Shopee shuts down India business
Zee News
The development comes after a month of government banning 54 Chinese apps including Garena Free Fire of the Singapore-registered Sea Group.
New Delhi: Amid global market uncertainties, e-commerce firm Shopee on Monday announced shutting down of business in India within months of its entry to the country.
The company, operated by Singapore based Sea Limited, had in February closed down its operations in France as well.
"In view of global market uncertainties, we have decided to close our early stage Shopee India initiative," Shopee said in a statement.
According to a source, the company will assist its 300 employees in getting jobs and will pay severance packages to the employees who fail to secure any job.
The development comes after a month of government banning 54 Chinese apps including Garena Free Fire of the Singapore-registered Sea Group.
