Mumbai: Binny Bansal, co-founder of Flipkart, along with Accel, one of the company's earliest investors, and US-based Tiger Global Management have all fully exited the e-commerce giant by selling their stakes to Walmart, according to media reports.

Accel, both India and US together held more than 20 per cent in Flipkart initially when they backed the company in 2008, but gradually reduced their stake to about six per cent before Walmart acquired a majority share in Flipkart in 2018, according to Tracxn, a private markets data provider.

However, Accel retained a small 1.1 per cent stake more recently after the acquisition, only to fully exit the company in 2023, generating cumulative returns of around $1.5-2 billion, generating a whopping 25-30X return on its total investment of about $60-80 million over the years.

In 2018, everyone took notice as Walmart decided to acquire a majority stake in Flipkart for a staggering $16 billion, underscoring the immense potential of India's startup ecosystem. Despite the acquisition, Bansal chose to retain a small percentage of his stake in Flipkart, demonstrating his belief in the company's vision and future prospects.