I received this sad news through my e-mail yesterday that Multiply.com will cease operation on May 31, 2013 following a failed attempt to reinvent itself from being a social networking site to an e-commerce site. Last November 2012, I remember that I was advised by Multiply to get all my photos from my Multiply account because it’ll stop social networking services to focus on e-commerce starting December 2012, targeting the 350 million consumers in Indonesia and the Philippines. It even offered several outrageous promo like the Php5,000 pesos discount/rebate on gadgets earlier this year. Multiply has helped a lot of budding entrepreneurs in the country like my favorite online shops kimstore and dbgadgets.
Here is the e-mail letter:
Dear Multiply Merchant,
We regret to inform you that Multiply will be closing the marketplace on May 6, 2013 and discontinuing all business operations by May 31, 2013.
Multiply will maintain normal site operations through May 6th and will wind things down through to the end of the month. We will use the rest of May to make sure that all accounts are settled and that you receive all funds you earned on the platform. We hope this provides you time needed to identify and migrate to alternative e-commerce platforms, settle all payments on items bought and delivered, and try to minimize disruption to your business.
In order to ensure that all your earnings are disbursed to you in full prior to May 31, we will cut off buying activity on May 6, 2013. This will ensure that all orders have sufficient time to be completed and delivered to your customers before the end of the month.
If you have a Trust Badge, please contact our customer support team and we will ensure that you receive a pro-rated refund for the remaining time on your subscription.
If my team can be of any assistance to you during this transition, we will do our best to help.
Multiply Country Manager – Philippines