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Flipkart The next act of co-founder, Binny Bansal, aims to help the next generation of startup founders in India.
Bansal has already written its name in the history of business creation in India after US retail giant Walmart paid $ 16 billion to take a majority stake in its e-commerce business to strengthen his rivalry with Amazon. Things went wrong, however, when he resigned several months after the finalization of the operation, following an investigation into "serious professional misconduct".
In 2019, Bansal, 37, is focusing on his new venture, xto10x Technologies, a start-up consulting company that he founded with his former colleague Saikiran Krishnamurthy. The goal is to help founders of startups on a larger scale than a leader could do alone.
"Person to person, I can help 10 startups, but the ambition is to help 10,000 beginner and intermediate entrepreneurs, not 10," Bansal told Bloomberg in an interview.
Bansal, who started Flipkart in 2007 with Sachin Bansal (Unrelated) and still retains a 4% share, Bloomberg said that India-based founders lack quality software and consulting services to manage the growth and construction of companies.
"Today, software is designed for large companies and not for small start-ups," he told the publication. "Think of it as a solution for startups what Amazon Web Services did it for IT, helping businesses go from scratch to a thousand servers overnight, hbadle-free. "
"Instead of making a thousand mistakes, if we can help other startups to make a hundred, even a few hundred, it would be worth it," Bansal added.
Bansal was CEO of Flipkart from 2007 to 2016 before becoming CEO of Flipkart Group. He declined to explain in more detail the complaint to Flipkart against him – which, according to some reports, resulted from a consensual relationship with an employee – and the break-up of his relationship with Sachin Bansal. to something else.
It is not fair xto10x Technologies that keeps it busy. Bansal is involved in an investment business 021 Capital where he is the main support next a $ 50 million injection. Bloomberg said neither of his roles requires day-to-day operations, but Bansal continues to sow his money and experience to shape the ecosystem of Indian start-ups.
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