Early Life and Education
Sachin Bansal was born in Chandigarh, India, on August 5, 1981. He grew up in a middle-class family and demonstrated a strong aptitude for technology from a young age. After completing his schooling, he excelled in the IIT JEE exam, gaining admission to the prestigious Indian Institute of Technology (IIT) Delhi, where he pursued a degree in Computer Science and Engineering, graduating in 2005. During his education, he considered a career in gaming.
Rise to Success: Founding Flipkart
In October 2007, Sachin Bansal, along with Binny Bansal (no relation), co-founded Flipkart. Initially, the company operated as an online bookstore, running out of a small apartment in Bangalore. Sachin played a key role in managing various aspects of the business, including building the website, sourcing books, and handling deliveries. Under his leadership, Flipkart expanded into various product categories, quickly becoming a leading e-commerce platform in India.
Key Business Strategies
Bansal's leadership at Flipkart was characterized by a customer-centric approach. He implemented strategies like cash-on-delivery, easy returns, and a strong logistics network to build trust and convenience for customers, driving rapid growth. Flipkart’s “Big Billion Day” sale became a major shopping event, boosting sales and attracting a large customer base.
Walmart Acquisition and Exit
In 2018, Walmart acquired a 77% stake in Flipkart for $16 billion, one of the largest deals in the e-commerce sector at the time. Sachin Bansal sold his 5.5% stake for approximately $1 billion and exited the company.
Philanthropy
Information on specific philanthropy amounts is not readily available in the provided search results. However, it is known that Sachin Bansal has contributed to organizations.