The Poster Boy of Indian Startup is back with bang and registered new company.
20th, December 2018 - Startup community
Sachin Bansal is a famous a name in Indian Startup Ecosystem who has inspired many Indian to think about Startup. When Flipkart was taken over by Walmart, Sachin Bansal was made to resign from his own company. Now the entire Indian Startup ecosystem was waiting for his return.
As per the latest report, Sachin Bansal along with former investment banker Ankit Agarwal has registered a non-government private company - BAC Acquisitions Private Limited on December 10, according to data from the Registrar of Companies (RoC). While the nature of its business is unclear, BAC Acquisitions appears to be a holding company.
Flipkart’s acquisition is a one of the most significant transaction in Indian market where Walmart acquired majority stake at $16 billion earlier this year. Sachin, the company's Co-founder and the then Executive Chairman, left Flipkart after selling his 5.5 percent stake for a reported $800 million-$1 billion. Since then, reports surfaced that Sachin was allegedly forced to leave Flipkart following a disagreement over his role post the acquisition.
Flipkart’s journey looks like a filmy where two twenty-something boys from Chandigarh, who scripted one of the biggest success stories of the Indian Startup Ecosystem. They forced global players to turn their attention to India – in particular, the immense growth opportunities and possibilities in the market.
Now his announcement to come back is a big cheer for Indian Startup ecosystem, and it is interesting to see his new venture succeed.
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