Flipkart co-founder Binny Bansal launches e-commerce start-up OppDoor
Flipkart co-founder Binny Bansal is back in the game with his new start-up, OppDoor, which aims to help e-commerce businesses expand globally. Offering a comprehensive suite of services, OppDoor covers everything from a brand's inception to its exit. The company will provide fully managed operations and business advisory services for e-commerce firms looking to grow in international markets using top platforms like Amazon.
Strategic timing and initial focus
After selling Flipkart to Walmart in 2018, Binny Bansal and Sachin Bansal are free to re-enter the e-commerce space, thanks to the expiration of a five-year non-compete clause. OppDoor's initial focus will be on e-commerce companies in the United States, Canada, Mexico, the United Kingdom, Germany, Singapore, Japan, and Australia. Interestingly, India is not mentioned on the website yet.
Working with Amazon and other platforms
According to OppDoor's website, the company offers fully managed Amazon services to help private label brands expand across multiple regions worldwide. Amazon is described as "an endless opportunity," with 63% of sellers who went global experiencing a boost in sales. Brands with a presence in multiple regions achieved 3x higher exit multiples compared to those selling in only one or two Amazon regions. OppDoor will also work with Walmart, Etsy, and other platforms for marketplace operations and seller management.
