https://timesofindia.indiatimes.com/people/flipkart-co-founder-likely-to-quit-after-walmart-takeover/articleshow/64022101.cms
https://www.businesstoday.in/current/corporate/flipkart-walmart-deal-amazon-acquire-75-stake-sachin-bansal-google/story/276234.html
Yesterday (04.05.2018) the leading newspapers and news channels (shared above are a couple of links) were rife with speculation that Sachin Bansal one of the co-founders of Flipkart may quit/exit Flipkart post-acquisition by Walmart.
If it at all his exit does happen it will be an end of an era. The Indian start-up scene can clearly be divided into pre and post-Flipkart eras. It's not that there were no start-ups in India before Flipkart happened (the low profile Turakhia brothers and Sridhar Vembu are case in point) but Flipkart went on to become the poster boy of the Indian startup scene and paved for others to follow. The success of Flipkart became a milestone and the start-up scene came too much talked about. There were calls and ideas floated of creating India's very own Silicon Valley. Several startups were floated and several others folded too, but Flipkart held on to its own. Seeing the ups and downs and still maintaining an edge over its globally stronger arch-rival Amazon, since its arrival in India.
Ironically there are news reports claiming Sachin Bansal and Softbank (one of Flipkart's investors) wanting to merge with Amazon. But with Walmart and Alphabet almost closing in on the deal, I think it makes sense for him to exit. On the other hand for the person who has seen and steered Flipkart in tough times, took some tough calls, stood up to stepping down as CEO to working with CEO Kalyan Krishnamurthy staying on may just another day in office. The question really is will he or won't he? How long will Binny Bansal (the other co-founder) stay put in the Walmart-Alphabet acquired entity only time will tell.
It certainly is an end of an era, because Flipkart without its founders, will no longer be the Flipkart it used to be.
Comments
Post a Comment