As Flipkart-Owned EBay India Shuts Shop On August 14, Its Products Will Now Sell On A New Platform
New Delhi: Flipkart is set to shut down the operations of eBay India on August 14, marking an end to the strategic partnership that began in August, last year.
Flipkart will now launch a new platform to sell refurbished goods in an attempt to tap into the market of pre-owned goods, which as of now, is largely unorganised.
The transition page of eBay India states that the platform will stop accepting new orders from 14th August 2018. Moreover, purchases worth less than Rs 250 and more than Rs 8,000 will not be permitted on eBay.in.
Customers will not be able to use their pre-existing eBay account to make purchases on Flipkart and will have to register as a new user for the same.
It further stated that all purchases made or returns furnished up to August 14, will be protected by eBay Guarantee. Also, the purchase history of every user will be available on My PaisaPay and My eBay.
Late last month, Flipkart CEO Kalyan Krishnamurthy in an email to his employees stated that the company will launch a new platform for refurbished goods, immediately succeeding the termination of all customer transactions on eBay.in.
“Based on our learning at eBay.in, we have built a brand new value platform launching 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 14th August 2018 and transitioning to the new platform,” wrote Krishnamurthy in the mail.
The Flipkart-eBay India merger was announced in August last year when the Indian e-commerce giant had raised USD 1.4 billion from global technology majors such as eBay, Microsoft, and Tencent.
As part of the deal, eBay invested USD 500 million for an equity stake in Flipkart and handed over all operations of eBay India to Flipkart.
eBay announced the end of the strategic partnership in May this year, stating that it will relaunch eBay India with a differentiated offering to focus on cross-border trade.
Courtesy: MoneyControl
