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Video-editing SaaS platform <keyword id="13657708" type="General" weightage="100" keywordseo="videoverse" source="Orion">VideoVerse</keyword> on Wednesday said it has secured $46.8 million in its Series B funding that it will utilise to strengthen its team, technology and global footprint. Previously known as Toch.ai, VideoVerse is building the next-generation video editing ecosystem addressing a broad range of use cases in the post-production process. The funding round was led by A91 Partners, Alpha Wave Global and <keyword id="6364080" type="General" weightage="50" keywordseo="binny-bansal" source="Orion">Binny Bansal</keyword>, former co-founder of Flipkart. "As we chart out the next phase of our growth journey, these funds will help us in our mission to innovate on behalf of consumer needs and industry demands," said Vinayak Shrivastav, CEO and co-founder, VideoVerse. In October last year, the startup raised Series A funding from <keyword id="3143238" type="General" weightage="50" keywordseo="moneta-ventures" source="Orion">Moneta Ventures</keyword>, Baring Private Equity India, Binny Bansal and Ventureast, among others. Since then, its revenue has grown multifold while building a strong US tech and sales team, as well as setting up a data science and machine learning team in Israel. "Video creation and consumption will continue to see explosive growth, whether it is the latest binge-worthy web series, corporate branding video, sports content or short social video," says <keyword id="2626607" type="General" weightage="50" keywordseo="gautam-mago" source="Orion">Gautam Mago</keyword>, General <keyword id="6399933" type="General" weightage="50" keywordseo="partner" source="Orion">Partner</keyword> at A91 Partners. "What we liked about VideoVerse was that it provided a clear quantifiable value proposition to its users -- reducing time to edit by 95 per cent, reducing manpower costs by less than half and driving higher engagement upto 2-3x," added <keyword id="13657709" type="General" weightage="50" keywordseo="kanishk-tyagi" source="Orion">Kanishk Tyagi</keyword>, an investor from Alpha Wave Global. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ceo-bonus-for-the-top-10-tech-giants-soared-400-amid-pandemic/articleshow/90949619.cms">CEO bonus for the top 10 tech giants soared 400% amid pandemic</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/netflix-has-lost-200000-subscribers-in-the-first-quarter-of-2022/articleshow/90950450.cms">Netflix share price tanks as the company records its first drop in users since 2011</a>

Video-editing platform VideoVerse raises $46.8 million, expands globally

<ul><li>Insurtech startup <keyword id="4943836" type="PERSON" weightage="20" keywordseo="Acko">Acko</keyword> has raised $65 million in a series C round. </li><li>Founded by Varun Dua in 2016, the startup has marquee investors like Amazon, Accel Partners, SAIF Partners among others. </li><li>This funding round takes Acko’s <keyword id="51393" type="PERSON" weightage="20" keywordseo="valuation">valuation</keyword> to a reported $300 million. </li></ul>Insurance technology startup Acko has <a href="https://www.vccircle.com/binny-bansal-others-invest-65-mn-in-digital-insurance-startup-acko/">raised</a> $65 million from <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword>, former Flipkart co-founder, and Kabir Misra, former SoftBank Managing Partner. The series C funding round with a <a href="https://www.vccircle.com/binny-bansal-others-invest-65-mn-in-digital-insurance-startup-acko/">reported</a> valuation of $300 million also saw participation from Intact Insurance (Canada’s property and casualty insurer) and existing marquee investors like Amazon, Accel Partners, SAIF Partners and TechPro Ventures. Acko, was founded by Varun Dua in 2016, and has gone on to make its mark in the Indian insurtech industry. In the recent past, Acko has been signing partnerships one after the other venturing into different verticals within insurance. The insurtech startup tied up with <a href="https://www.thehindubusinessline.com/money-and-banking/acko-partners-goibibo-for-travel-insurance-foray/article26006200.ece">Goibibo</a> to offer travel insurance to the latter’s users. Acko also partnered with <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/acko-general-insurance-partners-with-driveu-to-provide-trip-cover-for-car-owners/articleshow/66118573.cms">DriveU</a> to offer trip cover to car owners who opt to hire drivers from the latter’s platform. Interestingly, the startup also formed a partnership with <a href="https://economictimes.indiatimes.com/small-biz/sme-sector/au-small-finance-bank-partners-with-insurtech-firm-acko-general-insurance/articleshow/68269212.cms">AU Small Finance Bank</a> in early March to bring about customised insurance deals for their users. India has seen a slow penetration of the insurance sector but things are changing now. According to <a href="https://economictimes.indiatimes.com/industry/banking/finance/insure/insurance-industry-to-touch-280-billion-by-fy20-assocham/articleshow/65740339.cms">reports,</a> the Indian insurance industry is set to grow to $280 million by 2019-20. India has also seen a surge in insurtech startups with the likes of Policybazaar also gaining unicorn status. See Also: <a href="https://www.businessinsider.in/indias-two-startup-icons-switch-to-the-other-side-as-venture-capitalists/articleshow/67420444.cms">India’s two startup icons switch to the other side — as venture capitalists</a> <a href="https://www.businessinsider.in/heres-why-binny-bansals-021-capital-placed-its-bets-on-the-two-year-old-legal-tech-startup-spotdraft/articleshow/68198106.cms">Why India’s Unicorn Founders Backed This Barely Two-Year-Old Legal Tech Startup</a> <a href="https://www.businessinsider.in/after-minting-1-billion-from-flipkart-sale-sachin-bansal-is-now-betting-big-on-ola/articleshow/67526383.cms">Watch Out Uber. Sachin Bansal Gets Ola Share After Selling Flipkart</a>

This Indian insurance startup may be worth $300 million in just over two years

<ul><li>Premji Foundation, <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> along with SIDBI have led an investment of ₹960 crore in venture debt fund <keyword id="4844054" type="PERSON" weightage="20" keywordseo="Alteria-Capital">Alteria Capital</keyword>. </li><li>This makes Alteria Capital the largest venture debt fund in India. </li><li>Alteria invested in <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> like Dunzo, Vogo, Stanza Living, toppr among others.</li></ul>Former Wipro Chairman <keyword id="6419840" type="UNKNOWN" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword>’s Premji Foundation, Flipkart co-founder Binny Bansal along with SIDBI,invested ₹960 crore in the venture debt fund, <a href="https://timesofindia.indiatimes.com/business/india-business/premjis-ngo-bansal-put-rs-960cr-in-venture-debt-co/articleshow/70424468.cms">Alteria Capital</a>. This investment has made Alteria Capital the biggest venture debt fund in the country. According to reports, it is also SIDBI’s single largest investment, as the government nodal agency pumped in as much as ₹160 crore. Alteria Capital was founded by Ajay Hattangdi and Vinod Murali who had earlier led Innoven Capital. The firm has so far invested in hyperlocal delivery startup Dunzo, electric bike startup Vogo, student accommodation startup Stanza Living among others. The firm also placed its bets on cricketer Virat Kohli’s apparel brand Wrogn. Meanwhile, ace entrepreneur and investor Binny Bansal has been on an investment spree. In July, he invested in fashion designer Masaba Gupta’s brand. In June, Bansal sold some of his shares in Flipkart for $76.4 million, according to filings sourced by paper.vc. That leaves him with a residual share of 3.52% in the company he co-founded. He made personal investments too, like in insurtech startup Acko and legal startup Spotdraft amongst others. Interestingly, earlier Bansal for his own fund had raised money from his co-investor in the round for Alteria Capital – Premji Foundation. Bansal formed 021 Capital with his financial adviser Sailesh Tulshan for which he had raised $32 million from Premji Foundation and a few former Flipkart colleagues.

Azim Premji, Binny Bansal join government’s startup fund to invest in Alteria Capital

<ul><li>SpotDraft recently raised $1.5 million in a pre-series A from Binny Bansal’s 021 Capital, Freshworks CEO Girish Mathrubootham, among others. </li><li>The legal tech startup offers contract creation, management and analysis. </li><li>Indian unicorn entrepreneurs are turning into investors with a purpose – to help startups scale. </li></ul>A small Indian legal tech startup has been able to do what many early-stage entrepreneurs only dream of. SpotDraft has recently raised $1.5 million in a pre-series A round from Binny Bansal’s 021 Capital and several marquee investors like Girish Mathrubootham (Freshworks), Peeyush Ranjan (VP Engineering, Google Inc – former CTO Flipkart) and Indus Khaitan (Chief of Growth, Chargebee) among others. SpotDraft, which started off as an online platform to help people create contracts and automate their invoices, has evolved to offer contract creation, contract management and contract analysis. For example, it claims it helps businesses create a solid legally-binding contract, which they can negotiate and explore online. Its Machine Learning and Artificial Intelligence-enabled services allow them to share with entrepreneurs the good, bad and ugly aspects about the contract. It can quickly help identify compliant and non-compliant clauses of a contract. Shashank Bijapur, CEO and co-founder, SpotDraft spoke to Business Insider to spill the secrets on how they convinced the marquee investors to place their bets on a startup which is just about two years old. According to Bijapur, what worked for them was the value proposition of the business. “At a high level, the problem statement and solution were very clear. Legal as a problem is ripe for disruption making way for complete automation of legal processes that a business has to undergo,” he said. Legal paperwork is one of the many hurdles that businesses and entrepreneurs face, especially in a market like India where these tend to be time-consuming. Compliance is also increasingly becoming an important exercise, as regulations become more complex. It also helped that Bijapur, a Harvard law grad and Wall Street lawyer and his co-founder Madhav Bhagat, a Carnegie Mellon graduate and Google, New York employee, had their background to vouch for them as well. With the funds raised from this round, it is looking to focus on growth in terms of team, sales and development. In the near future, it plans to expand geographies to Europe, US and Middle East, while also looking to grow revenue 10X over the next 12-14 months. The investment is also the latest example of Indian unicorn founders turning into evangelists for startups in the country, through mentoring and investments. Many aren’t just looking at being moneybags but also contribute to the success of other startups. “As founders, the access to capital may not have been as difficult as finding the right people for your business – people who can take us from 0 to 1. The value that these investors brought on board is immense and even before we were given the term sheet, we were introduced to half a dozen clients,” said Bijapur. Currently, the startup has over a dozen multi-national corporations as well as 1,000 SMEs as customers. Among its customers include Wipro, Goodtimes and The Circle, according to the company’s web site. See Also: <a href="https://www.businessinsider.in/indias-two-startup-icons-switch-to-the-other-side-as-venture-capitalists/articleshow/67420444.cms">India’s two startup icons switch to the other side — as venture capitalists</a> <a href="https://www.businessinsider.in/angel-tax-startup-definition-changed-exemption-up-to-25-crore/articleshow/68063050.cms">Indian government finally comes to a decision on Angel Tax, changes definition of startups</a> <a href="https://www.businessinsider.in/for-indian-startups-2018-has-been-a-year-of-bouncing-back-as-venture-capital-funding-doubles/articleshow/67286540.cms">For Indian startups, 2018 has been a year of bouncing back as venture capital funding doubles</a>

Why India’s Unicorn founders backed this barely two-year-old legal tech startup

<ul><li>Former <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> Group CEO <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> has closed the first round of $32 million for his VC fund called 021 Capital. </li><li>Binny Bansal has raised the round from Premji foundation and others. </li><li>Co-founder <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> is also said to be raising his own $1 billion fund.</li></ul>It appears that India’s iconic startup <keyword id="53533" type="COMPANY" weightage="20" keywordseo="entrepreneurs">entrepreneurs</keyword> -- Flipkart co-founders Sachin and Binny Bansal -- are back in business, albeit separately. Sachin Bansal was said to have begun the process for his own<a href="https://www.livemint.com/Companies/JSwzsV76Mlyam1lKyg5aoL/Sachin-Bansal-plans-up-to-1-billion-VC-fund-in-life-after-F.html"> fund for $1 billion</a> to invest in startups. Reports suggested that Sachin was going to pour in 40% of his earnings from the Flipkart exit into the fund while looking at raising <keyword id="6355120" type="UNKNOWN" weightage="20" keywordseo="investment">investment</keyword> to close the fund. Now, Binny Bansal has closed the first round of <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/premji-foundation-and-flipsters-back-binny-bansals-vc/articleshow/67413413.cms">$32 million</a> for his VC fund called ‘021 Capital’ which he had formed with Sailesh Tulshan, his financial adviser. The former Flipkart Group CEO has raised the round from Premji Foundation also with a backing from former Flipkart employees. The Bansal Hood The global retail giant Walmart took up a 77% stake in the Indian e-commerce company for a whopping $16 billion. The deal went on to become one of the world’s largest e-commerce deals with the founders Sachin Bansal and Binny Bansal opening the door for VC-backed startup exits in India. However, the deal also saw the exit of the Flipkart visionary Sachin Bansal with a cash-out of over $1 billion. Recently, Binny Bansal too stepped down from his position as CEO of the company following an internal review after an allegation of<a href="https://economictimes.indiatimes.com/industry/services/retail/binny-bansal-resigns-from-flipkart-on-allegations-of-personal-misconduct-walmart/videoshow/66606895.cms"> personal misconduct</a>. Although the allegation was taken down, it was Binny Bansal’s lack of transparency in the matter that cost him his job. Both the co-founders have a high regard in the Indian entrepreneurial ecosystem for having scaled up the startup from a two-bedroom apartment in Bengaluru to an e-commerce giant that one could say redefined the way Indians shop by introducing options like cash on delivery and return of goods. And they are not new to investments, both of them in their personal capacity have long been investing in Indian startups. See also: <a href="https://www.businessinsider.in/flipkart-group-ceo-binny-bansal-steps-down-following-allegations-of-serious-personal-misconduct/articleshow/66608441.cms">Flipkart Group CEO Binny Bansal steps down following allegations of ‘serious personal misconduct’</a> <a href="https://www.businessinsider.in/indian-unicorn-flipkarts-board-approves-15-billion-deal-with-walmart/articleshow/64027810.cms">Indian unicorn Flipkart's board approves $15 billion deal with Walmart</a> <a href="https://www.businessinsider.in/how-flipkart-went-from-being-an-online-bookseller-to-indias-biggest-e-commerce-story/articleshow/64100266.cms">How Flipkart went from being an online bookseller to India’s biggest e-commerce story</a>

India’s two startup icons switch to the other side — as venture capitalists

<ul><li><keyword id="7321744" type="UNKNOWN" weightage="20" keywordseo="Flipkart-co-founder-Binny-Bansal">Flipkart co-founder Binny Bansal</keyword> cashed out a part of his shares by selling them to investment firm Tiger Global. </li><li>With this, Tiger Global increases its stake in <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>.</li><li>Meanwhile, Bansal has been actively investing in Indian startups.</li></ul>Flipkart’s co-founder <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> sold another tranche of his shares in Flipkart to Tiger Global for over $14 million, according to filings sourced by paper.vc. However, the report also says that given Flipkart’s subsidiary company Phonepe’s growth, the company’s valuation could have risen. It means Bansal’s buyout could be worth $25 million. His stake in the company will be as a little as 3%, after the deal. Flipkart was also in the news recently as its board gave approval for its employees to cash out stock options for over $100 million. Employees could liquidate 10% of their stock options in the company. In June 2019, rumours were rife that <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> is looking to exit from Flipkart as the latter heads for an IPO in the US. It was then that Bansal had sold some of his shares. Bansal, who had exited from all operational roles in the company over allegations of personal misconduct, sold a part of his shares for $76.4 million, according to filings sourced by paper.vc. During the sale of Flipkart to Walmart in 2018, Bansal made as much as $159 million by selling over 1.1 million shares. Cashing out for investments Since his Flipkart exit, Bansal turned into a full-time investor. In January this year, Binny Bansal had closed the first round of $32 million for his VC fund called ‘021 Capital’ which he formed with Sailesh Tulshan, his financial adviser. The former Flipkart Group CEO also raised a round from Premji Foundation and is also backed by former Flipkart employees. Since then, he has made personal bets like in Masaba Gupta’s fashion label, insurtech startup Acko and legal startup Spotdraft amongst others.

Binny Bansal sells his shares in Flipkart for the third time since Walmart’s entry

<ul><li><keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>’s <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> has led a $1 million funding in <keyword id="121020" type="PERSON" weightage="20" keywordseo="Masaba-Gupta">Masaba Gupta</keyword>’s designer brand. </li><li>Masaba has been in business for 10 years but has raised her first round of investment now. </li><li>In June 2019, Bansal had sold a part of his shares in Flipkart for $76.4 million.</li></ul>Flipkart founder Binny Bansal invested in popular designer Masaba Gupta’s fashion label. Masaba – as the apparel brand is called – has raised $1 million in its first round of funding led by Bansal. “After being in the fashion business for 10 years, it was the right time to bring institutional investors on board,” said Masaba Gupta <a href="https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/masabas-label-raises-1m-in-round-led-by-binny-bansal/articleshow/70136565.cms">in a statement. </a> She started her own fashion label in 2009, but is now eyeing expansion. She wants to grow the number of her stores from 11 to <a href="https://www.livemint.com/mint-lounge/features/masaba-celebrates-10-years-in-fashion-1555061308393.html">50 in India and abroad. </a> She recently unveiled an official Game of Thrones collection. “Masaba has been able to create a great brand backed by her unique designs. She is one of the youngest designers to do so and I believe she is just getting started on building a great business,” said Bansal. Ever since he exited the company he founded, Bansal has been busy investing into startups and turned into a full-time investor. In June, Bansal had sold a part of his shares in Flipkart for $76.4 million, according to filings sourced by paper.vc. Now, Bansal has a residual share of 3.52% in the company. In January 2019, Bansal closed the first round of $32 million for his VC fund called ‘021 Capital’ which he had formed with Sailesh Tulshan, his financial adviser. The former Flipkart Group CEO had raised a round from Premji Foundation also from a few former colleagues from Flipkart. He had made personal investments too, like in insurtech startup Acko and legal startup Spotdraft amongst others. See Also: <a href="https://www.businessinsider.in/flipkart-ipo-in-us-binny-bansal-sells-stake-to-walmart/articleshow/69924275.cms">Flipkart’s IPO in the US could see Walmart exit, Binny Bansal has already begun cashing himself out</a>

Binny Bansal leads an investment in fashion designer Masaba Gupta’s label

If you are an aspiring entrepreneur or a wantrepreneur equipped with a dream to create a billion-dollar business in India, one of the IITs is your best bet. 
 Unicorns are <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword> with more than a billion-dollar valuation and the IITs have produced 12 unicorns. 
 
Sage, a UK-based accounting, and payroll company stated this in a research and reinstated the belief that the premier institution is still numero uno for attaining success. 
 
In terms of countries that are home to the most number of unicorns, US tops the list with 144 unicorns, followed by China with 47. India grabbed the third spot with 10. 
 
<a href="http://www.businessinsider.in/what-should-indian-start-ups-hope-for-in-budget-2017/articleshow/56893271.cms">ALSO READ: What should Indian startups hope for in Budget 2017</a> 
 
In the study that lists universities that have produced the most unicorn founders, the Indian Institutes of Technology (IITs) bagged the fourth spot. 
 US-based <keyword id="101399" type="ORGANIZATION" weightage="20" keywordseo="Stanford-University">Stanford University</keyword> claimed the top rank with 51 unicorn founders, followed by <keyword id="97117" type="ORGANIZATION" weightage="20" keywordseo="Harvard-University">Harvard University</keyword> with 37. 
 The <keyword id="73593" type="ORGANIZATION" weightage="20" keywordseo="University-of-California">University of California</keyword> came third with 18 unicorn founders and <keyword id="6354859" type="COMPANY" weightage="20" keywordseo="IIT">IIT</keyword> followed with 12 founders. 
 India is home to 10 unicorn companies from e-commerce giants <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> and ShopClues to cab aggregator Ola, restaurant aggregator Zomato, classified ads platform Quickr, digital payments company <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword>, mobile ad tech player InMobi, messaging app Hike and analytics company Mu Sigma. 
 Within the various IITs, it is Delhi that produced the maximum unicorn founders. <keyword id="6354867" type="CITY" weightage="20" keywordseo="Sachin">Sachin</keyword> and <keyword id="6364080" type="PERSON" weightage="20" keywordseo="Binny-Bansal">Binny Bansal</keyword> of Flipkart, <keyword id="118292" type="PERSON" weightage="20" keywordseo="Sanjay-Sethi">Sanjay Sethi</keyword> of ShopClues, Zomato founders <keyword id="476451" type="UNKNOWN" weightage="20" keywordseo="Deepinder-Goyal">Deepinder Goyal</keyword> and Pankaj Chaddah, Snapdeal's <keyword id="396598" type="PERSON" weightage="20" keywordseo="Rohit-Bansal">Rohit Bansal</keyword> and Quikr's <keyword id="1063538" type="PERSON" weightage="20" keywordseo="Pranay-Chulet">Pranay Chulet</keyword> and <keyword id="2124885" type="UNKNOWN" weightage="20" keywordseo="Jiby-Thomas">Jiby Thomas</keyword> (now founder of <keyword id="4123624" type="UNKNOWN" weightage="20" keywordseo="webbutterjam-digital">Webbutterjam Digital</keyword>) are all products of <keyword id="57604" type="CITY" weightage="20" keywordseo="iit-delhi">IIT Delhi</keyword>. 
 
<a href="http://www.businessinsider.in/exclusive-what-moms-want-from-the-budget-2017/articleshow/56872243.cms">ALSO READ: Exclusive: What moms want from the Budget 2017</a> 
 Ola's founders <keyword id="1543567" type="COMPANY" weightage="20" keywordseo="Bhavish-Aggarwal">Bhavish Aggarwal</keyword> and <keyword id="2412264" type="UNKNOWN" weightage="20" keywordseo="Ankit-Bhati">Ankit Bhati</keyword> went to IIT Bombay. 
 Inmobi's founders Naveen Tiwari, Abhay Singhal and <keyword id="75744" type="PERSON" weightage="20" keywordseo="Amit-Gupta">Amit Gupta</keyword> studied at IIT Kanpur while their co-founder <keyword id="2682435" type="PERSON" weightage="20" keywordseo="Mohit-Saxena">Mohit Saxena</keyword> went to IIT Roorkee. 
 
<a href="http://www.businessinsider.in/take-a-tour-of-oyo-rooms-attractive-new-property-townhouse/articleshow/56781794.cms">ALSO READ: Take a tour of OYO's attractive new property: OYO Townhouse</a> 
 
According to the study, for over 60% of the founders all over the world, the current unicorn company was the only company they had ever built. However, indicating that experience literally pays, the research said those who founded more than one company have, on average, a 34.5% higher valuation than those who founded just one company ($4.29bn vs $5.88bn).

The IITs are the fourth largest producer of unicorn startups in
the world

This month has been a very exciting month for Paytm’s <keyword id="198636" type="PERSON" weightage="100" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>. As the only Indian except Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> to be featured in TIME Magazine’s top 100 most influential people list, it is truly a feat for the Aligarh-born Sharma whose life has been a rollercoaster of a ride. The list features pioneers, artists, titans, leaders and icons from around the world honoured for "the power of their inventions, the scale of their ambitions, the genius of their solutions to problems that no one before them could solve." 

 <div type="embedgroup"> <div type="Article" hostid="261" msid="58410595" title="Exclusive: Kris Gopalakrishnan current ace-investor and Infosys founder reflects back on his start-up days" rank="1.0" kind="RELATED" publishDate="Apr 28, 2017, 12:00 PM" mstype="2" mssubtype="0"></div></div>


 For 43-year-old Sharma, Infosys co-founder Nandan Nilekani wrote that when India's government unexpectedly scrapped 86 per cent of the country's currency notes in November, Sharma "seized the moment" and saw phenomenal growth with Paytm. The final list of the 100 most influential people is chosen by Time editors. 

 <div type="embedgroup"> <div type="Article" hostid="261" msid="58422071" title="Exclusive- Kris Gopalakrishnan, Infosys Founder and ex-CII President says that the Real Innovation Success in India will Come in the Next 30 Years" rank="1.0" kind="RELATED" publishDate="Apr 28, 2017, 9:52 PM" mstype="2" mssubtype="0"></div></div>


 Mr. Sharma spoke to Business Insider about his experience at the TIME 100 Gala. ”It was a surreal experience where I saw everyone who is in news, who is on my music playlist and who is in the movies,” Sharma said, still excited. As the only Indian around with PM Modi not attending, he felt honoured,”My biggest takeaway was that the editor of the TIME Magazine speech where he said you have two ways of influencing the world either with a finger or a fist symbolizing that your influence should be powerful and groundbreaking,” says Sharma. Last year, Reserve Bank of India Governor Raghuram Rajan, tennis star Sania Mirza, actress Priyanka Chopra, Google's India-born CEO Sundar Pichai and founders of Indian e-commerce major <keyword id="3246008" type="UNKNOWN" weightage="20" keywordseo="Flipkart-Binny-Bansal">Flipkart Binny Bansal</keyword> and Sachin Bansal were among Time's 100 most influential people. Vijay, who attended the event with his wife also said that it was truly humbling to see people recognizing Paytm and also seeing PM Modi’s mural at the event. 
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Exclusive: Vijay Shekhar Sharma, CEO, Paytm talks about representing India at the TIME 100 Gala

(Photo Source : Wikimedia.org) <ul><li><keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword>, co-founder of the Indian e-commerce retailer, <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, resigned on Tuesday following allegations of personal misconduct. </li><li>That being said, Bansal has strongly denied allegations against him. </li><li>The alleged misconduct involved a sexual harassment complaint dating back a few years, said media reports.</li></ul>In his <a href="https://timesofindia.indiatimes.com/business/india-business/stunned-by-allegations-challenging-time-for-my-family-and-me-binny-bansal/articleshow/66607778.cms">parting letter</a> to Flipkart’s employees, Binny Bansal, strongly refuted all allegations of ‘misconduct’ which forced him to step down as the Chief Executive of the Flipkart Group. Neither Binny Bansal nor <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword>, which <a href="https://www.businessinsider.in/after-the-walmart-acquisition-heres-whats-in-store-from-flipkart/articleshow/64111313.cms">acquired</a> the Indian e-commerce retailer recently for $16 billion, stated the nature of the claim while announcing his abrupt resignation. But, according to a Reuters report, the alleged misconduct involved a <a href="https://www.livemint.com/Companies/R6p0OpEeDj0p9JWNl4JjsJ/Claim-against-Flipkarts-Binny-Bansal-was-of-sexual-assault.html">sexual harassment</a> complaint dating back a few years. Although, the investigation by the company into the matter did not corroborate the allegations, ‘It did reveal other lapses in judgement, particularly a lack of transparency, related to how Binny responded to the situation’ said a<a href="https://stories.flipkart.com/flipkart-walmart-binny-bansal/"> joint statement </a>by Walmart-Flipkart. According to a Bloomberg <a href="https://www.ndtv.com/business/consensual-affair-found-probe-against-flipkarts-binny-bansal-report-1947020">report</a> which cited people familiar with the matter, the investigation found Bansal had a ‘consensual affair’ with the complainant. “These have been challenging times for my family and me. I am concerned that this may become a distraction for the company and the team. In light of these circumstances, I feel it is best to step away as chairman and group CEO,” Bansal reportedly <a href="https://timesofindia.indiatimes.com/business/india-business/stunned-by-allegations-challenging-time-for-my-family-and-me-binny-bansal/articleshow/66607778.cms">said</a> in his letter to Flipkart employees. That being said, Bansal also conveyed that he will continue to hold his shares in Flipkart. Tiger Global executive, Kalyan Krishnamurthy, will continue as the CEO of Flipkart, which operates as a separate entity within the Flipkart Group. Krishnamurthy will also oversee the group’s online fashion portals Myntra and Jabong. Flipkart, founded by Binny Bansal and <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> in 2007, has been one of the most sought after and watched startup success stories in India. Sachin Bansal also <a href="https://www.businessinsider.in/how-flipkart-went-from-being-an-online-bookseller-to-indias-biggest-e-commerce-story/articleshow/64100266.cms">parted ways</a> with Flipkart earlier this year when Walmart bought 77% stake in the company. SEE ALSO : <a href="https://www.businessinsider.in/flipkart-group-ceo-binny-bansal-steps-down-following-allegations-of-serious-personal-misconduct/articleshow/66608441.cms">Flipkart Group CEO Binny Bansal steps down following allegations of ‘serious personal misconduct’</a> <a href="https://www.businessinsider.in/amazon-flipkart-asked-to-pull-fake-beauty-products-from-websites-in-india-report/articleshow/66589577.cms">Amazon, Flipkart asked to pull fake beauty products from websites in India: Report</a> <a href="https://www.businessinsider.in/slideshows/miscellaneous/walmart-has-apparently-been-worried-about-amazon-for-more-than-15-years-here-are-all-of-the-changes-it-has-made-to-keep-up-in-the-online-shopping-battle/In-May-Walmart-invested-16-billion-to-become-the-majority-owner-of-Flipkart-Indias-top-e-commerce-retailer-further-expanding-its-reach-internationally-/slideshow/66597493.cms">Walmart has apparently been worried about Amazon for more than 15 years - here are all of the changes it has made to keep up in the online-shopping battle</a>

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Exclusive: Vijay Shekhar Sharma, CEO, Paytm talks about representing India at the TIME 100 Gala

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