From social networking to an e-commerce website, Multiply finally decided to shutdown its operations for good despite the efforts to remodel its core application.
It was last year when Multiply decided to reinvent its core business into an online marketplace, however, this wasn’t enough to keep it online.
On Friday afternoon, April 26, Multiply officially announced its business shutdown. The statement on their main page reads:
We regret to announce that Multiply will be closing on May 6, 2013 and ceasing all business operations by May 31, 2013.
Multiply will maintain normal site operations through May 6. We will use the rest of May to make sure the all accounts are settled and that merchants receive full payment for all the transactions they completed on our platform. This will also provide our merchants with time to find and migrate to alternative ecommerce platforms, settle all payments on items bought and delivered, and to minimize disruption to their businesses.
Multiply will ensure that you receive all funds you earned on the platform no later than May 31, 2013. We will close the actual marketplace sooner, on May 6, 2013, to ensure that all orders have sufficient time to complete and be delivered to your customers before the end of the month.
Merchants who have premium subscriptions should contact our customer support and we will ensure that they receive a full refund for the un-used time on your subscription.
Multiply was launched in 2003 as a social networking site that focused on media sharing such as photos, videos, blogs, and music. It was remodeled into an e-commerce site in 2012 but is eventually bidding goodbye in May 6, 2013.