Flipkart shuts eBay India from 14th August 2018
Flipkart closes its eBay India tasks on 14th August 2018, three months after US retail Walmart purchased a 77 percent stake in it.
- (1888PressRelease) August 17, 2018 - The partnership between eBay and Flipkart was initiated in August 2017 and now it has come to an end. Flipkart is heading forward to launch a new platform to sell refurbished goods.
Flipkart raised $1.4 billion from worldwide innovation majors, for example, Tencent and Microsoft. Alongside offering its India's arm, eBay had additionally contributed $500 million for a value stake in the Indian online business advertising.
On the other hand, eBay India has stated that the platform will stop accepting the orders from 14th August 2018, as well as purchases less than 250 rupees and more than 8000 rupees will not be granted by eBay India.
Products sold or returned by 14th August will be protected under eBay Guarantee. The existing eBay account ID will not work on Flipkart nor its new platform. To purchase or sell anything, either the customer will need to have an existing Flipkart ID or they will have to create a new one.
The major reason for shutting eBay India is Negative feedback, Suspension, Faulty invoice but eBay has also mentioned that it will return with a new look in the Indian market.
It is also made sure that the eBay customers will not be affected as Flipkart has decided to find a new platform for selling refurbished goods. It will be different from Flipkart and it will target different types of customers. Flipkart also mentioned that they are committed to investing in this new independent brand.
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