Flipkart Management Reshuffle: Binny Bansal The New CEO, Sachin Bansal, the New Executive Chairman


Sachin Bansal Binny Bansal Flipkart

After 8 years being at the helm of Flipkart as CEO, Sachin Bansal has stepped down to take on the role of Executive Chairman. It will now be Binny Bansal, the other co-founder, who will take on the mantle of the new CEO of Flipkart. Binny was previously the COO of the company. Sachin will continue to be the Chairman of the Board.

It has been a dream run for the 2 co-founders, who started Flipkart about 9 years back from their small koramangala office in Bangalore – which has now become a behemoth and a light house eCommerce company in India.

Flipkart has till now raised close to USD 3.2 Billion in Funding  with a rough valuation of whopping 100,000 Crore (USD 15 billion). Here is the funding chart that shows how Flipkart has raised funds over last few years.

Flipkart funding rounds 8 rounds

After nearly 8 years being a CEO, it is probably fitting for Sachin Bansal to pass on the baton to Binny who can bring on new ideas and initiatives to drive Flipkart on next phase of growth.

The Roles

In his role as Executive Chairman of Flipkart, Sachin Bansal will provide strategic direction for Flipkart, mentor the senior leadership of the company and look for new investment opportunities. He will play an active role in championing the Indian e-commerce sector and building the internet ecosystem, and represent the company in external forums.

Binny as CEO will now be responsible for operationally driving the company and will be accountable for Flipkart’s overall performance. All the business areas – Commerce, Ekart and Myntra will now report to Binny. All Corporate functions including Human Resources, Finance, Legal, Corporate Communications and Corporate Development will also report to Binny.

The Speak

Sachin Bansal said, “E-commerce in India is going through its most exciting phase and Flipkart has played a pioneering role in shaping this very remarkable journey. We believe that Flipkart can play a transformational role in improving commerce in India and improve the quality of lives of millions of people across the farthest corners of the country. In this next phase of the journey, it will be our endeavour to fulfil this responsibility and prove that India can produce a world class internet company that can outshine any global behemoth. We also want to continue to play a pivotal role in shaping the internet and the commerce ecosystem of India.”

Binny Bansal said, “At Flipkart, we have come a long way in our eight year journey. Today, we are in a very strong leadership position with over 60% market share of the m-commerce market, 50 million customers and clear leadership in smartphones and fashion. The journey ahead is equally exciting and challenging. Flipkart has all the necessary ingredients of brilliant talent and great technology to win this next phase as well.  We will continue to build world-class customer experience, expand our supply chain infrastructure to reach all parts of India, drive innovations in mobile commerce and bring in disruptive technologies”

Best of luck to both of them in their new roles and hope Flipkart reaches even bigger heights!

  1. Ramesh bandgar says

    I have purchased but this mobile had hangingg problem I have complaint in 7th day for return then flipcart called and they told troubleshooting for solve problems but not solve problem now flipcart 10 days complete day ..now refuse for return mobile .they handled valid time magically now refuse .please return this mobile.actully I have regular custmer of flipcart

  2. Om Prakash Mohanty says

    Very poor & heart breaking service by flipkart. I have ordered
    Item Name: Vincent chase Aviator (Grey)
    Order Id: OD507090861703210000
    Order date & time: 17/09 I/19, 12:50AM
    Cancellation massage received date: 23/09/16
    Amount: Rs 750.00 ( Payment through Debit Card)
    Last 25 days i have sent mails to the mail id: [email protected]
    But still my amount is not credit. Lots of time follow up send, there is no actions taken.

  3. Shiv says

    Hi today i received my order but its empty. What the hell are you doing? Sealed already broken I show this to your delevery boy “Ashish” who delevery today asked him.deliver my product otherwise I go to consumer court for this as already i have complaint to you for my flip cover you cancelled this.. Now again? Is this a game?
    I’m item id OD105689967860541000
    Ordered data 07/04/2016
    Invoice No FOSVWDL17-1
    Courier company is Delevehary ??

  4. pankaj says

    I purchasd Lenovo yoga tab2 8″ on 3 November 2015 since from 10 december 2015 till 12 Jan 2016 Flip kart is not able to provide me the bill of Correct IMEI No. of table which had deliver to me. When i contact them they told me we dont have the IMEI no of product which they had deliver to me. So conclusion is that after 3 mounts of time they are unable to provide me the IMEI no of tab which they had deliver to me. so I worry that they are Selling the stolen product or Refurbish product in the name of new product. and today i got call that i should provide IMEI no of the product which i had revived. and if i dont give it then they will close the complain.

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