Flipkart co founder launches new e commerce startup: All the details

Binny Bansal, the co founder of Flipkart, has launched a new startup called OppDoor. OppDoor aims to assist e commerce companies in expanding globally by providing comprehensive solutions. The company, previously known as Three State Ventures Pte Ltd, is registered in Singapore and was founded in May 2021.

OppDoor will offer design, product, and backend support to e commerce businesses planning to expand to countries such as the US, UK, Canada, and more. Flipkart co founder Binny Bansal has launched a new startup named ‘OppDoor’. The latest venture will help e commerce companies to expand operations globally by providing them with end to end solutions .

As per the filings, the company is officially registered in Singapore and was founded in May 2021. According to a report by Moneycontrol, OppDoor was previously known as Three State Ventures Pte Ltd. Bansal’s e commerce ambitions were first reported in August 2023. The new company will offer design, product, human resource and other backend support to e commerce companies that are planning to expand to other regions by leveraging the network of top platforms like Amazon and others.

OppDoor to operate outside India OppDoor is set to first target e commerce businesses operating outside India in countries like the US, UK, Canada, Mexico, Germany, Singapore, Japan and Australia. The report notes that the startup’s official website doesn’t include India yet. The company's website also mentions that OppDoor will provide "a comprehensive suite of services." What services OppDoor will offer As per the company’s website, OppDoor’s services will “span a brand's complete lifecycle, from birth to exit.” The startup will offer its services to “both fully managed operations and business advisory services”.

The website states: “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.” Other investments done by Bansal's venture capital firm Bansal's Singapore based venture capital firm, Three State Ventures has backed various Indian firms.

The report mentions that the firm’s investments include Curefoods, Scapia and others. In 2023, Bansal sold his remaining stake in Flipkart. He received about $1 $1.5 billion from selling his shareholding in Flipkart. In 2o18, Binny Binny as well as Sachin Bansal sold Flipkart to Walmart for around $16 billion and exited the e commerce company.

Apart from Flipkart, Bansal backed around 60 startups which includes Acko, Ather Energy, Curefoods, Cultfit, BrightChamps, Unacademy, Yulu and more. Explore Your Financial Landscape with Personalized Credit Insights. FOLLOW US ON SOCIAL MEDIA Visual Stories Previous Here’s how many users top telcos have in India Gadgets 5G smartphones with 10GB or more RAM under Rs 25,000 Gadgets 5G smartphones launching in 2024 Gadgets Top 5 AR/VR headset companies worldwide in Q3 23 Gadgets 5G smartphones with in display fingerprint sensor Gadgets 10 ‘most popular’ YouTube Shorts in 2023 Gadgets 5G phones with IR blaster under Rs 30,000 Gadgets ISRO’s upcoming missions in 2024 Gadgets Reliance JioTV Premium subscription plans launched: All the details Gadgets 10 5G smartphones under Rs 35,000 Gadgets Next 1 2 3 Elections Chhattisgarh CM News MP CM News Rajasthan Election Results MP Election Result 2023 Chhattisgarh Election Result Mizoram Election Result TOP TRENDS India Covid Cases Japan Plane Fire Driver Protest News India Breaking News Today IND vs AUS Women Truck Drivers Protest.