The co-founder of an e-commerce website is in the news after a report related to his new start-up went viral on social media. This co-founder is identified as Binny Bansal who is working to launch an Artificial Intelligence (AI) Start-up against its rivals Infosys and Tata Consultancy Services (TCS). His new start-up has started a debate on social media and people want to know more about his idea, how he is going to apply and what difference he will make with this new project or start-up who are already working on the same domain. It is not the first time Billionaire Binny Bansal has created such competition for its competitors.
Speaking about the current start-up of billionaire Binny Bansal, it is basically an AI-as-a-service that is laying its eyes on global clientele. Simply said, Binny Bansal is ready to capitalize on the demand for AI and begin his own AI start-up to serve corporate customers all across the globe. The new start-up of Bansal focuses on providing AI services, talent and products to corporations all around the world. This idea is quite similar to the model followed by mega IT providers such as Infosys and TCS. However, the official announcement regarding the new venture is yet to be made and this news has been shared by Bloomberg.
According to the reports of Bloomberg, the co-founder of Flipkart has appointed around 15 people who are working on it. Most of them are Artificial Intelligence scientists and Bansal is planning to add more new people who will work on this start-up. The hiring of more staff will occur within the upcoming months, but when exactly it will happen is not known. After establishing the remarkable growth in the Indian e-commerce landscape, it will be interesting to watch what sensation he will create in the IT sector and how his start-up will make a difference. The reports further added that the primary operational hub of the new start-up will be located in Bengaluru, India whereas the headquarters of the start-up will be in Singapore.
The reports further added that Bansal is planning to expand its reach to the US. The 40-year-old billionaire co-established his e-commerce company known by the name “Flipkart” in 2007. The other co-founder of Flipkart is Sachin Bansal, a childhood friend of IIT alumni. The journey of Flipkart is quite inspirational and it took a long time to establish itself well in the e-commerce landscape but with a clear vision, the company started growing well. After the e-commerce website started expanding, Bansal started working in the position of CEO in 2016 whereas Sachin remained to be Executive Chairman.
Under the leadership of its CEO, the company initially started selling books online began to offer different products as well in different categories and soon it started ruling online. Later on, Bansal sold its stake to Walmart Inc. and made a huge profit with it. Till 2018, Bansal worked with Flipkart after that he started putting his money in the form of investments in other startups such as Curefoods and PhonePe. Even at the start of this month (November), he was reported to invest around $25-30 million into Curefoods. Speaking about the upcoming AI start-up of Bansal, the focus of the company will be on “training talent and offering services”. Well, we need to wait for the official announcement from the side of Bansal. Till then stay tuned with us and we will shortly back with more information.