Binny Bansal, the co-founder of Flipkart, has launched a new venture called ‘OppDoor’, aimed at assisting e-commerce companies in expanding their operations globally. The venture offers end-to-end solutions to facilitate the international growth of online businesses.
Establishment and Scope
Registered in Singapore and founded in May 2021, OppDoor, previously known as Three State Ventures Pte Ltd, is set to support e-commerce enterprises in various countries, including the US, Canada, Mexico, the United Kingdom, Germany, Singapore, Japan, and Australia. While India is not currently featured on the website, the company plans to target a wide range of global markets.
Comprehensive Services
OppDoor provides a comprehensive suite of services tailored to support businesses throughout their lifecycle, from inception to exit. This includes fully managed operations and business advisory services. The company specializes in offering fully-managed Amazon services designed to expand private label brands across multiple global regions.
Strategic Advantage
Highlighting the strategic importance of multi-region presence, OppDoor emphasizes that brands operating in multiple Amazon regions tend to achieve significantly higher exit multiples compared to those limited to one or two regions. This underscores the value proposition of leveraging OppDoor’s services for global expansion and market penetration.
Three State Ventures
Three State Ventures, Bansal’s Singapore-based venture capital firm, has been instrumental in supporting various Indian startups, including Curefoods, Scapia, and others. Bansal’s extensive experience and track record in the startup ecosystem position OppDoor as a valuable resource for e-commerce companies seeking international growth opportunities.
Legacy and Contributions
Binny Bansal’s entrepreneurial journey extends beyond Flipkart, with investments in approximately 60 startups, including Acko, Ather Energy, Curefoods, Cultfit, BrightChamps, Unacademy, and Yulu. His role in driving innovation and fostering entrepreneurship underscores the significance of OppDoor in facilitating the global expansion of e-commerce enterprises.
