Mumbai: Binny Bansal, who recently divested his remaining stake in the e-commerce giant Flipkart, is actively working on launching a new startup, Moneycontrol reported.
Walmarts shareholding in Flipkart is likely to rise to around 80%, strengthening its ownership of the Indian ecommerce firm, as cofounder Binny Bansal and other minority investors sell more shares to the Bentonville, US-based retailer, according to regulatory filings in Singapore, accessed by ET.
Bansals exit marks the end of the founding entrepreneurs association with one of the most storied Indian consumer internet startups over the past decade.