website statistics

Payvment has officially exited from the f-commerce business, handing over its 200,000 merchants to Ecwid and being acquired by Intuit.

What is the next Gadget you want?

View Results

Loading ... Loading ...
1 Star2 Stars3 Stars4 Stars5 Stars (Rate This)
Loading ... 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(1 year, 2 months ago.)

Recent Search

Recent Tutorials

At the beginning level, many people don't know how to use Gmail properly. For them, a here's a helpful guideline.
Skype now allows you to call directly from your Outlook account. Find the step-by-step installation process from this tutorial.
This tutorial helps you quickly resolve four of the most common problems that occur with Windows XP.
After releasing Look Back, many people didn't like it. So Facebook planned to add an Edit tool to the feature and now you can edit your Facebook Look Back video.
Do you want to record Skype calls but don't know how to do that? Then this guide is absolutely for you. Get inside the article for details.
Do you know that many companies can track you on Facebook? Do you want to know who they are? Do you want to block them?
So you've been planning on replacing your old hard drive with the new drive? This tutorial helps you with a few simple steps.
Bitcoin is a digital currency that has gained extraordinary momentum in the last few months. This tutorial helps you get started with the basics.
Android lockscreen can be secured in a number of ways, some of which are described in this brief tutorial.
This review of iSkysoft Video Converter tells you everything you want to know about this Win 8/7 compatible video/DVD tool. Check the below to learn more details.
Close You Have To Login
User:
Pass:
Login With »Login With TwitterLogin With Facebook