Binny Bansal's New E-commerce Startup: Another Flipkart in Making?

Binny Bansal, the co-founder of Flipkart, has recently unveiled his new startup venture - OppDoor. With this new startup, he has again entered in this into the e-commerce space. OppDoor is positioned to support global expansion for e-commerce firms by offering comprehensive end-to-end solutions.

What is OppDoor?

Initial reports on Bansal's foray into e-commerce emerged in August in media reports, outlining OppDoor's role in providing design, product, human resource, and backend support to e-commerce companies seeking international expansion, utilizing established platforms like Amazon. The company's website now substantiates these reports, stating that OppDoor delivers a broad spectrum of services covering a brand's entire lifecycle, from inception to exit, encompassing both fully managed operations and business advisory services.

Another Flipkart in Making?

The strategic timing of OppDoor's launch is noteworthy, occurring five years after Binny Bansal and Sachin Bansal (unrelated) sold their e-commerce giant, Flipkart, to Walmart in 2018. The sale included a five-year non-compete clause, which expired in 2023, allowing Binny Bansal to venture back into e-commerce. In contrast to Flipkart, OppDoor is oriented towards B2B services, aiming to directly assist businesses in scaling their operations.

While the official confirmation of OppDoor as Binny Bansal's new startup awaits his comments or any media annoucement, the company's focus will initially be on supporting e-commerce enterprises in the United States, Canada, Mexico, the United Kingdom, Germany, Singapore, Japan, and Australia. Notably, India is not mentioned in OppDoor's initial target markets.

OppDoor's website underscores its commitment to fully managed Amazon services for expanding private label brands globally. Referring to Amazon as "an endless opportunity," OppDoor cites statistics revealing a 63 percent surge in sales for Amazon Sellers embracing global expansion, with brands having a presence in multiple regions achieving 3x higher exit multiples compared to those limited to one or two Amazon regions.

Despite the emphasis on Amazon, OppDoor affirms its intention to collaborate with other platforms such as Walmart, Etsy, and more, providing support for marketplace operations and seller management. The company is registered in Singapore, with its incorporation date listed as May 2021. Previously known as Three State Ventures Pte Ltd, OppDoor has ties to Binny Bansal's venture capital firm, Three State Ventures, operating from Singapore and having invested in startups like Curefoods and Scapia across various sectors in India.

Join Our Thriving Entrepreneurial Community

Follow TICE News on Social Media and create a strong community of Talent, Ideas, Capital, and Entrepreneurship. YouTube  | Linkedin | X (Twittrer) | Facebook | News Letters