Flipkart’s Sachin Bansal says Money follows great businesses, unless you have dumb investors who don’t understand the business at all

At Startup India, Standup India today, Flipkart founder Sachin Bansal cautioned startups against running after money and settling for investors who do not understand their business.

“Money follows great businesses unless you have dumb investors who do not understand the business at all. At Flipkart, we have always tried finding investors who understand our business,” he said.

Commenting on the increasing internet penetration, he said: “India's internet economy will be worth over half a trillion in some years. The country will go through a lot of tech innovation in the next 5 years with 4G penetration, artificial intelligence, life will be disrupted by technology in a big way in the next 5 to 10 years. There will be ups and downs, the supply and demand in the startup industry may go awry, but future of the internet is very bright.”

Responding to a question whether they will look to raise funds from Indian VCs, Bansal said: “There are enough people in the Indian market to do angel investing today, but it has not gone to the extent that companies like us can raise $50-100 million dollars from them. It may not be a bad thing for foreign money to come into the sector. ”

On listing the company in India, he said: “Markets need to be upgraded here. Yes, as and when that happens, we will love to raise funds from the public markets. Noone understands our business model like Indian consumers do. India is our top choice.”