Binny Bansal has reportedly resigned from the board of the Walmart-led ecommerce giant Flipkart, citing a conflict with his new B2B startup OppDoor.
This signifies Bansal’s complete disassociation from Flipkart. Bansal, who co-founded Flipkart in 2007 with Sachin Bansal, informed the board about his resignation earlier last week.
OppDoor, Bansal’s latest venture, is headquartered in Singapore and specializes in the B2B sector of the ecommerce industry, assisting ecommerce companies in expanding their geographical reach. OppDoor asserts its collaboration with top private-label brands to unleash their business capabilities. From advertising tactics to optimized catalogs, the startup endeavors to provide brands with comprehensive competitive intelligence. Presently, it asserts its operational presence in the United States, the United Kingdom, Canada, Mexico, Germany, Singapore, Japan, and Australia.
As a part of this resignation, Bansal has also sold his remaining stakes in the company to the new owner Walmart.
In 2018, Walmart acquired majority stakes in the company for approximately $18 billion. However, following the separation of PhonePe from Flipkart and secondary share sales, Walmart’s stake decreased. Subsequently, in 2023, the retail giant acquired Tiger Global’s shares in the company for $1.4 billion, facilitating Tiger Global’s exit.
Bansal recently launched a new venture, which offers comprehensive solutions to brands. According to its official website, the venture provides services such as market entry analysis, demand mapping, inventory management, cross-border logistics, and tax solutions.