Nervousness grips startup founders post Binny Bansal's exit from Flipkart – Times of India

Nervousness grips startup founders post Binny Bansal's exit from Flipkart – Times of India



Bansal’s exit from


On Tuesday for alleged personal misconduct is expected to have broader ramifications for India’s startup culture. Various startup founders TOI spoke with following the Bansal episode said they had conversations with their cofounders and mentors about the need for tighter governance and making fuller and timely disclosures.

Binny Bansal and woman had consensual affair, probe concluded

The accusation of sexual assault came in late July, according to a person with knowledge of the matter, who requested anonymity because the details are not public The person said the accuser was a former Flipkart employee, while a second person who knew the situation

Some people are more sensitive to the equation that founders and senior executives at startups share with women colleagues. While the ‘#MeToo’ movement also had affected the startup ecosystem, Bansal’s exit had brought the issue too close home for fellow entrepreneurs. Among the male founders, there’s an sense of insecurity. But female founders TOI spoke with said that the conversation will now lead to a healthy change over the long term. Most of the founders who did not

Learning the ropes

“The recent developments can change the fundamentals of how startups function internally, especially in companies that have founders as young as 25,” a founder said. He said that while the greater the sensitivity in the workplace behavior is good, the same should not be taken out of context. Other founders too said they are being cautious about workplace behaviors with women but are worried about a “casual joke” coming back to haunt them later.

Binny Bansal’s exit: A resignation that raises more questions than it answers

Non-disclosure may be It’s an issue that many global companies take very seriously. Sources close to Walmart said Binny did not disclose about any allegations of personal misbehavior against him in Walmart at the time of the latter’s acquisition of Flipkart earlier this year.

In Binny’s case, the internal investigation did not find evidence to corroborate the complainant’s assertions, but the company said it revealed “judging in other lapses, in particular the transparency of lack, related to how Binny situation to respond”. It is believed that Binny did not disclose anything


was doing its due diligence of flipkart prior to acquiring it.

Binny Bansal’s exit: Flipkart staff shocked, but see business as usual

“Everybody is wondering since there was no buzz of anything like this in the organization,” a current employee said, adding that the company of the developments make it to the corridors of the hints Binny’s departure A former executive reported that Binny was due to transition out of the company anyway.

Much like major global startup hubs, India’s startup ecosystem too is dominated Shreya Mishra, co-founder of Flyrobe, said there may be an insecurity among some men over the startup culture, but that should not be the core concern right now. “Instead, we should see how many women have gone through these issues And it’s about time we take corrective measures, at the cost of some feeling uneasy about that casual joke, if need be, “she said.

Another woman

founder of a startup said men need not be scared over their day-to-day interactions with female colleagues.

Sanjay Swamy, managing partner at seed-stage venture fund, Prime Venture Partners, said the fund continuously discussions with its companies, and they ensure they create solutions to systems.


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