MC Tech3 | Binny Bansal is back in e-commerce; ESOP cashouts plunge 62% amid funding winter; and more

One quick thing: Tata Sons taps private equity funds for a stake sale in Tata Digital

In today’s newsletter:?

• Binny Bansal is back in e-commerce, with a twist
• ESOP cashouts plunge 62% amid funding winter
• Angel funding halves in 2023

Binny Bansal is back in e-commerce, with a twist

Five years after selling Flipkart to Walmart, e-commerce pioneer Binny Bansal is back in the game.

Driving the news: Binny Bansal’s latest venture, OppDoor, is now live, offering solutions to e-commerce companies seeking global expansion.

• Its services cover a brand's entire lifecycle, from inception to exit. Brands can choose between fully managed operations or opt for business advisory services alone.
• While Amazon is OppDoor's primary focus, it also offers solutions for Walmart and Etsy.

We were the first to report on Binny Bansal's renewed e-commerce ambitions in August. However, unlike Flipkart, OppDoor will not be customer-centric; instead, it will be more focused on catering to the needs of companies. (That’s the twist)?

Tell me more: OppDoor, formerly known as Three State Ventures Pte Ltd (Bansal's VC arm), is headquartered in Singapore.?

• Its key regions of operation include the US, Canada, Mexico, UK, Germany, Singapore, Japan, and Australia.
• India is not yet highlighted as a region of interest on the company's website.

Timing is crucial: While selling Flipkart to Walmart in 2018, Bansal signed a non-compete clause with the American retailer, prohibiting him from starting a competing business in the same industry.?

• The non-compete clause ended in 2023.

Dig deeper?

This is a short version of the MCTech3 newsletter. Sign up here?to get the full edition in your inbox every evening on weekdays.?