Its official now that Flipkart has been acquired by Walmart. The retail giant now owns 77 percent of Flipkart’s stakes at a price of $16 billion. This deal is the biggest e-commerce acquisition and the credit goes to the hard work of Sachin and Binny Bansal who together built a business empire that has been ruling Indian market from a long time now.
Sachin has decided to leave Flipkart after this deal and has sold his 5.5 percent stake to Walmart. Indian startup ecosystem is curious about Sachin’s future plans and he has given an idea with a farewell note on his Facebook account.
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.
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!
I’ll 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 gaming (and see what kids are playing these days) and brush up on my coding skills.
I will always cherish the relationships I’ve built and amazing experiences I’ve had.
Wishing all the best to the whole team.
the note read.
Sachin wants to take a rest from his busy life and will try to relax by playing games. He had the habit of enjoying PC games during his college life at IIT Delhi where he met Binny and the historical journey of Fipkart started.
He studied Computer Science at IIT Delhi and wants to polish his coding skills after this deal. His love for Flipkart will remain same and he said that he will continue to cheer and watch the company’s operations from outside.
Popular Indian entrepreneurs are guessing that Sachin will probably support other e-commerce platforms or will try to build a similar empire by backing startups focussing on latest technologies. Though no one knows what he has in mind, we can only hope that he continues his broad vision and contributes to Indian startup system in the same way as he has been doing from last decade.