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Last Updated : Jul 24, 2018 07:52 PM IST | Source:

Flipkart plans to shut eBay in India, launch new platform to sell used goods

The company will be stopping all customer transactions on from August 14

Moneycontrol News @moneycontrolcom

Flipkart is planning to shut and launch a new platform to sell used goods as the firm looks to solve key barriers to refurbish customer's trust and convenience at scale, according to a report in The Economic Times.

“Based on our learnings at, we have built a brand new value platform launching with refurbished goods — a large market which is predominantly unorganised,” chief executive Kalyan Krishnamurthy said in an email to employees.

The Bangalore-based e-commerce giant has been operating for the past one year.

 The company will be stopping all customer transactions on from August 14, 2018, for a smooth transition to the new platform.

"Our endeavour will be to ensure that all sellers and customers migrate to the new platform over time with a remarkably enhanced experience,” Krishnamurthy said, adding that the new platform would have a different value proposition compared to Flipkart. It would cater to a different target audience.

“We are committed to investing in this independent brand,” Krishnamurthy said.

In May, the California-based eBay had announced it plans to relaunch eBay India after selling its $1.1 billion stake in Flipkart to US retail giant Walmart. "Following the close of the transaction, we also will be ending our current strategic relationship with Flipkart, which includes unwinding our commercial agreements with Flipkart and terminating Flipkart’s license to use the brand," eBay had said in a statement earlier.
First Published on Jul 24, 2018 01:53 pm
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