Sachin Bansal and Binny Bansal, the two post boys founders of homegrown e-commerce giant Flipkart have quitely incorporated a new company last month for new businesses, which could include venture capital funding and insurance, reported The Hindu BusinessLine.
Named as Sabin Advisors, after the first few letters of both the co-founders Sachin and Binny, the company was incorporated on December 7 and lists out various businesses as its objective, including a foray into online ventures.
The exact form of business of the company is not known however it is expected that through Sabin Advisors the Bansals might route all their investments in startups and new online ventures that they both keep on doing.
Sachin Bansal has invested in seven ventures with a total funding of $26 million, while Binny Bansal has invested in 17, with a total funding of $32 million.
Notably, last year Flipkart got record $3 billion in two quick succession and from that point onwards the investors have taken a lead role in running the company and the founders are now looking at the other avenues for themselves via Sabin Advisors through which the aim to offer investment as well as advisory services outside the e-commerce platform.
Experts also believes that the formation of new company by Bansals is a natural progression as the VC firms who invested in Flipkart has taken nearly a complete control over the company and the co-founders will now play more of mentors role rather then managers like in earlier days of the company.
It is also expected that after Sabin Advisors incorporation the next step of the Bansals will most probably be making Flipkart go public.