Flipkart Co-founder Binny Bansal resigns from board to focus on new venture, OppDoor

Binny Bansal, the co-founder of Flipkart, has reportedly stepped down from the company’s board, paving the way for his new venture in the ecommerce sector. The news of Bansal’s resignation comes in the wake of his recent launch of OppDoor, a startup aiming to provide comprehensive solutions for ecommerce companies. According to reports, Bansal informed the Flipkart board about his decision earlier this week.

OppDoor, Binny Bansal’s new venture, is described as a “managed services platform for global expansion” on its website. The startup plans to assist ecommerce brands with services covering global markets, customer behavior, taxation and compliance, partnerships, and third-party vendors. The platform specifically focuses on offering fully managed Amazon services to expand private label brands globally, positioning Amazon as an “endless opportunity.”

The startup, registered in Singapore in May 2021 and formerly known as ‘Three State Ventures Pte Ltd.,’ operates as a venture capital firm. It aims to capitalize on the growing trend of global expansion in ecommerce, emphasizing the potential for increased sales and higher exit multiples for brands with a multi-region presence.

Responding to the announcement, Binny Bansal told Moneycontrol that he has decided to step aside from Flipkart as he believes the company is in capable hands. This move reflects his commitment to focusing on the growth and development of OppDoor in the dynamic ecommerce landscape.