Mercari Inc. has announced it will close three of its start-up services: inter-trade app MercariMaisonz, recommerce business Mercari Now and skill-sharing service Teacha.me. The company also operates the well-known c-to-c marketplace Mercari in Japan, the U.S. and the U.K..
In a news statement, the company said all three sites will be closed towards the end of August. The company cited a “rearrangement of management resources” and upcoming upgrades to the Mecari app as reasons for the shutdown. The app recently surpassed the 1 billion listings mark (we reported on it here).
It’s safe to say that the shutdowns have nothing to do with the company’s financial status, which is quite strong. Mercari Inc bagged $1.2 billion U.S. when it debuted on the Tokyo Stock Exchange last month (we reported on the IPO here). It raised another $47 million U.S. from undisclosed investors in April.
The terminated services were run under the company’s app development wing Souzoh.com.
Mercari Now was launched in Dec. last year (we reported on the launch here). Teacha was only about three or four months old (we reported on its curtain-raiser here). MercariMaisonz has been operating since Aug. last year (we reported on its launch here).