eBay, the US e-marketplace operator, announced that it will end the operations of GittiGidiyor, which it bought a majority stake for $217 million in 2011.
“Regularly reviewing its global operations, eBay has made this difficult but strategic decision, taking into account the ongoing competitive dynamics in the market,” eBay said in a statement.
According to the statement, as of today, sellers will not be allowed to post new products. As of July 18, purchases will be terminated. Users will have access to their accounts until September 5.
In the statement, it was stated that the closure of GittiGidiyor is not expected to have a significant impact on eBay’s second-quarter or year-end balance sheet.
Gittigidiyor was established in 2001.
