Sachin Bansal, Co-founder of Flipkart has invested Rs.150 crore in home grown cab-hailing major ola cabs. Bansal left flipkart following Walmart’s acquisition last year. Sanchin Bansal is in talks with many Start-up companies to invest.
In October last year, the Bengaluru-based company had announced raising $1.1 billion funding from China’s Tencent Holdings and SoftBank Group. It had also stated that it was in “advanced talks” to close an additional $1 billion funding to take total mop-up to more than $2 billion.
Sachin Bansal :
Sachin Bansal, who co-founded Flipkart with his friend Binny Bansal in 2007, is estimated to have pocketed between $800 million (Rs. 5,381 crore) and $850 million (Rs.5,717 crore) from the acquisition, according to e-commerce analysts.
Bansal, who served as Flipkart’s CEO for nine years, held a 5.5% stake in the Bengaluru-based company before Walmart bought a 77% stake in it for $16 billion on May 09. Aged around 36, he was until recently Flipkart’s executive chairman.
Sanchin Bansal – Investment in Ola :
Bansal has taken up 70588 fully & compulsorily cumulative series J preference shares. The face value of the share is Rs.10 at a premium of Rs.21240 per share.
Ola has raised Rs.520 crore from existing investor Steadview Capital. Sanchin Bansal is also setup up a $1 billion fund, has invested in ola cabs in his individual capacity.
This investment is to be one of the biggest of Sachin Bansal. The investment comes at a time when ola is competing with the global rival Uber in India.
Sachin Bansal – other investments :
Investment in Ola is his larges disclosed investment till date. Prior to this investment, Sachin Bansal has been an active Angel investor.
Last month Sachin Bansal launched BAC Acquisition Pvt. Ltd. with investment Banker Ankit Agarwal. This venture is said to develop and provide services through IT-driven internet and mobile platforms. This venture also focus on energy, medial, retail, agriculture, financial services etc.
Sachin Bansal’s other investment include SigTuple, scooter startup Ather Energy and News aggregator Inshorts.