eBay has announced plans to close GittiGidiyor, the Turkish marketplace they acquired a majority stake of in 2011.
Sellers will no longer be able to list on the platform effective immediately, buyers will not be allowed to make new purchases after July 18.
eBay says this strategic decision is not expected to have a material impact on Q2 or full year 2022 results with GittiGidiyor bringing only 4 million active buyers to eBay's consolidated total active buyer count.
However, as @unsuckEBAY points out, given existing pressure on eBay's active buyer numbers across the board, it may not be quite as "immaterial" as they'd like us to believe.
Full Press Release below:
SAN JOSE, Calif., June 20, 2022 /PRNewswire/ -- eBay Inc. (NASDAQ: EBAY) today announced it will be taking steps to close its marketplace business in Turkey, GittiGidiyor.
eBay acquired the majority stake in GittiGidiyor in 2011 and has operated the business as an independent platform. eBay regularly reviews its business operations globally and made this difficult but strategic decision based on the ongoing competitive dynamics in the market.
eBay will work closely with GittiGidiyor buyers and sellers to assist in the migration off the platform, and will share more detailed information with them directly later today. As of today, sellers will no longer be able to list new items and as of July 18, buyers will no longer be able to make new purchases. Buyers and sellers will be able to access their My Account page until September 5, 2022.
The closure of the GittiGidiyor business is not anticipated to have a material impact on eBay's Q2 or full year results. For reference, GittiGidiyor contributed approximately 4 million active buyers to eBay's consolidated active buyer count at the end of Q1 2022.