Binny Bansal Founder of Flipkart

One of the founders of the E-commerce start-up Flipkart, is Binny Bansal and the other is Sachin Bansal – no relation. In 2007, the two started the online bookstore with their savings of $10,000. They used their apartment in Bangalore for their data center.

Both of the Bansals had worked for Amazon together and told investors that their start-up would be worth $100 million in ten years. At the time the valuation on the company Flipkart seemed arrogant, but it turned out to be modest, as the company as reached a $13 billion valuation and 75 million users.

As billionaires, both Binny and Sachin live modestly. However, they are also big dreamers, realists, and great tacticians. The two have tackled one of the biggest, untapped markets in the e-commerce universe – the Indian marketplace – bigger than the United States and not as regulated as China. Now Flipkart will have to compete against Alibaba and Amazon for market share, but they are making a name for themselves.

Binny Bansal went to the Indian Institute of Technology in Delhi where he obtained a degree in Engineering and Computer Science. In 2016, he was named one of the 100 most influential people in the world by Time magazine.

The masculine name Binny is a diminutive of the name Benny that probably means “Son of the South” or “Blessed” and is of Indian or English origin. There are only a few notable people with the name, like Binny Yanga the Indian social worker.