Snapdeal to close consumer-to-consumer selling portal Shopo on February 10
Snapdeal will shut its consumer-to-consumer selling portal Shopo on February 10 this year.
Home-grown online e-commerce company Snapdeal recently announced to close its consumer-to-consumer (C2C) selling portal Shopo from February 10 this year.
"The e-commerce market in India will continue its robust growth. However, we realise that it will take some more years for a broader ecosystem to develop around the C2C segment. It is tempting to go on, but it is often beneficial to pause, take stock and plan ahead for greater success. It is time for us to pause the Shopo journey for now," cited Shopo on its blog post on February 3.
Snapdeal had acquired the C2C portal Shopo in 2013, according to The Times of India report. The recent development has emerged amidst Snapdeal struggling to raise fresh funds from new investors and focusing on cost-cutting measures.
Shopo is a platform for small and individual sellers to chat and sell products directly to consumers without any charges or commissions going to Snapdeal.
"While the Shopo app and web storefront will stop working from February10, 2017, we will continue to available at email@example.com for any help that you may need. We are committed to make this transition as smooth as possible for our partners," Shopo said in a blog post.
"We started, an 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. We thank you for your support and feedback that enabled our young team to help more than two lakh sellers start and grow their online shops," Shopo further said in a blog post.