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Flipkart's Co-Founder to quit as Walmart takes the upper hand.

  • Sachin Bansal Co-founder and chairman is likely to quit as Walmart nears a deal to pick up majority stake of India's most valued Online Company.
  • Flipkart was started in Bengaluru as an online bookstore back in 2007 before going on to become a pre-dominant e-commerce company.
  • Walmart is keen on retaining on either one of the 2 founders Sachin Bansal or Binny Bansal. Sachin is most likely to leave but Binny will stay.
  • Though Sachin at the current scenario seems to leave, Walmart is holding on to Kalyan Krishnamurthy, the web retailer's present CEO.
  • Walmart is on the track of announcing a $8-10 billion deal to pick up a majority stake in flipkart over the next few days.
  • As per the recent developments there has been a difference of opinion between the 2 co-founders regarding the future of India's most valued Internet company.

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