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.;
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.