The creator of “Flipkart” and “Navi Group,” Sachin Bansal, is a true entrepreneur with the vision to solve issues and a track record of success that shows nothing can stop someone who is driven to achieve great things. But in order to accomplish this, he had to overcome several obstacles. Indeed, success might not be as thrilling as you had imagined. It is a package rather than just a shining component. The same is true of Mr. Sanjay Bansal’s tale. Let’s examine his success story in more detail.
Mr. Sachin Bansal, who is he?
Sachin Bansal is an Indian Entrepreneur known as Flipkart Founder. He and his co-founder Binny Bansal started an online book store in the year 2007 named Flipkart with an initial capital of ₹4,00,000. They started their initial operation in Koramangala Bangalore. Sachin Bansal was born in Chandigarh on 5th August 1981. His father is a businessman and mother is a homemaker.
The Childhood and Schooling of Mr. Sanjay Bansal
Saint Anne’s Convent School was where Sachin Bansal finished his education. He did well on his examinations and was a scholar. He was a gifted student, and his family valued education much. He put a lot of effort into his JEE preparation, placing 49th overall in the All India JEE rankings. He later gained admission to Delhi’s Indian Institute of Technology. He had once dreamed of becoming a professional gamer. Sachin Bansal became a software engineer shortly after receiving his degree in computer science engineering. Career
After graduating from IIT Delhi with a degree in engineering, Sachin started working for Techspan Company. After a few months of employment, Bansal received an offer from Amazon India to become a Senior Software Engineer. It was at Amazon that he learned about the intricacies of e-commerce. His friend Binny Bansal thereafter became a member of the team as well. They both decided to quit their employment in order to investigate the possibilities of e-commerce in India during the span of around six months.
The Tale of Flipkar
Sachin and Binny began considered building a comparison search engine in 2007. They left their position at Amazon Web Services to launch their e-commerce platform, Flipkart, after realizing there was a significant void in the Indian e-commerce market at the time.
With an initial investment of Rs 400,000, they launched their business, Flipkart, by selling books. because it was difficult to locate suppliers of electronics, clothing, or home goods in India at the time. Initially, even book sellers were hesitant to fully rely on an online platform like as Flipkart. Sachin Bansal became the company’s CEO at that point.
The company began operations in 2008 and became well-known among book readers, having an office in a two-room flat in Bangalore.
Investors started to take notice of Flipkart’s growing popularity, and in 2009 the company was able to acquire a $1 million cash investment from Accel Partners, an investment firm. The company employed more than 150 people and operated three offices around India at the time.
They were able to sell books for a total of Rs 40 million by the end of that year. Despite the unease Indian consumers had with internet purchasing at the time, Flipkart was able to win them over with its round-the-clock customer service.
Flipkart received a $10 million investment from Tiger Global in 2010; the business also purchased “WeRead,” a social book discovery service based in Bangalore. Flipkart began offering smartphones under the electronics section as book sales began to gain traction.
The company decided to provide cash on delivery for the first time in India since they did not see the expected level of success with it. Customers were able to trust the business as a result, and Flipkart’s sales boom kept up.