eBay India Closes Shop, Flipkart to Launch New Portal
eBay India, a Flipkart-owned ecommerce platform has shut down since August 14. eBay India products are going to be sold on a new ecommerce platform, yet to be launched. The new ecommerce platform will sell refurbished products.
Flipkart is expected to launch the new eCommerce platform shortly. It is mainly targeting refurbished products. The pre-owned products market is not organized at all.
On August 14, 2018, Flipkart shut down eBay India. This marked the partnership between Flipkart and eBay. The partnership started in August 2017.
Flipkart is all set to launch a new eCommerce portal for selling refurbished products. This looks like an effort to monetize the second-hand products market. The second-hand market for the most part is not structured.
eBay India’s Transition Page: FAQ’s
eBay India’s transition page states it will not accept new orders from August 14, 2018 onwards. Other than that, purchases amounting to Rs. 250/- or less and Rs. 8,000/- or more are not going to be accepted.
Customers can’t use their existing eBay accounts for purchases on Flipkart. Customers are going to have to register as new users.
All purchases or returns done before August 14, 2018 will be protected by eBay Guarantee. The purchase history is going to be available through My eBay and My PaisaPay. The new eCommerce portal catering to refurbished products will launch following the conclusion of every customer transaction on eBay India.
"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." -- Flipkart CEO Kalyan Krishnamurthy
The eBay India-Flipkart merger was announced in August 2017. Flipkart had raised $1.4 billion from eBay (global), Tencent, and Microsoft. eBay (global) had pumped-in $500 million for an equity stake in Flipkart. eBay (global) had given all operational functioning of eBay India over to Flipkart.
eBay (global) declared that their strategic partnership ended in May 2018. eBay (global) is planning to restart eBay India with a focus on cross-border trade.
Twitter SEO TAGS: #Microsoft #eBay #eBayIndia #Flipkart #India #TrendingNews #LatestNews #News #Tencent #PaisaPay #MyeBay #Update #Tencent
