Flipkart co-founder Sachin Bansal to sell his Rs 8574167410 stake in THIS company, plans to invest in...

Sachin Bansal, one of the co-founders of e-commerce website Flipkart, has plans to sell his stake in Ola, an app-based ride sharing cab service founded by Bhavish Aggarwal. His stake in ola is USD 100 million which Bansal invested in 2019.  

The million dollars deal will be based on the valuation, said a report by Economic Times. According to reports, Bansal valued the business at USD 4 billion and demanded a higher price. When Bansal made the investment, the company was worth USD 3 billion. 

Both Bansal and Aggarwal started their businesses to compete with Amazon and Uber, and they have now risen to the top of their respective industries—one is an e-commerce, and the other is an app-based transportation. According to the sources, other parties are also debating Bansal's plan to sell his share of the business.  

Zerodha purchased the Flipkart founder's share of Ather Energy.  

According to the sources, Bansal wants to concentrate on his fintech business, Navi. To fund his fintech business, he is selling his interest in Ola. According to reports, Bansal is also looking into ways to raise money from other sources, but a decision has not yet been made. According to the article, Navi is having trouble raising money from outside sources due to regulatory issues.  

Vanguard estimated Ola's value at USD 2 billion in August 2024, down from USD 7.3 billion in 2021.