Binny Bansal, one of the co founders of Flipkart, led quite an interesting life before becoming one of the most sought after entrepreneurs in India. For Binny Bansal, Flipkart came into existence not because it was his dream project, but because Google refused to give him a job!
The early life
Back in the day, Binny Bansal’s primary love was technology and anything to do with technology. In fact, he loved the machine world so much, he even took a couple of courses on artificial intelligence and machine learning. Fresh out of IIT Delhi, Bansal realised his friends were all getting placed in various high paying jobs. While he did apply to these jobs, nothing excited him. This was when he knew he was right about the first love of his life: technology!
Taking the choice to jump from working for a MNC to working for himself was a tough choice for Binny. While there was a strong sense of comfort and satisfaction in taking home a regular package, that spark of excitement was missing. When he was introduced to Sachin Bansal, Binny realised he had finally found his calling! Despite an e commerce platform not being his first choice, Binny Bansal knew he was finally working on something he loved.
The beginning of Flipkart
The beginning days of Flipkart were hard. Binny and his partner worked out of a one bedroom apartment, with no real help. The first challenge Binny and his partner, Sachin Bansal, faced was to convince people to invest in their idea. Out of the 40 bookstores they approached, only two people agreed. With the salary Binny had saved from his previous job, the Bansals kicked off Flipkart. Despite having a steady cash flow, getting people to find out about their business was slightly tough. The Bansals sold less than 10 books during the initial Flipkart period.
While initially starting off only as a book delivery platform, the idea of Flipkart started spreading and Binny realised the time had come to expand the company’s product range. One of the key reasons for Flipkart’s massive growth is that both the Bansals decided to never run out of cash. Only when they had enough money and bandwidth for another category, would they decide to expand their services. Through the years, Binny Bansal helped grow Flipkart so much, it started competing with the likes of established platforms like Amazon, Big Basket and Alibaba.
Even though Binny and his partner did not have the kind of technological capabilities which today’s entrepreneurs have, they were always a step ahead of their game. Every move Binny took was to better Flipkart’s overall growth. With his heart invested in finding the right kind of investors for his business, to growing it one job at a time, Binny turned Flipkart into the largest e commerce platforms not just in India all over the world as well!
When Flipkart was in talks of being acquired by Walmart, there was nothing being said about one of the founders leaving the platform. Which is why the news of the exit was such a massive shocker!
Binny Bansal and life after Flipkart
Despite quitting Flipkart, the man who gave birth to it refused to stop being an entrepreneur. Bansal is now working on a different startup and is also helping about 10,000 startups grow and become the next Flipkarts of India!
Founded and funded by Bansal and ex McKinsey consultant Saikiran Krishnamurthy, this startup aims at targeting series B and C startups and will offer them help by giving them software tools. By helping these startups grow, Binny Bansal has made sure to use the tools he learnt during his Flipkart days for the betterment of people who are working on their own startups!
From being rejected by investors, to quitting the Company to which he gave birth and to starting out on the journey of helping other startups, Binny Bansal has lived through a lot. If you think we missed out on any other life facts about Binny Bansal, comment and let us know!
Burt’s Bees Founding Story
Burt’s Bees is a famous American personal care products company known for using all natural ingredients in its products. The Company was founded in 1984 in Maine under some unlikely circumstances. Burt’s Bees was founded by Burt Shavitz, a photographer turned beekeeper and Roxanne Quimby, a candle maker.
Burt Shavitz, whose face has been gracing all Burt’s Bees products since the Company was founded, was a famous photojournalist who had his photographs featured in Time and Life magazines. Shavitz considered his life unfulfilled in the city of Manhattan and escaped to rural Maine, where he started a honey business. During this time, Shavitz met Roxanne Quimby, an artist and candle maker.
The two struck up a partnership to start a candle making business using the beeswax from Burt Shavitz’s honey business. They started the business with an investment of $ 200 in an abandoned one room schoolhouse. Shavitz and Quimby started selling their beeswax candles at a high school craft fair. The business flourished and within a year, the duo made a $ 20,000 profit. In 1989, they increased their production after getting a large order from a New York boutique and moved their headquarters to an abandoned bowling alley.
During this time, Quimby came across a 19th century beekeeping book which included homemade personal care recipes using beeswax. This prompted the Company to change its direction from candle making to personal care products. Burt’s Bees became a legal corporation in 1991 and introduced the most famous product of the Company, Burt’s Bees lip balm. By 1993, the Company’s main focus was exclusively on personal care products. The Company slowly started expanding to international market and started selling its product in Japan by the late 1990s.
However, during this time, Roxanne Quimby forced Shavitz out of the Company over personal issues. In 1999, Quimby bought Shavitz’s stake of the Company and offered him a $ 130,000 house in Maine. Quimby went on to sell the Company to the Clorox Corporation in 2007 for $ 925 million.
Now, after 35 years since its inception, Burt’s Bees is still a popular brand, selling more than 100 products under its name. The success of Burt’s Bees also made its founders, who were just small business owners earlier, millionaires.
Michael Dell Unknown Facts
Michael Sull Dell, the founder and CEO of Dell Technologies, is a well known businessman and philanthropist. He is also considered one of the most powerful figures by several magazines. Here are some lesser known facts about Michael Dell.
Unknown facts about Michael Dell
1) Michael Dell, in an effort to enter the business world early, took a high school equivalency exam at the age of 8.
2) Like many self made billionaires, Michael Dell had a humble beginning and worked part time as a dishwasher at a restaurant and sold subscriptions of the Houston Post during his high school days.
3) Michael Dell started his first business when he was 12 and formed a marketing company which offered national stamp auction through mail. The business was a profitable one, with Dell earning $ 2000 from it.
4) Michael Dell’s very first computer was an Apple II, which he later tore apart in order to see how the inside of the computer worked.
5) Even though Michael Dell is known as a tech giant, he attended college as a pre med student. While at college, Dell started an informal business and eventually dropped out, after his business became a success.
6) Dell set a new record in the city of Manhattan when he purchased a penthouse at One57 skyscraper for $ 100.47 million.
7) Michael Dell is not just a businessman and philanthropist, but also an author. Dell collaborated with author Catherine Fredman to write a book Direct from Dell: Strategies that Revolutionized an Industry, which describes Dell’s business journey.
Michael Dell climbed the ladder of success at an early age, with his focus and dedication. Now worth $ 35 billion, he is an inspiration to many entrepreneurs.
Which of these facts about Michael Dell did you find interesting? Comment below and let us know.
Coco Chanel Most Inspiring Quotes
Gabrielle Bonheur Chanel, known to the world as Coco Chanel, was a French designer and founder of the Chanel brand. Known for revolutionising the fashion industry, Coco Chanel still remains one of the most influential people in the world. Here are the 7 most inspiring quotes by Coco Chanel.
Most inspiring quotes by Coco Chanel
1) About wasting time
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If something does not work out, move on and try something new. . . #StartupStories #StartupLife #FactOfTheDay #MondayMotivation #GrowthTips #LifeHack #motivationalspeakers #motivationalquotes #inspirationalquotes #inspiration #success #successmindset #believeinyourself #believe #entrepreneur #entrepreneurship #entrepreneurgoals#instadaily #instainspire
2) About success
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If you believe you are going to be successful, then you are already halfway there. . . #StartupStories #StartupLife #FactOfTheDay #FridayFacts #cocochanel #GrowthTips #LifeHack #motivationalspeakers #motivationalquotes #inspirationalquotes #inspiration #success #successmindset #believeinyourself #believe #entrepreneur #entrepreneurship #entrepreneurgoals#instadaily #instainspire
3) About being unique
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Don't be afraid of being different! . . #StartupStories #SuccessStories -#GrowthTips #LifeHacks #StartupLife #CocoChannel #ThursdayThoughts #entrepreneur #entrepreneurquotes #entrepreneurmindset #entrepreneurlifestyle #entrepreneurship #entrepreneurslife #motivation #motivationalquote #motivationalquotes #motivationalquoteoftheday #inspirationalquotes #instainspiration #startupmindset #success #successstories #successquotes #successtips #successmantra #instamood
4) About being courageous
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How often have you thought for yourself? . . #StartupStories #CocoChanel #chanel #MotivationalQuotes #MondayMotivation #startups #startuptips #startuplife #startupgrind #startupmindset #success #successstories #successquotes #successtips #successmantra #entrepreneur #entrepreneurquotes #entrepreneurmindset #entrepreneurlifestyle #entrepreneurship #entrepreneurslife #motivation #motivationalquote #motivationalquotes #motivationalquoteoftheday #inspirationalquotes #instainspiration
5) About changing your life
6) About growth
7) About change
Coco Chanel, through her creative vision, showed the world fashion is more important than beauty. Everything she created was aimed at making women’s lives a little bit easier and better.
Which of these quotes by Coco Chanel inspired you the most? Comment below and let us know.
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