Binny Bansal Unveils 'OppDoor': A New Venture in Global E-Commerce
OppDoor
Binny Bansal, the co-founder of Flipkart, has launched a startup named OppDoor. Following his departure from Flipkart after its acquisition by Walmart in 2018, Bansal is now venturing into the global e-commerce landscape with a focus on providing end-to-end solutions for expansion.
Official launch of OppDoor
OppDoor, registered in Singapore and initially named Three State Ventures Pte Ltd, was officially incorporated in May 2021.
Venture Capital Firm
Positioned as a venture capital firm, OppDoor has already made significant investments in various Indian startups, including Curefood and Scapia.
Company’s Mission
The primary objective of OppDoor, according to reports, is to facilitate the global expansion of e-commerce firms by offering comprehensive end-to-end solutions.
Global Reach
Initially, OppDoor plans to extend its services to key international markets, including Australia, Canada, Germany, Japan, Mexico, Singapore, the UK, and the US. Notably, India is not mentioned on the website, suggesting a strategic focus on global markets.
Collaboration with E-Commerce Platforms
While emphasising the importance of Amazon in the e-commerce landscape, OppDoor states its intention to collaborate with other major platforms such as Etsy and Walmart.
More collabs…
The startup aims to provide services related to marketplace operations, seller management, and more, indicating a broad scope in the e-commerce ecosystem.
'Non-Compete' Clause
Binny Bansals exit from Flipkart included a contractual non-compete clause lasting for five years, which concluded last year. This clause restricted Bansal from participating in the e-commerce sector during that period.