Flipkart Launches New Platform for Refurbished Goods as a Replacement of eBay

Flipkart today announced a new and dedicated portal ‘2Gud’ for refurbished goods, including mobile phones, laptops and tablets, a week after shutting its eBay India operations. “The independent platform ‘2Gud’ aims to bring affordability, accessibility and availability to the refurbished market, while also addressing the problem of trust and convenience,” the company said. The platform offers refurbished mobile phones, tablets, laptops and other electronic accessories along with a 3-12 month warranty.

flipkart-refurbished-store-ebay

“Through 2Gud, we aim to remove the trust deficit that exists in the refurbished goods market,” the city-based company’s Chief Executive Kalyan Krishnamurthy told reporters at PTI. The platform has been launched on mobile browsers initially through the site 2gud.com, and it will soon be accessible through desktop browsers and a mobile application. The company’s executives, however, declined to give the investment being made in its new arm.

“Every product that is sold on the platform goes through about 47 rounds of checks and is sold in five grades based on their physical condition — ‘Like New’, ‘Superb’, ‘Very Good’, ‘Good’ and ‘Okay’,” the company’s Vice President heading 2Gud operations Anil Goteti said.

The prices of products on the platform will vary based on their condition. With the refurbished goods market remaining “highly fragmented and unorganised”, 2Gud will remove the buyer-seller interaction by performing the necessary quality checks itself, Goteti said.

The platform also allows customers to return their products, he added. The company estimates the refurbished goods market in India to be worth $20 billion in the coming five to six years. The launch of the independent platform for old goods, which was developed over the last ten months, comes a week after Flipkart shut down the eBay India operations on August 14.

Several of eBay India’s staff are now working with Flipkart’s new arm for refurbished goods, the company’s executives said, though they declined to share the specifics. The Bengaluru-based Flipkart in 2017 acquired eBay India’s operations in a $1.4 billion fund-raising deal from several investors, including eBay, which invested $500 million and received $200 million worth of stocks in Flipkart.

With Walmart acquiring a majority stake (77%) in Flipkart in a $16 billion (Rs 1,07,662 crore) deal in May this year, California-based eBay had announced that it would sell its stake in Flipkart back to the company for about $1.1 billion and relaunch its India business soon.

Read more on:

Arpit spends his day closely following the telecom and tech industry. A music connoisseur and a night owl, he also takes a deep interest in the Indian technology start-up scene and spends rest of his time spilling poetry and stories on paper.

3
Leave a Reply

avatar
Photo and Image Files
 
 
 
2 Comment threads
1 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
2 Comment authors
geekSandeep Bansal, Manipal Recent comment authors
newest oldest most voted
Sandeep Bansal, Manipal
Sandeep Bansal, Manipal

Cool!!!

geek
geek

Flipkart is selling used phones at 2gud at thrice the price it offers for old phones on the main site !!

geek
geek

I don’t mind ! 😀

Recent Posts

Netflix Testing Low-Cost Subscription Plan for Mobile Users in India: Report

It is a long time rumour that Netflix is planning to bring low-cost plans for developing countries like India in...

Reliance Jio GroupTalk: Guide from Setting Up the App to Making Your First Conference Call

A few weeks back, Reliance Jio released a new app under its portfolio which was found to be a unique...

BSNL Starts Offering VoLTE Service in Select Circles, Public Rollout Expected to Happen Next Quarter

BSNL has been testing 4G services with its existing spectrum across all its major circles. In fact, in most parts...