Flipkart cofounder Binny Bansal has reportedly launched his new business-to-business (B2B) platform OppDoor to help ecommerce companies looking to expand into new regions.
Citing a source, Moneycontrol reported that the name of Bansal’s new venture is OppDoor.
As per the startup’s website, OppDoor offers end-to-end solutions to brands including market entry analysis, demand mapping, inventory management, cross-border logistics and tax.
OppDoor claims to partner with leading private-label brands to unlock their business potential.
From advertising strategies to enhanced catalogues, the startup aims to equip brands with all the ongoing competitive intelligence.
Reports about Bansal planning a new startup in the ecommerce space surfaced in August 2023. Back then, it was reported that instead of facing the consumers directly, the startup would offer allied services such as design, product and manpower to Indian and global ecommerce firms.
Interestingly, the website of OppDoor does not mention India among the regions where the startup operates. The Singapore-based startup claims to be operational in the US, the UK, Canada, Mexico, Germany, Singapore, Japan, and Australia.
Months back, Bansal was also reported to be planning a new artificial intelligence (AI)-based startup. The new startup was said to be mulling a roll out of its products and services and begin marketing in the second half of 2024.
The latest development comes years after Binny Bansal and Sachin Bansal sold their ecommerce startup, Flipkart, to retail giant Walmart. In 2022, Binny Bansal sold some of his stake in Flipkart for $264 Mn (around INR 2,060 Cr) to Chinese tech giant Tencent, and brought down his stake count to 1.84%. Reportedly, these remaining shares were also purchased by Walmart in 2023.
The company’s regulatory filings with the SEC revealed that Walmart spent $3.5 Bn during the six months ended July 31 to acquire Flipkart’s shares from its non-controlling stakeholders as well, including investors Tiger Global and Accel.
In addition to being an entrepreneur, Bansal is also an active investor in several startups including VideoVerse, Curefoods, SuperK, among others. Also, he launched B2B startup XTo10X Technologies to help startups with product-market fit and initial business momentum into at-scale, world-class companies.
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