ShopClues

Last updated

Shopclues.com
Shopclues.svg
Screenshot
ShopClues website screenshot.png
Type of site
 E-commerce
Available in English
FoundedJuly 2011;13 years ago (July 2011)
Headquarters Gurgaon, Haryana, India
Area served India
Founder(s)
Industry Internet
Services Online shopping
Revenue Decrease2.svg₹209.46 crore (US$25 million) (2019) [1]
URL www.shopclues.com
Current statusActive

ShopClues is an Indian online marketplace, owned by Clues Network Pvt. Ltd. [2] The company was established in July 2011 by Sanjay Sethi, Sandeep Aggarwal and Radhika Aggarwal. [3] [4] In 2015, ShopClues was valued at US$1.1 billion, [5] with Tiger Global, Helion Ventures, and Nexus Venture Partners as major investors. [2] In 2019, the company was acquired by Singapore-based Qoo10 in an all-stock deal valued at approximately US$70 million, representing one of the largest valuation meltdowns for an Indian-based startup. [6]

Contents

Background

ShopClues provides unstructured categories of home and kitchen, fashion, electronics and daily utility items. [7] Around 70% of its Gross Merchandising Value (GMV) is received from Tier – II and Tier – III cities.

In June 2016, the online marketplace reached half a million sellers on its platform, claimed to be the highest in the Indian e-commerce industry. [8] The employee strength as of 2017 is more than 700 people. [9]

Key people

Mobile application

In 2015, the e-commerce player launched its Android app for sellers, and later added iOS apps. [10]

Growth

Acquisition

In July 2016, ShopClues collaborated with a hybrid e-commerce company, StoreKing to promote its products on the latter's app. In the same year, the company acquired Momoe, a Bangalore-based mobile payments company. [14] [15]

In 2016 ShopClues acquired the IP of a SaaS platform from Squeakee Media which was founded by Abrar Shaikh in Mumbai, India. [16]

In 2019, ShopClues was acquired by Singapore-based Qoo10 with stock valued at US$70 million. [6]

Investment

In December 2015, the company invested towards seed funding in HeyBiz, which is a real-time shopping assistant app. [17]

Funding

In January 2016, ShopClues raised US$100 million from Tiger Global Management and joined the Unicorn Club. [18]

Controversy

Awards and recognition

See also

Related Research Articles

Droom Technology Limited is an Indian company that maintains an online marketplace for buying and selling used and new automobiles. Founded in April 2014, the company is based in Gurugram, Haryana and also operates in Singapore, Thailand, and Malaysia, besides 1,161 Indian town and cities. In July 2021, Droom became Unicorn after raising $200 Mn in a pre-IPO funding round at a valuation of $1.2 billion.

<span class="mw-page-title-main">Bob Shop</span> South African online auction website

Bob Shop, formerly Bidorbuy or bidorbuy.co.za, is a South African e-commerce website based on an internet auction and online marketplace. Transactions on Bidorbuy are in South African Rand.

<span class="mw-page-title-main">Taobao</span> Chinese website for online shopping

Taobao is a Chinese online shopping platform. It is headquartered in Hangzhou and is owned by Alibaba. According to Alexa rank, it was the eighth most-visited website globally in 2021. Taobao.com was registered on April 21, 2003 by Alibaba Cloud Computing (Beijing) Co., Ltd.

Shopify Inc., stylized as shopify, is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. Shopify is the name of its proprietary e-commerce platform for online stores and retail POS (point-of-sale) systems. The platform offers retailers a suite of services, including payments, marketing, shipping and customer engagement tools.

<span class="mw-page-title-main">Nisha Agarwal</span> Indian actress

Nisha Aggarwal is a former Indian actress and model who appeared in Telugu, Malayalam and Tamil films. She is the younger sister of actress Kajal Aggarwal.

<span class="mw-page-title-main">Yebhi</span> Indian online shopping portal

yebhi.com was an Indian E-commerce portal for home, lifestyle and fashion, launched in the year 2009.

Freecharge is an Indian financial services company based in Gurgaon. It allows users to pay bills such as electricity, gas and telephone, as well as recharge mobile, broadband, DTH and metro cards.

<span class="mw-page-title-main">AliExpress</span> Online retail service based in China

AliExpress is an online retail service based in China and owned by the Alibaba Group. Launched in 2010, it is made up of small businesses in China and other locations, such as Singapore, that offer products to international online buyers. It is the most visited e-commerce website in Russia and was the 10th most popular website in Brazil. It facilitates small businesses to sell to customers all over the world. AliExpress has drawn comparison to eBay, as sellers are independent and use the platform to offer products to buyers.

Ghar Wapsi is the programme of religious conversion to Hinduism from Islam, Christianity, and other religions in India conducted by Indian Hindu nationalist organisations Vishva Hindu Parishad (VHP), Rashtriya Swayamsevak Sangh (RSS) and their allies. The term owes to the Hindu nationalist ideology that all people of India are ancestrally Hindu and, hence, conversion to Hinduism is one of "returning home" to their ancestral roots.

<span class="mw-page-title-main">Ola Consumer</span> Indian ridesharing company

Ola Consumer, formerly Ola Cabs, is an Indian transportation company that provides ride-hailing services and operates other business verticals such as financial services and cloud kitchens. It is headquartered in Bangalore, and operates in 250+ Indian cities.

Carousell is a Singaporean smartphone and web-based consumer to consumer and business to consumer marketplace buying and selling new and secondhand goods. Headquartered in Singapore, it also operates in Malaysia, Indonesia, the Philippines, Taiwan, Hong Kong, Macau, Australia, New Zealand and Canada. Carousell is available on both iOS and Android devices.

<span class="mw-page-title-main">Lazada</span> Singaporean-Chinese multinational technology

Lazada Group is an international e-commerce company and one of the largest e-commerce operators in Southeast Asia, with over 10,000 third-party sellers as of November 2014, and 50 million annual active buyers as of September 2019.

<span class="mw-page-title-main">Qoo10</span> Singaporean multinational e-commerce platform

Qoo10 is a Southeast Asian e-commerce platform, formerly known as GMarket, headquartered in Singapore. It operates localized online marketplaces across Singapore, Indonesia, Malaysia, mainland China, and Hong Kong, and on one international online marketplace. It optimizes its platform and services for small and medium enterprise merchants.

Radhika Ghai Aggarwal is an Internet entrepreneur and India's first woman to enter the Unicorn Club. She is the co-founder of online marketplace ShopClues established in 2011 in silicon valley. Currently, she serves as the chief business officer of the company.

Sanjay Sethi is a mechanical engineer and Internet entrepreneur. In 2011, he co-founded ShopClues, a Gurgaon-based online marketplace for unbranded goods. He is currently the Chief Executive Officer of the company.

<span class="mw-page-title-main">Haptik</span> Indian enterprise conversational AI platform

Haptik is an Indian enterprise conversational AI platform founded in August 2013, and acquired by Reliance Industries Limited in 2019. The company develops technology to enable enterprises to build conversational AI systems that allow users to converse with applications and electronic devices in free-format, natural language, using speech or text. The company has been accorded numerous accolades including the Frost & Sullivan Award, NASSCOM's Al Game Changer Award, and serves Fortune 500 brands globally in industries such as financial, insurance, healthcare, technology and communications.

<span class="mw-page-title-main">Wish (company)</span> American online e-commerce platform

Wish is an American online e-commerce platform for transactions between sellers and buyers. Wish was founded in 2010 by Piotr Szulczewski and Danny Zhang.

<i>May I Come In Madam?</i> season 1 Indian Hindi-language sitcom TV series

The first season of the Indian Hindi-language comedy drama television sitcom May I Come In Madam? aired on Life OK from 7 March 2016 to 25 August 2017. Produced by Binaifer S Kohli and Sanjay R Kohli under Edit ll production, it stars Neha Pendse, Sandeep Anand and Sapna Sikarwar.

<span class="mw-page-title-main">Meesho</span> Online commerce platform based in India

Fashnear Technologies Private Limited doing business as Meesho is an Indian e-commerce company headquartered in Bangalore. It is an online marketplace that facilitates trade between suppliers, resellers and customers, with heavy reliance of external social media platforms such as Facebook and Instagram.

References

  1. ↑ Bhalla, Kritti (27 December 2019). "Shopclues Narrows Losses To INR 68 Cr Even With Reduced Revenue". inc42.com. inc42. Retrieved 30 May 2020.
  2. 1 2 "ShopClues plans acquisition spree to accelerate expansion". Mint. 8 December 2015. Retrieved 5 November 2017.
  3. ↑ "ShopClues.com rolls out official brand stores". 3 April 2013. Retrieved 5 November 2017.
  4. ↑ "ShopClues poised for a strong rural push". The Hindu Business Line. 21 July 2017. Retrieved 5 November 2017.
  5. ↑ "StoreKing: The friendly, neighbourhood etailman". Forbes India . 7 July 2016. Retrieved 5 November 2017.
  6. 1 2 Shrivastava, Aditi; Gooptu, Biswarup. "Singapore-based e-commerce platform Qoo10 acquires ShopClues in all-stock deal". The Economic Times . Retrieved 17 December 2019.
  7. ↑ "Standing Out". Business Today (India). 21 June 2015. Retrieved 5 November 2017.
  8. ↑ "ShopClues to help vendors go online with GoDaddy". The Economic Times . 16 May 2016. Retrieved 5 November 2017.
  9. ↑ "We've already toppled Flipkart, Snapdeal: Shopclues CEO". Business Standard . 26 January 2016. Retrieved 5 November 2017.
  10. ↑ "ShopClues brings an Android based seller app to boost its merchants business". 29 January 2016. Retrieved 5 November 2017.
  11. ↑ "ShopClues launches financing platform for SMBs". Business Standard . 12 June 2015. Retrieved 5 November 2017.
  12. ↑ "ShopClues and GoDaddy tie up to offer online stores for small businesses". International Business Times . 18 May 2016. Retrieved 5 November 2017.
  13. ↑ "ShopClues launches native ad platform AdZone". 26 July 2016. Retrieved 5 November 2017.
  14. ↑ "Shopclues buys a payments company just like its competitors". 15 July 2016. Retrieved 5 November 2017.
  15. ↑ "With Rs 330 crore in pocket, Shopclues goes shopping". Hindustan Times . 7 April 2016. Retrieved 5 November 2017.
  16. ↑ https://www.linkedin.com/in/abrar-s-187a6512/ [ self-published source ]
  17. ↑ "ShopClues invests in chat app HeyBiz". VCCircle. 8 December 2015. Retrieved 5 November 2017.
  18. ↑ "ShopClues joins billion dollar club". Mint. 13 January 2016. Retrieved 5 November 2017.
  19. 1 2 "Ray-Ban drags online marketplace Shopclues to Court for selling fake eyewear". The Economic Times . 27 August 2015. Archived from the original on 5 September 2015. Retrieved 5 November 2017.
  20. ↑ "Shopclues.com Reviews and Ratings - MouthShut.com". www.mouthshut.com. Retrieved 17 October 2019.
  21. ↑ "shopclues-complaints | Complaint Box India". 12 January 2019. Retrieved 17 October 2019.
  22. ↑ Malviya, Sagar (16 November 2018). "L'Oréal India wins judgement on counterfeits against Shopclues". The Economic Times. Retrieved 17 October 2019.
  23. ↑ Layak, Suman. "How ShopClues founder Sandeep Aggarwal survived a run-in with Preet Bharara and kept his dreams afloat in adversity". The Economic Times. Retrieved 20 July 2020.
  24. ↑ Layak, Suman. "How ShopClues founder Sandeep Aggarwal survived a run-in with Preet Bharara and kept his dreams afloat in adversity". The Economic Times . Retrieved 17 December 2019.
  25. ↑ "ShopClues Ghar Wapsi campaign gets home a Gold from the APAC Effie Awards 2016". 25 April 2016. Retrieved 5 November 2017.
  26. ↑ "6th India Digital Awards felicitates worthy achievers". 12 February 2016. Retrieved 5 November 2017.
  27. ↑ "ShopClues Wins Silver Awards At The Effies 2015". 29 January 2016. Retrieved 5 November 2017.
  28. ↑ "ShopClues.com wins accolade for 'Advertising Campaign of the Year' at Indian e-retail awards 2015". 21 April 2015. Retrieved 5 November 2017.
  29. ↑ "Coolest Start-ups in India 2015". Business Today (India). 2 June 2015. Retrieved 5 November 2017.
  30. ↑ "2015 DMA Asia ECHO Winners - 2015 DMA ASIA ECHO™AWARDS" . Retrieved 5 November 2017.
  31. ↑ "2013 Red Herring Asia Top 100 Winners" . Retrieved 5 November 2017.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.