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Binny Bansal sells additional Flipkart shares for $14 Mn

Three months after selling shares worth $76.4 Mn, Flipkart cofounder Binny Bansal has sold additional shares to Tiger Global for $14 Mn. This could be a part of the accelerated share sale agreement at the time of the company’s acquisition by Walmart. As per the terms of his contract with Walmart, Bansal is entitled to sell more than half of his stake by August 2020 enabling him to raise $400 Mn. Since his exit, Bansal has taken up active role in the startup ecosystem as an angel investor. He founded a software and consulting venture Xto10X technologies.

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