IIT passout Flipkart founder with Rs 11661 crore net worth launches new startup, to help companies to rival his…

IIT passout founder of one of India largest ecommerce platform, Flipkart, is now back in the industry with his new startup that aims to help other ecommerce firms to scale their operations to rival giants like Amazon, Walmart, Flipkart and others. As per a report by MoneyControl, Flipkart founder Binny Bansal who now has a net worth of more than Rs 11661 crore, has launched a new venture called OppDoor. With his new company, Bansal will provide design, product development, human resource management, and additional backend assistance to e-commerce businesses aiming to broaden their reach into new regions, capitalizing on the networks of leading platforms like Amazon and similar entities.

The report further suggests that timing of OppDoor launch is strategically significant as it came five years after Sachin Bansal and Binny Bansal divested their e-commerce venture, Flipkart, to Walmart in 2018. This transaction included a five-year non-compete clause that expired in 2023, clearing the way for Binny Bansal to re-enter the e-commerce sector.

Instead of establishing a consumer-oriented internet company akin to Flipkart, Binny Bansal's vision involved founding a startup focused on serving business clients and assisting them in expanding their operations, as previously mentioned.

As per OppDoor’s website, it will initially focus on e-commerce companies in the United States, Canada, Mexico, the United Kingdom, Germany, Singapore, Japan, and Australia.