Walmart-Flipkart deal: When Sachin Bansal had to return his referral bonus

Sachin Bansal (left) and Binny Bansal
It was close to $2,000 that Sachin Bansal had to repay to Amazon when Binny Bansal, his friend and future business partner, had left the company eight months after joining it. “Sachin had joined Amazon and recommended me, earning an employee recommendation bonus, which he had to soon return as I left Amazon in just eight months,” Binny Bansal, co-founder and group CEO, Flipkart, said on Thursday.

 

An emotional Binny shared this and many other stories about Sachin and their partnership a day after Walmart bought a 77 per cent stake in the Indian e-commerce firm. Sachin’s decision to exit Flipkart after its takeover by Walmart was a very emotional moment, Binny said at a select media briefing. Asked if he had tried to convince Sachin to stay on, Binny said it was an understatement.

 

Sachin was a year senior to Binny at IIT Delhi. “More than anything else, it is a very emotional moment for all of us. Sachin and I go a long way. We met in 2005 when we were passing out...Both of us have been sort of a pillar of support to each other,” he said, wishing Binny very best for his future endeavours.



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