Flipkart co-founder Binny Bansal has resigned from the e-commerce giant’s board, citing a conflict of interest with his new cross-border e-commerce venture, OppDoor. Binny, who retained the option to stay on the board, recently sold his entire stake in Flipkart ahead of the impending IPO.
The departure follows Sachin Bansal’s exit in 2018, with Binny now focusing on OppDoor. The startup provides comprehensive solutions, including market analysis, inventory management, and logistics. Despite stepping down, Binny maintains his position on the board of PhonePe and continues his active role as an investor.
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In a statement, Binny expressed pride in Flipkart’s achievements and confidence in its future. Flipkart CEO Kalyan Krishnamurthy acknowledged Binny’s contribution and wished him success in his new venture, recognizing his impact on India’s retail ecosystem.
As Binny embarks on his entrepreneurial journey with OppDoor, Flipkart remains in capable hands, poised for growth under strong leadership.
