Multiply.com Closes Down, Photo Sharing Website and Marketplace Bids Goodbye to the World Wide Web

Multiply.com Closes Down, Photo Sharing Website and Marketplace Bids Goodbye to the World Wide Web

Multiply will continue its operations until May 6 but will be ceasing everything by May 31. The social networking website became a portal for youth and photo sharers. It revolutionized Friendster and its features are parcels of the new fad these days: Facebook.

In a statement released by the social networking website, Multiply will end its operation in May 2013:

JAKARTA (Friday, April 26, 2013) — It is with deep regret that today we are announcing the closure of Multiply on May 6, 2013 and ceasing all business operations as of May 31, 2013.

“About a year ago, our local Multiply teams were given the mighty challenge of totally re-inventing the company,” said Stefan Magdalinski, Multiply CEO. “After much effort, we are forced to admit that we were not able to pull it off. I’m proud of my team for their diligence and determination, despite the disappointing outcome.”

Multiply will maintain normal site operations through May 6th, at which point the marketplace will close, and will wind down operations throughout the month of May to provide its merchants time to find and migrate to alternative ecommerce platforms, settle all payments on items bought and delivered, and generally minimize disruption to our merchants’ businesses.

In the meantime, Multiply’s shareholder MIH remains very optimistic about ecommerce in Indonesia and the Philippines and has recently increased its investment into its successful general classifieds businesses there — namely Tokobagus.com (Indonesia) and Sulit.com.ph (Philippines) who are #1 in each of their respective markets.