Flipkart marches towards being a $100 billion company
The devaluation or even the recent rounds of senior executive exits don’t seem to have lessened the impact that Sachin Bansal and Binny Bansal have created. The founders of Flipkart, which is ranked as India’s biggest e-commerce marketplace, have found a spot in the TIME 100 list – a list of 100 most influential people in the world.
Included under the ‘Titan’ section, the list has had some truly big names like Steve Jobs, Mark Zuckerberg, Wang Jianlin, Mohammed Bin Nayef, Tim Cook, Yuri Milner, Pope Francis, Pricilla Chan and Sundar Pichai to name a few.
A few months back, in September, the Bansals had made their debut on the country’s top 100 rich list as per Forbes magazine. It is to be noted that the Bansals are country’s first e-commerce billionaires as well. The Bansals made their debut at 86th position with a net worth of $1.3 billion each.
For close to 13 years now, the TIME list compiles the list of the world’s most influential men and women. Nancy Gibbs, Editor of TIME, states that while power is certain, influence is subtle. She added that as much as the exercise works towards chronicling the achievements made in the past year, the list also focusses on figures whose influence will most likely grow.
Speaking of being included in the list, Sachin and Binny Bansal say that this is a recognition of the Indian internet ecosystem and its role in using technology to solve Indian problems. They added that this acknowledgement comes as a validation of the work they are doing and it also reinforces the faith people have in Flipkart.
Some of the technology leaders who have been featured in the list include Sergey Brin, Steve Ballmer, Travis Kalanick and Larry Page.
An excerpt of the list says:
“Binny Bansal and Sachin Bansal (no relation) started Flipkart in 2007 as an online bookstore. For seed money, they pooled their savings: around $10,000. Their data center was their apartment in Bangalore. So it could have been the height of arrogance when the two Bansals, who had worked together at Amazon, told investors Flipkart could be worth $100 million in a decade.”