Online retail platform JadoPado has shut down its marketplace after being acquired by a large regional business. The name of the buyer has been kept top secret.
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JadoPado started business in 2011. In 2014, the e-commerce website resorted to diversification and became an online marketplace.
The JadoPado team will be moving into executing great new work now, said a statement released by the company, adding that "our grand experiment is at an end after 2,420 days."
But don't worry about the pre-orders. Orders that have already been placed will be fulfilled by sellers. If a seller is unable to process or fulfill your order, it will be cancelled and you will receive a full refund, the company assured.
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"We will release any amount that has been pre-authorised and it will be credited back to your account by your card issuer," said a JadoPado statement.
The company put its value at $102 million in November 2015. Last year, the registered sellers on its website zoomed past 80 percent.
The acquisition of JadoPado comes close on the heels of Amazon buying Souq.com.
