FlipSmart But Still Short

Earlier this year, Walmart paid a whopping $16 billion in cash for a 77% stake inFlipkart, valuing Indias pioneering e-commerce retailer at more than $20 billion.

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The blockbuster deal, the biggest acquisition of an e-commerce company ever, resulted in handsome gains for Flipkart’s key investors, but where are cofounders Binny Bansal and Sachin Bansal when it comes to India’s richest?

The not-so-sad fact is that they emerged from the windfall with not enough to make it back onto the 100 list that they’d cracked in 2015 when Flipkart had zoomed to a notional value of $15 billion. In the meantime, the cutoff has risen by one third, and their own stakes were diluted.