Amazon.com, Inc. (NASDAQ:AMZN) has announced to shut down its online platform for ecommerce that was specially designed and built for small business. Small business around the world made their own platforms using Amazon.com, Inc. (NASDAQ:AMZN)’s subdomains and subsidiaries. Thousands of people monetized on these platforms, but the company announced recently that this platform facilities will be closed by June next year. This is not a unique and surprising step. Recently, eBay Inc (NASDAQ:EBAY) also announced to close its Magento online ecommerce service which was used by small business owners to sell their products online using eBay services.
Amazon.com, Inc. (NASDAQ:AMZN) and eBay Inc (NASDAQ:EBAY) didn’t give reasons for closing these established platforms. Thousands of small business used these services. There is a chance that the companies didn’t find any value and revenue opportunities in these platforms. Giving an ecommerce services to vendors online is not what Amazon.com, Inc. (NASDAQ:AMZN) and eBay Inc (NASDAQ:EBAY) are looking forward to in this disruptive online world. Both companies are opening new horizons of research and product development. Amazon.com, Inc. (NASDAQ:AMZN) is trying to refine and speed-up its delivery methods and physical stores whereas eBay Inc (NASDAQ:EBAY) is still figuring out what to do after PayPal spin-off.
Amazon.com, Inc. (NASDAQ:AMZN) and eBay Inc (NASDAQ:EBAY) want to build ecosystem around their platforms. This is why both companies are now in a transition phase to build their own payments. Amazon.com, Inc. (NASDAQ:AMZN) is already trying to build its own login and payment services. It will cut down the flexibility it gives to the shoppers and small business. eBay Inc (NASDAQ:EBAY) is also reportedly building its own payment system after parting ways with PayPal.
Ken Fisher’s Fisher Asset Management owns over 2.4 million shares in Amazon.com, Inc. (NASDAQ:AMZN).
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