Snapdeal's Shopo Marketplace to Shut Down on Friday

Snapdeal's Shopo Marketplace to Shut Down on Friday
Advertisement

Snapdeal-owned marketplace Shopo will close down from February 10, after a year and a half of operations.

The move comes at a time when Snapdeal is aggressively looking at optimising costs amid intense battle with Flipkart and Amazon.

"We started, a year and a half ago, from a small conference room with our mission to enable small and individual sellers across India to sell online. In this short time, we have together discovered the dynamism and vibrance in the C2C space in India," Shopo said in a blog post.

It added that its team has helped more than 2 lakh sellers start and grow their online shops.

"However, we realise that it will take some more years for a broader ecosystem to develop around the C2C segment," the blog said.

The SoftBank backed Snapdeal said that it has absorbed all Shopo employees.

In 2013, Snapdeal had acquired Shopo. The platform allows small and medium-sized businesses to chat, buy and sell on the platform on a zero-commission model.

In 2015, Snapdeal had also announced an investment of $100 million in the marketplace over the next two years.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Nokia 6 Isn't Being Sold in Flash Sales, It Just Sells Out That Fast, Clarifies HMD Global
HTC 10 evo Launched in India at Rs. 48,990: Release Date, Specifications, and More
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »