Binny, who exited Flipkart in November 2018, is said to have received about $1-$1.5 billion from his shareholding in the home-grown e-commerce giant.
In a latest, Binny is now looking to incubate a startup in the cross-border e-commerce segment, however unlike Flipkart – a consumer-facing internet entity, Binny is reportedly creating a startup that will provide design, product and manpower support to Indian and global e-commerce companies.
The report also affirmed that Binny is not looking for external funds and will most certainly bootstrap.
Citing one of the people privy to this development, the Moneycontrol report further said that the upcoming startup from Binny Bansal would be quite like a KPO (Knowledge Process Outsourcing) firm for e-commerce. "The idea is to build a global firm that can work with commerce companies and provide them backend support."
Moreover, Binny is also head-hunting for a CEO to run this new start-up venture. “While Binny (Bansal) will put his capital, he is not going to run the venture, unlike Sachin (Bansal, the other Flipkart co-founder), who is running Navi full time." said the report.
Last year, Binny Bansal sold his stake in Flipkart, which was worth $264 million (more than ₹2,000 crore), to Chinese Internet giant Tencent.
Last month, Walmart paid $1.4 billion to acquire VC firm Tiger Global's remaining stakes in Flipkart.
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