In a significant development, Binny Bansal, co-founder of Flipkart, has once again entered the e-commerce sector with its latest startup. Opposition. The startup aims to facilitate the global expansion of e-commerce firms by offering comprehensive end-to-end solutions. The launch of Opendoor holds special significance as it marks the re-entry of Binny Bansal into the e-commerce domain after the completion of the five-year non-compete clause following the sale of Flipkart to Walmart in 2018.
End of non-compete clause
The timing of OppDoor’s launch is noteworthy, coinciding with the conclusion of the five-year non-compete clause associated with Flipkart’s sale to Walmart. This section restricted Binny Bansal from participating in e-commerce ventures until 2023, and now, OppDoor has emerged as a result of this awaited freedom.
Global focus for OppDoor
OppDoor is primarily geared towards providing its services to e-commerce companies in various countries including the United States, Canada, Mexico, United Kingdom, Germany, Singapore, Japan, and Australia. Notably, India is not mentioned on the company’s website yet, indicating a broader international focus at this early stage.
Comprehensive solution for e-commerce
OppDoor’s main objective is to provide end-to-end solutions to e-commerce companies, helping them navigate the complexities of global expansion. The startup’s services include important aspects like marketplace operations, vendor management and much more. While the website emphasizes the importance of Amazon for e-commerce entities, OppDoor makes clear its intention to collaborate with other major platforms like Walmart and Etsy.
Corporate structure and background
Registered in Singapore and incorporated in May 2021, Opdoor was previously known as Three State Ventures Pte Ltd. Three State Ventures serves as Binny Bansal’s venture capital firm, backing various startups across sectors in India, including CureFoods and Scapia.