 "Flipkart’s Bansals out of billionaire club")
Flipkart co-founders Sachin Bansal and Binny Bansal are no longer a part of the billionaire club after the company closed a $1.4-billion funding round.
The two men, in their mid-thirties, became India’s first start-up billionaires after Flipkart closed a $700-million round, at a valuation of $15.2 billion, in July 2015. Forbes had then reported they owned 7.5 per cent each in the company, making each of them worth $1.15 billion.
However, with Flipkart’s latest funding round seeing its valuation drop by a little over 23 per cent to $11.6 billion, and if the shareholding of each founder hasn’t changed, their
