New Delhi. The naming ceremony of a newborn is generally a big deal throughout India, but the growth of the Indian start-up space has disrupted the age old custom of getting a letter invoked from the pundit and naming the newborn after that. “I don’t care much what the first name is, but I will definitely keep my baby’s surname as Bansal”, said Mrs. Jain, a new mother who delivered a baby boy last night in Delhi.
Why all the hoopla around the “Bansal” surname one might ask? Because the leading figures of the Indian Start-up Success story are all Bansals. Sachin and Binny Bansal lead Flipkart whereas Rohit Bansal is co-founder of SnapDeal. Mukesh Bansal is the founder of Myntra, now acquired by Flipkart. Estimates say these four put together are responsible for more than 70% of the entire Indian e-commerce valuation.
“Nowadays parents don’t call me for the Namkaran ceremony, instead they consult with me for just the auspicious time to set the Surname”, says an enterprising pundit who pivoted from invoking letters for first names to offering Bansal renaming services.”Yas yas sirjee, the demand for the Bansal surname has skyrocketed ever since last year Flipkart was valued at 10 billion dollars plus. We are in the process of conducting auctions and selling the Bansal surname for newborns now”, commented an unnamed source in the Delhi MCD. Apparently the Delhi MCD also wants to hop on the startup growth bandwagon.
“I attended a name changing ceremony last week, before approaching investors and VCs to raise funds for my startup : BeABansal.com”, said an elated entrepreneur who changed his name from Mr. Gandhi to Mr. Bansal. It would seem investors are rushing to fund entrepreneurs with a Bansal in the surname whatever the idea be. “In the last 6 months, we have funded 11 new startups where the founders are Bansals and are in the process of funding 5 more”, admitted a leading VC partner.
Even Kunal Bahl (co-founder of SnapDeal) sheepishly admits, “At least my surname starts with a B, for the rest we have Rohit (co-founder and Bansal)”.