Qlapa, an Indonesian handicrafts marketplace, has shut down.
The company published a statement on its website and social media channels to announce the shutdown – the platform itself is no longer accessible.
In the statement, Qlapa alluded to its inability to build a profitable and sustainable business.
Tech in Asia has reached out to co-founder and CEO Benny Fajarai for comment.
Qlapa was founded in 2015 by Fajarai and co-founder Fransiscus Xaverius, who saw a US$20 billion opportunity in the Indonesian handicrafts market.
The startup notably raised its seed round from Global Founders Capital, a VC firm founded by the Samwer brothers of Rocket Internet.