May 26, 2022

Singapore giant C on Monday said it was closing its Shopee e-commerce business in India, months after the company began recruiting sellers in the country. The announcement follows India’s decision last month to ban the popular Game C “Free Fire” in the country, a move that resulted in the loss of Shopee’s market capitalization of more than $15 billion.

A source familiar with the matter told gaming-updates that the decision to close Shopee in India is not related to India’s free fire ban. The company said in a statement that it is terminating operations in the South Asian market given the “uncertainty in the global market.”

“Given the uncertainty in the global market, we have decided to discontinue our first Shopee India initiative. During this transition period, we will focus on supporting our local sellers and buyers, as well as our local team, to make the process as smooth as possible. A spokesperson for gaming-updates told gaming-updates, “We will continue to focus our efforts on making a positive impact on our global communities in line with our mission to improve the lives of disadvantaged people through technology.”

gaming-updates reported last September that Shopee had quietly launched a website for merchants in India. Considered a latecomer to Southeast Asia, the six-year-old e-commerce service has also taken sellers on board, offering them lucrative perks such as free shipping and no commission.

On Tuesday, the company will stop working in India. It plans to process all orders placed before March 29 and provide after-sales support services.

This is a history of development.

Leave a Reply

Your email address will not be published.