Sunday, December 4, 2016

Founders of @Flipkart @_sachinbansal & @binnybansal named 'Asian of the Year’ by @STcom of #Singapore

Sachin Bansal and Binny Bansal, founders of India's largest e-retailer Flipkart, have been chosen for the prestigious 2016 ‘Asian of the Year’ by Straits Times of Singapore as part of a group called the ‘The Disruptors’.

The Asian of the Year 2016 awards recognises entrepreneurs “operating at the frontiers of technology's interface with business” who have launched companies that have disrupted traditional business model for the benefit of end consumers. The other disruptors include the founders of Tencent, Go-Jek, Grab and Razer.

“We are truly humbled and honoured to be chosen for this award,” said Sachin Bansal and Binny Bansal in a joint statement. “It validates our commitment to creating a world-class internet company that is transforming the lives of Indians by making a high quality lifestyle affordable to them. Flipkart’s innovative steps, aimed at transforming commerce in India through technology, have truly disrupted the market and it makes us proud to be recognized for this achievement. We accept this honor on behalf of all Indians.”

Awarded since 2012, the ‘Asian of the Year’ award recognises “a person or people who have contributed significantly to improving lives at home or in the wider region”. In 2014, the award was given to India’s Prime Minister Mr. Narendra Modi and in 2015, it was awarded posthumously to Mr Lee Kuan Yew, Singapore's founding father.

Flipkart is India’s largest e-commerce marketplace. With a registered customer base of 100 million, Flipkart offers more than 80 million products across 80+ categories.Flipkart’s current valuation after the latest markdown by a mutual fund managed by Morgan Stanley stands at $5.54 billion.US-based investment group Vanguard valued Flipkart at $11 billion on 31st March 2016.