Flipkart to shut eBay India in August

Expires on 2018-08-12

Flipkart has said it will shut down eBay.in, India’s oldest running e-commerce sites, reported The Times of India.

According to the report, Flipkart is planning to launch another online platform for refurbished or used products that will rival OLX.

“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…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,” CEO of Flipkart Kalyan Krishnamurthy said in a letter to employees as per the report.

The decision also marks the conclusion of diverging interst between eBay and Flipkart since the emergence of Walmart deal, the report said. As per the report, eBay, wanted to part ways with Flipkart since Walmart’s announcement of acquiring a 77 percent stake in the latter.
The US-based eBay had sold its Indian operations to Flipkart last year and paid $500 million for a stake of around 5 percent in the company.