It’s a sad day for shoppers who scour the depths of the internet world for the lowest prices and biggest discounts.
Ensogo, a commerce website known for offering discounted daily deals, is shutting down all business units in Southeast Asia and laying off staff.
The company’s co-founder Kris Marszalek has also quit his CEO post.
“Ensogo Australia […] will no longer provide financial support to its subsidiary Southeast Asian flash sales and marketplace business units. These business units will be shut down. All staff have been informed and communications will be made to customers in the coming days,” reports Tech in Asia.
“This (sic) decisions have been made to preserve the company’s cash for new investment opportunities,” it said.
Formerly known as iBuy, Ensogo owns a network of ecommerce websites in Hong Kong, Singapore, Malaysia, the Philippines, Indonesia, and Thailand.
As of June 21, 5pm, the Ensogo Philippines website is still up and running.
