E-commerce marketplace Snapdeal has shut down its C2C handicrafts marketplace Shopo, the company mentioned in a blog post. Snapdeal had acquired Shopo for an undisclosed amount back in 2013. Interestingly, in September, CEO Kunal Bahl said that the company would be investing $100 million in Shopo.
“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 2 lakh sellers start and grow their online shops,” the blog read.
Shopo said that it had 2 lakh sellers on its platform. The company added that the app and web storefront will stop working from 10 February, 2017 and that it will continue to be available on email to help sellers.
The company was launched in 2011 and operated as a zero commission mobile marketplace targeting small and medium businesses which combined chat and commerce on smartphones. Snapdeal had claimed that it did not take any fees. Sellers would be able to chat with their prospective customers and sell them products, taking into consideration the mode of transaction and delivery method. They would also be able to provide information, negotiate a price and arrange for pickup while closing transactions.
Snapdeal said it is fashioning Shopo along the lines of Alibaba Group’s Taobao marketplace which facilitated consumer-to-consumer (C2C) retail by providing a platform for small businesses and individual entrepreneurs to open online stores.
Last year, Snapdeal merged Exclusively.in, a luxury fashion store it had acquired in 2015. The Exclusively.in website was discontinued and would not accept orders from users while the brand would be retained.