Multiply.com to close shop on May 6, 2013

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The social shopping site Multiply.com will be shutting down its business operations on May 6th, after a series of failed bid to reinvent the platform from a social networking site to an e-commerce destination in Asia.

“We regret to announce that Multiply will be closing on May 6, 2013, and ceasing all business operations by May 31, 2013,” it announced Friday on its website.

In December, Multiply stopped its social networking service to focus on e-commerce, targeting the 350 million consumers in Indonesia and the Philippines.

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