Ensogo to shut down operations in SEA
Social e-commerce company, Ensogo, has announced that is is shutting down its operations in Southeast Asia.
In a statement sent to Tech in Asia, Ensogo said that it “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,”
The company also added that the decision was made “to preserve the company’s cash for new investment opportunities.”
Ensogo started in Thailand in 2009 and entered the Philippines in July 2010. It also has presence in Indonesia and Hong Kong.
As of writing, Ensogo’s Philippines website is still up and offering deals.
source: Tech in Asia