Official notice about the closure is released on 31st January 2020. The complete cessation of business is scheduled on 31st May 2020. A sad news but not too surprising. In recent years they have been active in enhancing the platform, like renewing the design and promoting their mobile app. They even release their own payment system (sort of). Apparently, the new changes are not so readily retaining new prospects. Well, we still have Taobao for much of our online shopping needs.
Curiously it is hosted on a tumblr site. Are they planning to close other subsidiaries in Hong Kong?
Source : Yahoo Tumblr Page