Source: News Bharati English20 Aug 2016 14:40:04

New Delhi, August 20:  A popular e-commerce start up and internet search platform AskMe has shut down and is in the process of discharging its 4000 employees. According to the reports, the shutdown was followed by a severe financial blow to the company leaving it with no option other than the closure. The portal is still live but orders placed there are being accepted.
Also, The Malaysian billionaire Ananda Krishnan-led majority investor Astro Entertainment Networks Limited (AENL) exited AskMe a few weeks ago, due to disagreements with the minority shareholders. The unplanned exit of one of its principal investor which was Astro Holdings took down the business of the E-commerce start up. It had made its last investment of Rs 150 crore. AskMe wrote to the Ministry of Corporate Affairs and Registrar of Companies against Astro Holdings leaving without meeting its liabilities and commitments, but it was far from useful to the re-establishment of the company.

Also, it was noted that around 650 employees had already resigned from AskMe in the recent days that had annual salary packages between Rs 2.5 lakh to 6 lakh. This sudden shutdown has affected more than 4,000 employees, vendors and other creditors.

AskMe was started in 2010 and it launched its online shopping site called ‘AskMeBazaar’ in 2012 with small and medium enterprises. AskMe is associated with around 12,000 merchants in 70 cities. It also offered next-day delivery. Similar shut down was recently faced by Ola’s ‘TaxiForsure’ which resulted in several employees losing their jobs.