This is a noticeable change in eCommerce leader Flipkart. Binny Bansal (COO and co-founder) will be the new Chief Executive Officer of Flipkart and Founder Sachin Bansal (CEO & co-founder) has now been appointed as the Executive Chairman in the company.
Sachin Bansal will now be focusing on his future investments and may try to help Indian startup ecosystem.
All the operations of Myntra, ekart and Flipkart will be overseen by Binny Bansal the new CEO. He might be on a mission to achieve profitability for flipkart which is making huge losses and to compete with amazon. All the eCommerce companies in India are making losses but for leader like flipkart where VC’s pumped huge money the practical exit route will be an IPO, for which company needs minimum three years of profitability.
However INDIANCEO congratulates Binny on NEW role.