Where Your Speech Is Free And Your Comment Is King - Post A Link

THE NEWS COMMENTER

VOTE  (0)  (0)

Flipkart founder: How I sold my business to Walmart for $16 billion


Added 05-20-19 11:02:02pm EST - “Binny Bansal, co-founder of Indian e-commerce giant Flipkart, says there are three traits that led to the business landing a record-breaking sale to retail giant Walmart.” - Cnbc.com

CLICK TO SHARE

Posted By TheNewsCommenter: From Cnbc.com: “Flipkart founder: How I sold my business to Walmart for $16 billion”. Below is an excerpt from the article.

In May of last year, the 37-year-old entrepreneurs sold a majority stake in their Indian shopping site, Flipkart, to U.S. retail giant Walmart for a record-breaking $16 billion.

The deal, which marks the largest e-commerce acquisition in history, valued the business at $22 billion and amassed the two friends an estimated net worth of $1 billion each.

That's not bad for a business that started just over a decade ago as a small online bookstore in India's Bangalore. But it might not have been if it weren't for three important attributes that set the young founders apart, Binny Bansal told CNBC's Christine Tan in a recent episode of "Managing Asia."

"I think there are too many things," Bansal said, when asked to what he attributes Flipkart's success. "(But) I'll name a few."

Firstly, and fundamentally, the duo were relentlessly focused on their business goal, Bansal told Tan.

Read more...

Post a comment.

CLICK TO SHARE

BACK TO THE HOME-PAGE