In a significant development, Binny Bansal, co-founder of Flipkart, has ventured into the e-commerce space once again with his latest startup, OppDoor. The startup aims to facilitate the global expansion of e-commerce firms by offering comprehensive end-to-end solutions. The launch of OppDoor holds particular significance as it marks Binny Bansal’s re-entry into the e-commerce domain after the completion of a five-year non-compete clause following the sale of Flipkart to Walmart in 2018.
End of Non-Compete Clause
The timing of OppDoor’s launch is noteworthy, aligning with the conclusion of the five-year non-compete clause that accompanied the sale of Flipkart to Walmart. This clause restricted Binny Bansal from participating in e-commerce ventures until 2023, and now, OppDoor emerges as the result of this awaited freedom.
Global Focus for OppDoor
OppDoor is set to provide its services primarily to e-commerce companies in various countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Singapore, Japan, and Australia. Notably, India is yet to be mentioned on the company’s website, signaling a broader international focus in the initial phase.
Comprehensive Solutions for E-Commerce
The core objective of OppDoor is to offer end-to-end solutions to e-commerce companies, aiding them in navigating the complexities of global expansion. The startup’s services encompass crucial aspects such as marketplace operations, seller management, and more. While the website emphasizes the significance of Amazon for e-commerce entities, OppDoor clarifies its intention to collaborate with other major platforms like Walmart and Etsy.
Corporate Structure and Background
Registered in Singapore and incorporated in May 2021, OppDoor was previously known as Three State Ventures Pte Ltd. Three State Ventures operates as Binny Bansal’s venture capital firm, supporting various startups in India across diverse sectors, including Curefoods and Scapia.