We all heard about recently a $16 billion deal of Flipkart with Wallmart in which wallmart bought 77 per cent shares of Flipkart. Wallmart almost acquired Flipkart and take power from it’s Board members.
After some time Binny Bansal left it’s founded company Flipkart and took 5% stakes from Flipkart.
In a month after Binny Bansal’s sudden exit from Flipkart under a cloud,
the e-commerce firm’s co-founder prime supporter is prepared for his second innings.
He has held hands with previous McKinsey specialist Saikiran Krishnamurthy to dispatch an endeavour called xto10x Technologies. That will offer innovation devices, mentorship and counselling administrations on a self-serve model to Series B and C new businesses hoping to scale up. The Economic Times detailed Krishnamurthy recently headed Flipkart’s coordinations arm E-kart.
What is xto10x ?
xto10x will offer technology tools, innovation instruments, learning and counseling administrations to development organize new businesses which are hoping to scale up, sources near the advancement.
“The thought to launch this startup is to disturb customary counselling firms with tech-sponsored arrangements and devices which don’t require many accomplices,” an individual acquainted.
The Duo’s arrangement said. “They intend to help change item showcase fit and introductory business force into at-scale, balanced organizations, an issue being looked by numerous individuals in the Indian biological system. This they have acknowledged can’t be comprehended by capital alone.“
The tech organization, subsidized by the couple, is still at the idea arrange yet it is supposedly hoping to contract a group by January 2019 as it tries out its item with a grasp of new companies.
“The thought is to upset customary counseling firms with tech-sponsored arrangements and devices that don’t require many accomplices,” a source near the improvement told the day by day, clarifying that the endeavor needs to make another age counselling model for new businesses, a “blend of SAP, Coursera and McKinsey”.
The every day included that Binny Bansal – who holds a stable position on Flipkart’s board with nearly 5% stake – will be the official director while Krishnamurthy, known as Saiki among partners and companions, is probably going to be the CEO.
After taking shares from Flipkart in 2017, the last had made a beeline for McKinsey as a partial advisor and was along these lines reserved in by Ola to initiate its commercial center business. Krishnamurthy quit Ola in September and has been dealing with xto10x for as far back as a couple of months.
The Bengaluru-based endeavour in its present frame will have three stages of contributions. An item suite crosswise over methodology and information science to execution. A learning stage with curated courseware, occasions and reference cases. And the last one counselling and tutoring to encourage authors.
Check Kunal Shah Startup:-
As Kunal Shah’s Freecharge was sold to Snapdeal in 2015 in a deal of $400 million. After that Kunal begin to work on a new startup that is CRED which is launched last month. May we say it a Diwali gift to Indian Credit Card users. Freecharge Founder Kunal Shah’s New Startup Cred
This startup give users reward for using credit card So Kunal Shah’s CRED App rewards review and How it works?