Binny Bansal, the co-founder of Flipkart, has ventured into the world of e-commerce once again with his latest startup, OppDoor. The new venture aims to provide comprehensive end-to-end solutions to e-commerce firms globally.
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Binny Bansal’s New Venture
After parting ways with Flipkart following its acquisition by Walmart in 2018, Binny Bansal has stepped back into the entrepreneurial arena. His new startup, OppDoor, focuses on offering a range of services to e-commerce companies, including design, product development, human resources, and backend support.
About OppDoor
Registered in Singapore and established in May 2021, OppDoor initially operated under the name ‘Three State Ventures Pte Ltd,’ functioning as a venture capital firm. The startup has garnered investments from various Indian startups, such as Curefood and Scapia.
Services Provided by OppDoor
OppDoor’s primary objective is to support e-commerce companies in achieving global excellence. The startup offers a comprehensive suite of services covering every aspect of a brand’s lifecycle, from its inception to its exit. This includes fully managed operations and business advisory services.
Global Presence of OppDoor
While OppDoor is based in Singapore, it extends its services primarily to eight countries: Australia, Canada, Germany, Japan, Mexico, Singapore, the UK, and the US. Interestingly, India is not mentioned on its website, suggesting a focus on international markets. The company collaborates with major platforms like Amazon, Walmart, and Etsy.
Strategic Timing and Non-compete Clause
The timing of OppDoor’s launch is significant, coming five years after Binny Bansal’s non-compete clause with Walmart ended in 2023. Unlike his previous venture, Flipkart, OppDoor does not target end consumers directly. Instead, it aims to work closely with businesses, assisting them in scaling their operations globally.
Amazon as a Key Partner
OppDoor emphasizes its partnership with Amazon, calling it an “endless opportunity” for e-commerce companies. The startup claims that about 63% of Amazon Sellers who embraced global expansion experienced a surge in sales. OppDoor encourages brands to have a multi-region presence, noting that they can achieve three times higher exit multiples compared to those selling in only one or two Amazon regions.
Collaboration Beyond Amazon
While the website highlights the importance of Amazon, OppDoor is not limited to a single platform. The startup expresses its intention to work with other major platforms, including Walmart and Etsy, for various operations such as marketplace management and seller support.
OppDoor’s Global Vision
The startup’s initial focus is on e-commerce companies in the United States, Canada, Mexico, the United Kingdom, Germany, Singapore, Japan, and Australia. The absence of India on its website indicates a deliberate strategy to concentrate on international markets.
Three State Ventures’ Backing
Three State Ventures Pte Ltd, formerly known as OppDoor, is Binny Bansal’s venture capital firm operating from Singapore. Apart from OppDoor, Three State Ventures has supported several startups across diverse sectors in India.
