Shopo, the online marketplace for quirky and handicraft products owned by Snapdeal, is going to shut down after a year and a half of trying to make it in India’s crowded ecommerce market.
In a blogpost titled Goodbye from Shopo, the ecommerce site says the Shopo team realised that “it will take some more years for a broader ecosystem to develop around the C2C segment,” and that while the app and website will be shut on Feb 10, the team will be around to take email queries and solve seller or customer problems.
“It is tempting to go on, but it is often beneficial to pause, take stock and plan ahead for greater success. It is time for us to pause the Shopo journey for now,” the blog says.
Shopo says it has some four million products registered on its site, sold by about 1,50,000 sellers.
Snapdeal bought Shopo in 2013 and relaunched the site as a mobile-only marketplace in 2015, with an investment of US$100 million. Shopo was an open marketplace that let sellers and buyers chat on their smartphones and had a zero-commission, and zero fees policy.