Flipkart co-founder Binny Bansal has resigned from the e-commerce group's board, the two said on Saturday. The Bengaluru-headquartered startup's other co-founder Sachin Bansal left the board in 2018 after a tussle with investors. Binny Bansal, who reserved the right to stay on Flipkart's board for as long as he wants, cited conflict of interest with his new venture as the reason for the move. Bansal – who is also on PhonePe's board, a position he holds – has become a prolific investor in recent years, having backed several startups, including PhonePe. After leaving Flipkart, Sachin Bansal founded Navi, a financial services firm which is considering going public.

Source: Ethiopian News January 27, 2024 19:47 UTC