ShopClues

Last updated

Shopclues.com
Shopclues.svg
Screenshot
ShopClues website screenshot.png
Type of site
 E-commerce
Available in English
FoundedJuly 2011;12 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$26 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

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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. 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" . 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.
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