OppDoor: Flipkart Co-Founder Binny Bansal's New E-Commerce Startup
Flipkart co-founder Binny Bansal has launched a new venture, named OppDoor, to deliver end-to-end solutions to e-commerce companies. OppDoor is Binny Bansal”s second entrepreneurial venture after leaving Flipkart. The new software services platform aims to help emerging e-commerce brands expand globally.
According to OppDoor’s website, the company offers “a comprehensive suite of services.” The startup also mentioned on its website that its services span a brand”s “complete lifecycle, from birth to exit” and will provide both fully managed operations and business advisory services. In November, Bloomberg reported that Binny Bansal may launch an AI-as-a-service startup. The report also said that Binny Bansal, an engineering graduate from the Indian Institute of Technology, Delhi, is aiming to provide AI talent, products, and services to corporates, similar to outsourcing providers like TCS.
The new startup will initially focus on e-commerce firms in countries including the United States, the United Kingdom, Germany, Singapore, Japan, and Australia. OppDoor also says on its website that it delivers fully managed Amazon services aimed at expanding private label brands across multiple regions globally. Moneycontrol reported that OppDoor is registered in Singapore and was incorporated in May 2021.
Flipkart, the leading Indian eCommerce website, was founded in 2007 by Sachin Bansal and Binny Bansal. The platform has created a revolution in the e-retail industry in the country. Binny Bansal served in various positions on Flipkart. This includes the roles of Chief Operating Officer, Chief Executive Officer, Group CEO, and Chairman. In 2018, Walmart purchased a 77% share of the Flipkart group. This deal, with an estimated worth of $16 billion, is considered the world’s biggest deal for an internet firm. In November 2018, Binny Bansal announced his resignation from Flipkart, and in July 2023, he sold his remaining stake in Flipkart to Walmart. Moneycontrol also reported that Binny Bansal”s exit from Flipkart included a five-year ‘non-compete’ clause, which ended in 2023.
