Early Life
Binny Bansal was born in Chandigarh, India, in 1982 or 1983. He completed his schooling at St. Anne's Convent School in Chandigarh. His father was a bank chief manager, and his mother worked in the government sector. He graduated from the Indian Institute of Technology (IIT) Delhi with a degree in Computer Science and Engineering in 2005.
Rise to Success
After graduating from IIT Delhi, Bansal worked at Sarnoff Corporation for a year and a half. In 2007, he joined Amazon as a software engineer, but left after a few months to co-found Flipkart with Sachin Bansal. Flipkart started as an online bookstore in 2007, funded with $6,000 from their savings. Under his leadership, Flipkart expanded into various categories and became a leading e-commerce platform in India. Binny served as COO until January 2016, then CEO, and later Group CEO in January 2017. In 2018, Walmart acquired a 77% stake in Flipkart. Bansal resigned from Flipkart in November 2018. He later sold his remaining stake to Walmart in 2023.
Key Business Strategies
Binny Bansal, along with Sachin Bansal, introduced innovations like Cash on Delivery, and focused on customer experience. They expanded the product range and built a robust logistics network, including Ekart.
Philanthropy
In 2019, Binny Bansal invested 125 crores (approximately $15 million) in the endowment fund of IIT Delhi.