Wednesday, 25 July 2018

Flipkart to shut eBay India in August

Flipkart has announced that it is all set to shut down e-commerce portal eBay.in on August 14, 2018 and to come up with a new portal in replace of it.

Flipkart Kalyan Krishnamurthy has written
a letter as "Based on our learnings at eBay.in, we have built a brand new value platform with refurbished goods, a large market, which is predominantly unorganised. With Flipkart’s customer base, and F1 Info Solutions & Services in our group portfolio, I believe we can solve the key barriers to refurbished — trust and convenience — at scale"

Further added "As part of this launch, we will be stopping all customer transactions on eBay.in on August 14, 2018 and transitioning to the new platform"

eBay had said “which will represent gross proceeds of approximately $1.1 billion”. California-headquartered eBay sold its India business to Flipkart in 2017 and paid $500 million for a stake of around 5% in the company. eBay India was named Mint-Kart earlier.

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