Binny Bansal Exits Flipkart to Focus on New Venture OppDoor

Binny Bansal, former co-founder, chairman and CEO of Flipkart, has exited the venture to support his new startup OppDoor. Bansal, who founded Flipkart in 2007, had stepped down as the chief executive officer of the company in 2018 following reports of personal misconduct allegations. However, Benny has now stepped down from the board of the Walmart-owned e-commerce company marking the end of a 16-year association with Flipkart.

“I am proud of the Flipkart Group's achievements over the past 16 years. Flipkart is in a robust position, with a strong leadership team and a clear path forward, and with this confidence, I have decided to step aside, knowing the company is in capable hands”, said a statement from Binny Bansal who has also sold off the remaining stakes in the firm. 

Kalyan Krishnamurthy, CEO and Flipkart Board Member: “We are thankful for Binny's partnership over the past several years, as the Flipkart Group has grown and entered into new businesses. His insights and deep expertise of the business have been invaluable to the Board and company. Flipkart is the outcome of a great idea and a lot of hard work, built by teams committed to transforming how India shops. We wish Binny the best as he embarks on his next venture and thank him for the deep impact he has enabled for the Indian retail ecosystem.”

Binny Bansal Getting Started Again in E-commerce through OppDoor

Binny Bansal will now reportedly focus on his own venture OppDoor, which is a managed services platform for global expansion and PPC management. The firm basically comprises of a team of experienced ecommerce experts and former entrepreneurs who have worked with and led top global ecommerce brands, says the start-up’s official LinkedIN page.

“Startups like OppDoor facilitate e-commerce expansion, enhancing global market access. Their significance lies in empowering brands & fueling international commerce trends for sustained growth,” said Omkar Rai, executive chairman, Startup Odisha, and former DG of STPI India on the new venture by Binny.