website statistics

Payvment has officially exited from the f-commerce business, handing over its 200,000 merchants to Ecwid and being acquired by Intuit.
1 Star2 Stars3 Stars4 Stars5 Stars (Rate This)
Loading...

The Facebook e-commerce platform Payvment has undergone a huge makeover in the last two days. First, the news emerged that the company was shuttering its operations and handing over its 200,000 merchants to the rival, Ecwid. Now, it has transpired that Intuit has acquired the team, technology and patents of Payvment.


Payvment

Facebook commerce, or more commonly known as f-commerce, has become a rather popular domain of online commerce. However, despite the fact that Facebook has a huge audience, sales triggered by advertisement on the social network have shown little progress. Users often tend to like, comment or share stuff more often than actually buy something right off Facebook.

So while Payvment registered a significant growth ever since its launch, apparently the company wasn’t doing good enough. Its Russian rival, Ecwid, on the other hand, had shown solid growth and promising sales in recent months. Payvment recently decided to do away with its own venture altogether, handing over the 200,000 or so merchants it has to Ecwid in an open bid.

The company itself, including the team, the technology as well as the patents, was acquired by Intuit. Intuit is apparently quite happy with the acquisition. “Intuit has acquired a team of highly skilled developers who will be of great value to the social teams at Intuit,” the company said in a statement.

Thankfully, Payvment’s exit strategy has left its customers fairly safe from any damage. Ecwid is quite happy at securing some 200,000 new merchants and has dished out a statement referring to the bid, “We participated in this auction with some other undisclosed companies, won, and now we made it possible for Payvment’s customers to not suffer from them closing down the Facebook storefronts.”

In all, the changes for all three of the companies are such that each has turned out a winner. Ecwid has expanded its already well-progressing f-commerce platform, Intuit has secured excellent resources which will help it bolster the small businesses finance domain it currently caters to, and Payvment has been able to get great value in return for all of its resources.

Courtesy: TechCrunch

Buy Cheapest Related Product From Amazon.com


Apple Abandons Vine Promotion Due To Pornographic Uploads

HTC Rolls Out Invitations For A Press Event On February 19
You can also press the left/right arrow key on your keyboard to go to previous/next post
  On January 30, 2013(3 years, 5 months ago.)

You May Also Like:

What Do You Think?

Leave a Reply




Loading Facebook Comments ...

FTC Disclosure: Some of the links of this website are "affiliate links." This means if you click on the link and purchase the item, we will receive an affiliate commission.


Recent Search

Recent Tutorials

CiderTV is a great alternative to control Apple TV from the Notification Center. Check out this tutorial to set up CiderTV on your iPhone.
Are you annoyed by the split screen mode on the iPhone 6 Plus or 6s Plus? Check out this quick tutorial to turn off split screen feature.
If you could not wait to installed the iOS 10 beta version on you iPhone and now struggling for the errors, then this tutorial is for you.
Siri might not understand the question you asked. But you can use Siri by editing the text that you asked & it will give an updated answer.
Perhaps, you are new Apple user and you might have no idea how to change name of your iPhone. Check out this tutorial to change the name.
Check out this tutorial to lock Android phone using PIN code, Password or Pattern. Following the easy steps, you can secure your smartphone.
If you could not figure out yet, how to save and send GIF from your iPhone, then this tutorial is just for you.
Google released 'Ambient Display' feature with Android 5.x Lollipop. Check the tutorial to know how to turn off Android’s Ambient Display .
Have you recently got your 3D Touch iPhone 6s and struggling to delete apps? Go through the tutorial to learn how to delete or move the apps.
Just read this tutorial by yourself and from now on, we will show you, how you can make your iOS device read text loudly for you.
Close You Have To Login
User:
Pass:
Login With »Login With TwitterLogin With Facebook