Nishith
Member
Nearly 14 years after foraying into India, global e-commerce giant eBay forayed into India, it is closing down eBay.in and has stopped taking orders as of August 14.
Visiting eBay.in lands you on a page that reads, “Change is good! Sorry, you can no longer transact on eBay.in. But not to worry, Flipkart will introduce a brand-new shopping experience soon.”
While eBay.in has stopped taking new orders, users can continue to buy and sell on the global eBay website.
For orders already placed, eBay claims that all items bought on eBay.in are protected under eBay Guarantee and a claim can be raised for issues with any orders already placed. However, support will end on August 30, 2018, which is the last date for buyers to raise eBay Guarantee claims.
After operating as a marketplace, known for refurbished goods, eBay India was bought by Flipkart in 2017 as part of a fund raising round where eBay invested roughly $500 million, apart from $220 million worth of shares it bought by selling the India business to Flipkart.
The deal also included an agreement for cross-border trade opportunities, making eBay’s global inventory accessible to more India consumers, and give eBay’s millions of active buyers globally access to the Indian inventory provided by Flipkart.
However, with Walmart buying a 77% stake in Flipkart, eBay has cut ties with Flipkart. This also included unwinding its commercial agreements with Flipkart and terminating Flipkart’s license to use the eBay.in brand.
eBay will now relaunch in the country with a differentiated offer to focus initially on the cross-border trade opportunity. “We believe there is huge growth potential for e-commerce in India and significant opportunity for multiple players to succeed in India’s diverse, domestic market,” it said in a statement when it cut ties.
Flipkart too, will soon launch a new platform that sells refurbished goods based on its learnings from eBay.
Source: https://www.thenewsminute.com/artic...ndia-operations-stops-taking-new-orders-86521
Visiting eBay.in lands you on a page that reads, “Change is good! Sorry, you can no longer transact on eBay.in. But not to worry, Flipkart will introduce a brand-new shopping experience soon.”
While eBay.in has stopped taking new orders, users can continue to buy and sell on the global eBay website.
For orders already placed, eBay claims that all items bought on eBay.in are protected under eBay Guarantee and a claim can be raised for issues with any orders already placed. However, support will end on August 30, 2018, which is the last date for buyers to raise eBay Guarantee claims.
After operating as a marketplace, known for refurbished goods, eBay India was bought by Flipkart in 2017 as part of a fund raising round where eBay invested roughly $500 million, apart from $220 million worth of shares it bought by selling the India business to Flipkart.
The deal also included an agreement for cross-border trade opportunities, making eBay’s global inventory accessible to more India consumers, and give eBay’s millions of active buyers globally access to the Indian inventory provided by Flipkart.
However, with Walmart buying a 77% stake in Flipkart, eBay has cut ties with Flipkart. This also included unwinding its commercial agreements with Flipkart and terminating Flipkart’s license to use the eBay.in brand.
eBay will now relaunch in the country with a differentiated offer to focus initially on the cross-border trade opportunity. “We believe there is huge growth potential for e-commerce in India and significant opportunity for multiple players to succeed in India’s diverse, domestic market,” it said in a statement when it cut ties.
Flipkart too, will soon launch a new platform that sells refurbished goods based on its learnings from eBay.
Source: https://www.thenewsminute.com/artic...ndia-operations-stops-taking-new-orders-86521
