Sachin Bansal was not the one to stay after his company Flipkart was bought by Walmart. He took the door as early as he could and did not faze before cashing his shares. He now sits on loads of money after selling his stake in Flipkart. He is one of the wealthiest techies in the country and his partner Binny Bansal also sits on a huge sum of money. Sachin Bansal earned a staggering $1 billion in his buyout which is around INR 7000 crore.
When one is sitting on this kind of money, new ventures and investment is the only thing they should look at. Sachin Bansal, as of now, has invested minority of his money in Ola, the cab aggregator. He helped Bhavish Agarwal, the founder of Ola, out of a mess. Agarwal and Bansal have grown closer and because of this, Bansal has promised a $100 million investment in Ola, out of which he invested $21 million last month.
That said, Sachin has invested in a lot of small startups but his own venture was rumored to be around the corner. Well, it is here for all of us to see. Sachin Bansal has started a new venture and this is big news for everyone. The man who gave India Flipkart is now working on something which might be his new thing. BAC Acquisitions is his new venture.
Inc42 accessed the filings of Ministry of Corporate Affairs and have found out that Bansal has already started investing in the startup. According to the filings, on January 25, 2019, the company has given 50 lakh equity shares to Sachin Bansal.
Apart from this Bansal has invested around $7 million which is around INR 50 crore in BAC Acquisitions. The company now has around INR 7500 crore authorized share capital which amasses to around $1.05 billion.
That said, BAC acquisition is a company which has a unique way of working. According to Inc42, there are a lot of things that this company will do. It is all set to acquire, develop or guide a new business under its umbrella. The sectors of businesses which it will guide are also made of wide ranges and it will be hard for them to cope but they have taken the bait.
The company will make available technology platforms to companies from energy, media and entertainment, and also healthcare with data sciences. It will also develop platforms and help the companies optimize the automation side of the development.