Flipkart will shutdown eBay.in, launch new platform to sell refurbished goods

After buying a large stake in Wal-Mart's Flipkart, American e-commerce company eBay has planned to exit. Flipkart has been operating eBay for the past one year. The company has said that it will start its business in India with a fresh start.

Launches new platform

Flipkart's Chief Executive Kalyan Krishnamurthy told employees in an email that the company will launch a new platform to sell refurbished goods. According to the news, the email said that on the basis of our experience with eBay, we will launch a brand new platform with refurbished goods. It is a large market that is occupied by the unorganized market.

The transaction will not happen from August 14

With the launch of a new website for refurbished products, the company will discontinue all customer transactions from eBay on 14th August 2018. Krishnamurthy also said that it will be our endeavor that all the sellers and customers of eBay.in will go on new platforms over time. The new platform will be different from Flipkart and it will target different types of customers. He said that we are committed to investing in this new independent brand.