In a silent move, while a number of stakeholders have joined the boardroom of Flipkart, its founders Sachin Bansal and Binny Bansal have formed a new company named Sabin Advisors, the name is derived from their founding member’s names-Sachin and Binny. Although further details are not yet available, there is a possibility that the cofounders might route their investments through this venture and look at other businesses over a period of time.
The co-founders have invested in seven and 17 ventures with a total funding amounting to $26 million and $32 million respectively. The existing portfolio of investment includes a range of startups across different domains like Unacademy, Ather Energy, Sightuple and Inshorts among others.
Billion is a private label which was launched by Flipkart last year and is handled by a separate team which reports to Sachin Bansal whereas the rest of the six private labels are headed by Adarsh Menon who currently reports to Kalyan Krishnamurthy. Additionally, Billion does not have Flipkart name attached to it like many other private labels. Some of the other startup investments include Zopper, Roposo, Sheroes, Tracxn, Nanosystem, News in Shorts and Wrig.
Both the co-founders have got hands on experience in the early stage startups. The design and other details about Sabin Advisors is yet to be revealed. It will also be interesting to watch the future role of the co-founders in Flipkart now. Tiger Global has already sold their significant stake to SoftBank, the control is now titled to Tencent, SoftBank, Microsoft and eBay.