‘Flipkart founder Sachin Bansal may buy 10% in Ola for $100 mn’

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Bengaluru, Oct 11: Flipkart co-founder Sachin Bansal is in talks with Ola to invest about $100 million for a 10% stake in the cab hailing major.
Bansal will be buying new shares in the company, according to sources close to the development. The purchase may also include a small secondary component where he buys a part of shares held by some investors.
This will be the largest personal investment for Bansal, who has several early-stage bets under his hood.
In the past, he had invested in learning platform Unacademy, news app Inshorts and electric scooter-maker Ather Energy, to name a few companies. The potential deal suggests Bansal wants to remain clued into the country’s thriving internet entrepreneurial ecosystem, after he moved out of Flipkart, the e-commerce behemoth he co-founded in 2007.
Bansal’s departure from Flipkart was anything but amicable. Insiders say difference emerged between Bansal and the Flipkart management, led by majority shareholder Walmart Inc, over the future course of the company.
The US retailer had bought a 77 per cent stake in Flipkart in May, for $16 billion. Bansal sold his entire 5.5 per cent shareholding in Flipkart, a deal that is said to have made him $1 billion.
“Sachin is like a mentor to the start-ups he invests in. He does not like, and may not take in this case, a direct role in operations of the company (Ola),” the founder of a start-up, that counts Bansal among its investors, said requesting anonymity.

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