Flipkart co-founder Binny Bansal opens new venture called ‘OppDoor’. Details - Hindustan Times

Flipkart co-founder Binny Bansal opens new venture called ‘OppDoor’ | All you need to know

By, New Delhi
Jan 02, 2024 05:59 PM IST

The company was previously called Three State Ventures Pte Ltd and functioned as a venture capital firm.

Flipkart co-founder Binny Bansal, who exited the company following its 2018 acquisition by Walmart, has launched a new startup, naming it ‘OppDoor,’ Moneycontrol has reported.

Flipkart co-founder Binny Bansal
Flipkart co-founder Binny Bansal

What is OppDoor?

OppDoor is registered in Singapore and was incorporated in May 2021, operating as a venture capital firm; the company was previously called ‘Three State Ventures Pte Ltd.’ It has also backed several startups (such as Curefood, Scapia) across India.

Unlock exclusive access to the story of India's general elections, only on the HT App. Download Now!

What will OppDoor do?

OppDoor's aim is to ‘help e-commerce firms expand operations globally by providing them end-to-end solutions.’

Here is what its website says: “We offer a comprehensive suite of services that span a brand's complete lifecycle, from birth to exit. Hence, we provide both fully managed operations and business advisory services.”

Where will OppDoor provide services?

Initially, it will provide services in Australia, Canada, Germany, Japan, Mexico, Singapore, the UK and US. India, however, does not find a mention on the website.

OppDoor will work with…

While the OppDoor portal stresses on the importance of Amazon for e-commerce companies, the startup says it will also work with Etsy, Walmart, and other platforms for marketplace operations, seller management, etc.

Binny Bansal's ‘non-compete’ clause

According to the report, Binny Bansal's exit from Flipkart included a five-year ‘non-compete’ clause, which ended last year, allowing him to ‘start up again’ in the e-commerce sector.

Discover the complete story of India's general elections on our exclusive Elections Product! Access all the content absolutely free on the HT App. Download now!
Stay informed on Business News, TCS Q4 Results Live along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
Share this article

    Follow the latest breaking news and developments from India and around the world with Hindustan Times' newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we've got you covered.

Story Saved
Live Score
Saved Articles
My Reads
Sign out
New Delhi 0C
Tuesday, April 16, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On