Apr 27, 2013

Multiply Marketplace Closing on May 6, 2013

After less than 6 months of being a dedicated e-commerce service, Multiply had suddenly announced that it will be closing its marketplace service on May 6.  This announcement came amidst several complaints both from sellers and buyers regarding various issues on their payment system.

Multiply's Announcement

Multiply's short-lived dabble in online selling was a great revolution of trying to foster honest selling and buying experience online.  Sellers had the option of using Multiply's escrow service that would accept payments from buyers thru Multiply system.  As a reward, sellers would gain points that would allow them to ship the items to the customer free of charge.

Several sellers had issues of not receiving the payment on-time since Multiply had a hard time disbursing the payments back to the sellers who should receive them.  For the buyers, the experience led them to believe that the sellers renegade on them and had turned scam after not receiving the items they paid for.
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