OppDoor Is Flipkart's Binny Bansal's New E-Commerce Venture

Flipkart co-founder Binny Bansal on Tuesday announced a new venture named OppDoor. According to reports, OppDoor was earlier known as Three State Ventures Pvt Ltd which aims to provide end-to-end solutions to e-commerce websites and boost their reach globally. The reports added that the OppDoor was founded in May 2021 and is registered in Singapore. The company's website termed OppDoor as "a comprehensive suite of services" provider.

OppDoor helps in providing comprehensive support like design, product development, human resources, and backend assistance manpower. The company also helps e-commerce enterprises to expand their reach into different regions and remote areas. For the AI service provider, Bansal has built a team of 15 techies and the company will be operated from Bengaluru.

The company is likely to join hands with leading platforms like Amazon and others to provide services and achieve the desired targets.

The company website reads that OppDoor's services "span a brand's complete lifecycle, from birth to exit. Hence, we provide both fully managed operations and business advisory services. OppDoor delivers fully-managed Amazon services aimed at expanding your private label brands across multiple regions globally."

"Brands with multi-region presence walked away with 3x higher exit multiples compared to brands selling in only one or two Amazon regions," the website reads further.

The reports added that Flipkart's sister company will target the US, Canada, Mexico, the United Kingdom, Germany, Singapore, Japan, and Australia first to expand its business. However, the e-commerce service provider did not mention India plans on its website.

Who is Binny Bansal?

Binny Bansal and his friend Sachin Bansal established Flipkart in 2007, initially as an online bookstore. Binny served at the company as Chief Operating Officer (COO) at the start and later became the CEO of Flipkart. With its massive product range, the company turned out to be the biggest e-commerce website selling almost anything and everything. The company directly competed with Amazon, Ali Baba, and other giants of the industry.

In 2018, Binny Bansal and Sachin Bansal sold Flipkart to Walmart for a gobsmacking Dollar 16 billion.