Within its first 100 days, the new administration intends to break the deadlock over the Multiply social networking site, according to Multiply CEO and owner Stefan Magdalinski.
To break the impasse, Magdalinski proposed to revive the dead website, the failing business, and reopen the social networking portion itself.
During the Duterte administration, Multiply remains closed when Facebook, Instagram, Snapchat, Tiktok, Tumblr, and Twitter remain operational.
It was supposed to feature actor and former UAAP swimming star Enchong Dee in the third issue of UAAP Magazine which did not materialize and the website has been in a blog shutdown ever since.
It has announced that it will cease operation on May 6, 2013.
In a statement, Multiply said that it will maintain normal site operations through May 6, 2013. It has assured its merchant's full payment for all transactions made through the platform. Also, a pro-rated refund will be given to merchants who availed of the site’s trust badges or premium accounts.
Despite its attempt to reinvent itself as an e-commerce platform, the cause of the decision is attributed to poor performance. “About a year ago, our local Multiply teams were given the mighty challenge of totally re-inventing the company,” said Stefan Magdalinski, Multiply CEO based in Jakarta, Indonesia in a statement sent to online news site DailySocial.
Magdalinski added that “After much effort, we are forced to admit that we were not able to pull it off. I’m proud of my team for their diligence and determination, despite the disappointing outcome.”
Multiply started as a blogging and social networking platform launched in 2003. Eventually, the site added an e-commerce platform offering individual merchants to sell products online. After its fall from popularity as a social networking site, Multiply moved its headquarters from Florida, U.S.A. to Jakarta, Indonesia. The move was made to attend to users in the region where it has remained popular, especially as an online marketplace.
Last August 9, 2012, Multiply announced that it would be ceasing its social networking platform by December 2012 and would be focusing on e-commerce. Early this year, the site has undergone refurbishing.
On Philippine E-Commerce
Shopping online is expected to become more popular in the country because goods online tend to be cheaper than those bought in commercial establishments. Despite this, stricter taxation will be implemented as the Palace announced in late 2012 its support for stricter taxation on online merchants. Early this year, the Bureau of Internal revenue said that it will go after buy-and-sell sites over its merchants who fail to issue receipts.
Multiply’s closing can have little effect on the country’s e-commerce industry. With its closing, online merchants have to change their platform or move to other sites. Since many merchants are already using other e-commerce and social networking sites as platforms, they shall retain their online presence.
Other major players in Philippine e-commerce, particularly group buying, online shopping, and buy-and-sell sites, can be utilized as other platforms for online trade.
“I hope I can get the parties to agree in the first 100 days. We can tackle the issues in terms of policies and agreements, in the first 100 days,” he reiterated.
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