Shopee closes its operations in Spain

Shopee closes its operations in Spain

Just eight months ago, the Singaporean marketplace shopee arrived in Spain. Now on his website you can read «Dear customers, we regret to inform you that will stop operating from 11:59 p.m. on June 17, 2022″.

The company also shared in the statement that until the closing date it will be possible to continue making purchases normally. In addition, the after-sales services will continue to be maintained in case there is any type of incident. Shopee closes the notice by thanking the users who have trusted them and apologizing for “possible inconvenience this may cause.«.

A Singaporean marketplace competing against Alibaba

Shopee is a platform born in 2015, it was incubated by the Sea technology group, whose largest investor is the Chinese technology group Tencent. Its growth and expansion have made it one of Alibaba’s main competitors.

According to the financial report of March 2021Shopee already got a GMV of 354,000 million dollars, which means that it doubled the figure for the previous year with a volume share of 57% in the region. However, things are not going well for the company.

Shopee leaves France

On March 6, Shopee closed in France explaining that “after a preliminary pilot In the short term, we have decided do not continue with the Shopee service in France”. A news that attracted a lot of attention, because France had become one of the most significant new markets for the Internet giant based in Singapore. This decision was made after the Sea group lost 16,000 million dollars of its value when New Delhi abruptly banned its most popular mobile game title.

At the end of March, Shopee also closed in India and the company disassociated the closure from the ban on the Sea Group video game.

The season of curves is coming

In the last month the news about “X will fire employees” has become the most normal. Shopee is no exception. As the newspaper has learned The Straits Times Shopee’s CEO, Chris Fenghe said he is «making some adjustments to optimize our operations in certain segments and markets«. «Given the heightened uncertainty in the broader economy, we believe it is prudent to make some difficult but important adjustments to improve our operating efficiency and focus our resources.“, he added.

There will be layoffs in the ShopeeFood and ShopeePay teams, in addition, part of the Mexico, Argentina and Chile team will be laid off. “Our business will continue to operate as usual in Shopee Mexico, Argentina, Chile, as well as for ShopeeFood and ShopeePay in Southeast Asia.» explained the executive director.

Layoffs that are added to those that will already be in Shopee Spain with its closure of operations.


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