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!
Louis Vuitton Unknown Facts
Founded in 1854, the French fashion powerhouse Louis Vuitton rose to become the world’s most valuable luxury brand. Known for never having any of its product on sale, it is one of the most counterfeited brands in the world.
With its CEO Bernard Arnauld being declared world’s second richest man with a net worth of $ 108 billion, let’s look at some unknown facts about Louis Vuitton.
Unknown facts about Louis Vuitton
1) The founder of the luxury brand, Louis Vuitton, was the personal box maker and packer of Napoleon Bonaparte’s wife Empress Eugénie de Montijo.
2) The famous monogram of Louis Vuitton was created to fight counterfeit ones and served as inspiration for surreal artist Salvador Dali’s La Toile Daligram.
3) The most famous creation by the brand, Speedy, was originally launched as a travel case. It got its popularity after American icon Audrey Hepburn requested Vuitton to make a custom mini Speedy for her.
4) Mikhail Gorbachev, the last president of the U.S.S.R., once posed for a Louis Vuitton ad campaign.
5) American rapper Kanye West has mentioned Louis Vuitton more than 19 times in his songs.
6) Known for creating luxury bags and accessories, Louis Vuitton once created a collection of luxury pens. It also sells scrapbooks for people with extravagant taste.
7) The bags and jewellery of Louis Vuitton go through an intense durability test before being released to the public. Louis Vuitton bags are subjected to UV rays in an effort to increase the bags’ resistance to fading.
8) After every season, the unsold Louis Vuitton products are sent back to its factory in France and are shredded or burnt, in order to maintain the item’s value.
Considered one of the top luxury brands in the world, Louis Vuitton currently has a brand value of $ 47.2 billion.
Comment and let us know which of these facts impressed you the most.
Rupert Murdoch Unknown Facts
Rupert Murdoch is an Australian born businessman and the founder of News Corp, who turned media into a lucrative business empire. With holdings in The Wall Street Journal, HarperCollins, Fox News and 20th Century Fox, Murdoch is one of the richest people in the world. Here are some unknown facts about the media mogul who is considered the inventor of the modern tabloid.
Unknown facts about Rupert Murdoch
1. As an ambitious 7 year old, Rupert Murdoch would hunt water rats for their skin and manure, which he would then sell for sixpence in his town. He would use his earnings to gamble in school.
2. Murdoch was an excellent cricket player and led his school’s cricket team to National junior finals.
3. His journalism career began with the Adelaide News, which he took over after the death of his father at the age of 22. Rupert Murdoch transformed the failing business into a successful newspaper.
4. He once counter bid for a New Zealand local newspaper, The Dominion, at the spur of the moment during a vacation and ended up winning the bid.
5. He was once declared dead by his own newspaper, The Sun, after digital vigilante groups Anonymous and LulzSec hacked into the newspaper website and published an article, claiming Murdoch died because of drug overdose.
6. He has appeared in two episodes of the hit series The Simpsons and his entrance line was “I’m Rupert Murdoch, the billionaire tyrant, and this is my skybox.”
7. Murdoch has a bad intuition towards social media, which was proven when Myspace, which Murdoch bought for $ 580 million, had to be sold due to its poor performance. He also passed a chance to buy Twitter and warned investors against investing in it.
8. He was awarded a papal honour award, Knight Commander of the Order of Saint Gregory the Great, by John Paul II in January 1998.
9. He once launched world’s first iPad only daily newspaper app, named The Daily. Murdoch invested $ 30 million in building the app. The app eventually shut down as the company started losing money after the launch.
10. He was inducted into the TV Hall of Fame in 2014 for launching Fox Broadcasting Company and changing the television landscape with shows like The Simpsons and The X-Files.
With a career spanning almost 6 decades, Rupert Murdoch saw many failures and controversies, but overcame them all and is now worth $ 21.9 billion.
Women Scientists Turned Entrepreneurs
There are hundreds of innovations and discoveries born in the field of science and engineering every year in universities around the world. However, only a few of them are able to make it into commercial ventures. Today, we will be looking into women who turned their groundbreaking research into successful businesses.
1) Nina Tandon
Nina Tandon is a biomedical engineer and co founded the company Epibone. The main aim of the Company is to develop technology to develop bone reconstruction solution through stem cells. The Company creates bone tissues from a patient’s stem cells and grows them in vitro for use in bone grafts. Tandon serves as the CEO of Epibone and is also an adjunct professor of electrical engineering at the Cooper Union in New York. Tandon was named a TED Fellow in 2011 and a senior TED Fellow in 2012. In 2013, she received an award at the Marie Claire’s Women on Top Awards.
2) Anuradha Acharya
Anuradha Acharya is the founder and CEO of Mapmygenome, a company which focuses on preventive healthcare options through genome sequencing. She also founded another company called Ocimum Biosolutions, a genomics outsourcing company for discovery, development and diagnostics. In 2015, Mapmygenome made news for raising funds worth $ 1.1 million from a group of investors. Acharya was awarded the Entrepreneur of the Year award by the magazine Biospectrum in 2008. Her name was included in the 2018 W-power trailblazers by Forbes.
3) Sinead O’Sullivan
An aerospace engineer, Sinead O’Sullivan specialises in space technology and is currently the CEO of Avioptix, a company which captures, stores and analyzes real time data from satellites, drones and ground robotics. Her Company created the first ever platform to crowdsource drone data. Avioptix tailors their insights to the needs of their clients, supporting agriculture, oil and gas, insurance and NGOs.
4) Rana el Kaliouby
Rana el Kaliouby is a computer scientist and the co founder and CEO of Affectivia. Affectivia is an emotion measurement technology company which develops software to recognize human emotions based on facial expressions and physiological responses. As a research scientist at MIT, her initial focus was on ways to improve human-computer interaction, but she quickly realised the possibility of using the technology to improve human to human interaction, especially for those affected by autism. She was inducted into the Women in Engineering Hall of Fame and was mentioned in Forbes’ America’s Top 50 Women in Tech 2018.
These women serve as perfect examples and inspiration for women working in the STEM field to grow their research into a business empire. If we missed mentioning any such women scientists who turned into entrepreneurs, comment and let us know.
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