Flipkart co-founder Binny Bansal launches e-commerce startup 'OppDoor'

Jan 02 2024 05:48 PM IST
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Flipkart co-founder Binny Bansal has come up with a new venture – 'OppDoor' It will help e-commerce companies expand operations globally by providing them with end-to-end solutions. According to the filings, the company is registered in Singapore and was founded in May 2021. It was previously known as Three State Ventures Pte Ltd.

Flipkart co-founder Binny Bansal has come up with a new venture – ‘OppDoor’, which will help e-commerce companies expand operations globally by providing them with end-to-end solutions, a media report said on Tuesday.According to the filings, the company is registered in Singapore and was founded in May 2021.OppDoor was previously known as Three State Ventures Pte Ltd, reports Moneycontrol.TRENDING NOWQ3FY24 business update: JTL Industries shares hit 52-week after highest-ever quarterly sales volumeBank of India FD: BOI launches ‘Super Special Fixed Deposit Scheme’ with 7.50% interest ratePassengers evacuated from Japan Airlines plane on fire at Tokyo airportRight time to invest in metal stocks? Jefferies cautiously optimistic for 2024Truck drivers’ strike hits movement of vehicles in MP; passengers stranded, fuel pumps crowdedVolatility index India VIX bounces off 80% from all-time low; here is what it means for Dalal StreetCovid sub-variant JN.1: 263 cases detected in countryCiti stays bearish on TCS, Wipro, 2 other top-tier IT firms citing valuation riskSBI starts electoral bond sale today: What are electoral bonds? Who can buy them and how political parties use these bonds?Lemon Tree Hotels shares hit a 52-week high as Motilal Oswal sees over 14% streamRBI issues guidelines to trace customers with inoperative accounts, unclaimed depositsGet iPhone 15 at starting price of Rs 66,990 during Apple Days Sale – Check dates and other detailsAkanksha Power and Infrastructure IPO: How to check allotment statuslupin share price nse bse nomura target upgradeEasy Trip Planners gets board nod for raising funds up to Rs 1,000 croreOppDoor will first target e-commerce businesses in the US, Canada, Mexico, the United Kingdom, Germany, Singapore, Japan, and Australia.India does not find a mention on the website yet, the report noted.According to the company’s website, OppDoor provides “a comprehensive suite of services.”It adds 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”.The website also mentioned, “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,” it added.Three State Ventures is Bansal’s Singapore-based venture capital firm. The firm has backed various firms in India, including Curefoods, Scapia, and others, the report mentioned.Last year, Bansal sold his remaining stake in Flipkart and received about $1-$1.5 billion from his shareholding in Flipkart.Binny, along with Sachin Bansal, exited Flipkart after selling it to Walmart in 2018 for around $16 billion. Binny has backed around 60 startups, like Acko, Ather Energy, Curefoods, Cultfit, BrightChamps, Unacademy, Yulu and others.

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