Sachin Bansal facts for kids
Quick facts for kids
Sachin Bansal
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| Born | 5 August 1981 Chandigarh, India
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| Alma mater | Indian Institute of Technology Delhi |
| Occupation | Businessman |
| Known for | Co-founder and CEO, Navi Group Founder and former CEO and chairman, Flipkart |
| Spouse(s) | Priya Bansal |
| Children | 1 |
Sachin Bansal (born 5 August 1981) is a well-known Indian businessman. He is most famous for starting Flipkart, a huge online shopping company. For over 11 years, Sachin Bansal was the CEO (Chief Executive Officer) and chairman of Flipkart. In 2018, he left Flipkart after it was sold to Walmart. Today, Sachin Bansal leads Navi Group, a company that offers financial services.
In 2007, Sachin Bansal and Binny Bansal (who is not related to him) started Flipkart. By 2018, Flipkart was worth over $20 billion! Sachin Bansal sold his share of Flipkart to Walmart, and at that time, his wealth was more than $1 billion.
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Early Life and Education
Sachin Bansal was born in Chandigarh, India, on 5 August 1981. His father was a businessman, and his mother was a homemaker.
He went to school at St. Anne's Convent School, Chandigarh. Later, he studied civil engineering at the Indian Institute of Technology Delhi, finishing in 2005. After college, Sachin worked at a company called Techspan for a few months. In 2006, he joined Amazon Web Services as a senior software engineer. In 2007, he left Amazon to start his own business.
Starting Flipkart
In October 2007, Sachin Bansal and his friend, Binny Bansal, started an online bookstore called Flipkart. They began with about ₹4,00,000 (which is about US$4,764). They first worked out of an apartment in Bangalore, India.
In the beginning, Sachin Bansal managed almost everything. He helped build the first website, found books to sell, and even packed and delivered them! He was the CEO of Flipkart until 2016. From 2016 to 2018, he was the Executive Chairman. In 2018, Flipkart was sold to Walmart, and Sachin Bansal left the company.
After Flipkart
After leaving Flipkart, Sachin Bansal started a new company in December 2018 called BACQ Acquisitions Private Limited. This company focused on creating and buying technology businesses in different areas.
Since 2014, Sachin has invested in many new, small companies in India. He often invests about $1 to $2 million in each. In 2019, he invested $100 million in Ola Cabs, a popular ride-sharing company. He has also invested in other companies like Grey Orange, Ather Energy, and Unacademy.
In December 2019, Sachin Bansal's company, Navi Technologies, bought a technology company called Maven Hive. Navi Technologies is a financial services company.
In 2020, Sachin's Navi Technologies also bought an insurance brand called COCO. In April 2020, Navi Technologies announced that Sachin Bansal would be its Managing Director. The company also raised money from investors. In March 2022, Navi Technologies planned to offer its shares to the public for the first time, which is called an IPO.
Awards and Recognition
Sachin Bansal has received many awards for his work:
- He was named "Entrepreneur of the Year" by The Economic Times.
- In 2015, Forbes India listed him as the 86th richest person in India.
- In 2016, Time Magazine included Sachin Bansal and his co-founder in their list of the 100 most influential people in the world.
- In 2017, India Today included Sachin Bansal and his co-founder in their list of India's 50 most powerful people.
Personal Life
Sachin Bansal is married to Priya Bansal Singh, who is a dentist. They have one son.
