Is Tradus shutting down operations?

Tradus is in the process of winding up.

The company which recently moved to a hyperlocal model recently saw the exit of its CEO,  Mudit Khosla; and from what we know, Tradus is shutting down its operations very soon.

Backed by Naspers, which also invested in Flipkart Tradus went through a similar senior management exit in 2012. The company which was launched in 2009 acquired Hyderabad based BuyThePrice in 2013 and recently pivoted to a hypelocal-mobile-only model, selling groceries etc.

Given the operational nature of grocery business and importantly, the low-margins, we believe there was very little patience left in Naspers group to continue with these experiments.

Ofcourse, Naspers traded Tradus for Flipkart and the shutdown was bound to happen.

Read story here, NextBigWhat.