In a surprising turn of events, Binny Bansal, the co-founder of Flipkart, has officially stepped down from the board of the e-commerce giant. This move marks the end of an era that began in 2007, when Binny Bansal and Sachin Bansal (no relation) co-founded Flipkart.

The departure of Binny Bansal comes on the heels of the exit of Sachin Bansal from the board in 2018. The resignations of both co-founders have occurred after Walmart’s acquisition of a controlling stake in Flipkart. This acquisition, a $16 billion deal in 2018, saw Walmart take a 77% controlling stake in the company.

Binny Bansal’s exit from the board was not without its share of drama. It was reported that he sold his remaining stake in Flipkart to Walmart. The sale, which was estimated to be around $1-1.5 billion, valued Flipkart at $35 billion.

But Binny Bansal is not one to rest on his laurels. His exit from Flipkart coincided with his re-entry into the e-commerce industry with his new startup, OppDoor. This strategic move appears to be an effort to avoid any potential conflicts of interest with his new venture.

Kalyan Krishnamurthy, CEO and one of Flipkart’s board members, expressed gratitude for Binny’s contributions. He said, “We are thankful for Binny’s partnership over the past several years, as the Flipkart Group has grown and entered into new businesses. His insights and deep expertise of the business have been invaluable to the Board and company.”

As Binny Bansal embarks on his new venture, the e-commerce industry will be watching with bated breath. Will OppDoor open new doors for Binny Bansal? Only time will tell.