Flipkart co-founder Sachin Bansal to focus on personal projects

Flipkart co-founder Sachin Bansal to focus on personal projects

In this file photo dated July 29, 2014, flipkart.com founders Sachin Bansal (R) and Binny Bansal at a press conference in Bengaluru. US retailer Walmart on Wednesday acquired 77% stake in Flipkart for $16 billion. PTI

Flipkart co-founder Sachin Bansal, who is leaving the ecommerce company post the buyout by Walmart, plans to focus on finishing a few personal projects.

"I will be taking some long time off and focus on finishing a few personal projects which I haven't been able to find time for. Will catch up on my coding skills," Sachin Bansal said in a Facebook post.

US retail giant Walmart Inc on Wednesday announced acquisition of 77% stake in Flipkart for $16 billion (Rs 1.07 lakh crore). Sachin Bansal had co-founded Flipkart with Binny Bansal (both are not related to each other) in 2007 and will be exiting the company by selling off his 5.96% stake to Walmart. While his co-founder Binny Bansal will continue in the company.

Bansal will get an estimated $1 billion (around Rs 6,731 crore) for the stake he is selling to Walmart in Flipkart. He was also the longest serving CEO of Flipkart and had remained absent on Wednesday, when the company announced the deal with Walmart.

"I will always cherish the relationships I've built and amazing experiences I've had," he said.

Sachin Bansal said he will be "cheering from the outside" and called upon employees of Flipkart to continue with the momentum. "Sadly, my work here is done and after 10 years, it's time to hand over the baton and move on from Flipkart. But I'll be watching and cheering from the outside -- Flipsters, you better continue to do a good job!", he said in post.

He said Flipkart truly upheld audacity and customer centricity and I got to work with the best people. "We took on some of the biggest challenges and solved many complex problems for India," Bansal added.