Flipkart co-founder Binny Bansal has launched new e-commerce start-up OppDoor, business-to-business (B2B) platform.
The software services platform says it will help emerging ecommerce brands expand globally.
According to the website of OppDoor, it is a ‘managed services platform for global expansion’. It will help ecommerce brands by offering them end-to-end services on global markets, customer behaviour, taxation and compliance, partnerships and third-party vendors, the website says.
“OppDoor delivers fully managed Amazon services aimed at expanding private label brands across multiple regions globally,” the company website said. Bansal’s OppDoor calls Amazon “an endless opportunity.” About two-thirds, or 63 per cent, of Amazon Sellers who embraced global expansion witnessed a surge in sales, OppDoor said. “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.
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.
Start-up bets
The start-up is housed under a Singapore-registered entity which was earlier called Three State Ventures but has now been named OppDoor. Bansal’s venture fund is also called Three State Ventures. Curefoods, PhonePe and Acko are among his prominent start-up bets.
Bansal co-founded Flipkart with fellow IIT-Delhi graduate Sachin Bansal (not related) in 2007 in Bengaluru.
Sachin Bansal divested his entire 5 per cent holding in Flipkart to Walmart for about $1 billion in 2018 — the time of its acquisition by the retail giant.