Naspers e-commerce firm Markafoni to shut down

Naspers’ Turkish e-commerce site, Markafoni announced on Thursday that it will discontinue operations and close, effective 30 June, 2017.

Markafoni is an online shopping destination for Turkish consumers, specialising in clothing and fashion accessories.

“Despite initial success, the business is not scaling sufficiently to be sustainable and in a challenging economic environment for this type of business, the decision was taken to close.

“Markafoni would like to thank its customers and business partners for their loyalty over the years,” the company said in a statement.

Naspers noted that the closure of Markafoni is a standalone decision – for that business – and, as the business models are quite different, has no impact on other Naspers companies and investments in Turkey.

“We believe Turkey remains a good growth opportunity for these other businesses, which all continue to gain traction and scale,” it said.

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