 2018, Bansal resigned after an investigation into an allegation of “serious personal misconduct.” Walmart said the inquiry “did not find evidence to corroborate the complainant’s assertions” but found lapses in judgement, particularly a lack of transparency; Walmart said Bansal denied the allegation.[3]
2019Launches xto10x
In February 2019 Bansal and former colleague Saikiran Krishnamurthy launched the startup consultancy xto10x Technologies, aiming to help 10,000 early- and mid-stage founders; he still held about 4% of Flipkart and was not involved in day-to-day operations.[6]
At xto10x Bansal is co-founder and chairman, while Saikiran Krishnamurthy, who spent 15 years at McKinsey & CompanyMcKinsey & CompanyMcKinsey & Company is a management consulting firm headquartered in New York, United States. It was founded in Chicago in 1926 by University of Chicago professor James O. McKinsey and, after Marvin Bower established its “professional service” principles, grew into one of the largest pure consulting firms in the world; as of October 2026 it has more than 100 offices in over 50 countries and about 40,000 employees. It has also repeatedly faced regulatory investigations and public criticism over episodes such as its work with Enron, a former leader’s insider trading case, and its consulting for opioid manufacturers.Open the full entry, is co-founder and CEO.[7]
That year IIT Delhi gave him its Distinguished Alumni Award for contributions to entrepreneurship and corporate business development.[1]
2023Sells Remaining Flipkart Stake and Starts OppDoor
In 2023 Bansal sold his remaining 1.8% stake in Flipkart to Walmart.[2]
In late 2023 he launched the cross-border e-commerce startup OppDoor.[8]
2024Leaves the Flipkart and PhonePe Boards
In January 2024 Bansal resigned from Flipkart’s board, saying his new venture OppDoor created a conflict of interest, and said “I am proud of the Flipkart Group’s achievements over the past 16 years.”[8]
In November 2024 he left PhonePe’s board; neither side gave a reason.[4]
December 2025IIT Delhi Names Exhibition Hall
In December 2025 IIT Delhi said it would name the ground-floor exhibition hall on its New Delhi campus the “Binny Bansal Exhibition Hall,” recognising the largest-ever unrestricted individual donation to the institute, made through the IIT Delhi Endowment Fund.[9]
As of October 2026: Personal Life
Binny Bansal is married with two children and lives in Singapore.[2]
Related Organizations, Websites, and Public Accounts
Flipkart: Official website: https://www.flipkart.com/ (opens in a new window)[2]
PhonePe: Official website: https://www.phonepe.com/ (opens in a new window)[10]
xto10x: Official website: https://www.xto10x.com/ (opens in a new window)[7]
Sources
- Distinguished Alumni Awards (opens in a new window)
- Binny Bansal (opens in a new window)
- Flipkart CEO Binny Bansal resigns over allegations of ‘serious personal misconduct’ (opens in a new window)
- Flipkart co-founder Binny Bansal leaves PhonePe’s board (opens in a new window)
- Walmart to Invest in Flipkart Group, India’s Innovative eCommerce Company (opens in a new window)
- Ousted Flipkart founder Binny Bansal aims to help 10,000 Indian founders with new venture (opens in a new window)
- About Us (opens in a new window)
- Flipkart co-founder Binny Bansal leaves board (opens in a new window)
- IIT Delhi names exhibition hall after Flipkart co-founder and alumnus Binny Bansal (opens in a new window)
- About Us (opens in a new window)