What is Shopclues? Shopclues Review

history

Shopclues was founded in 2011 in Silicon Valley, California and is headquartered in Gurgaon, India.

introduce

Shopclues' sales concept is different from that of the three major Indian e-commerce platforms Amazon, Flipkart and Snapdeal. It mainly sells less well-known or even unbranded products, hoping to form differentiated competition, and its employees are distributed in various locations in the country. In addition, Shopclues achieved a good result of 35th place in India's overall e-commerce in 2011, and achieved great success as soon as it went online.

Financing

In July 2011, ShopClues received $2 million in seed round financing.

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

In May 2017, Indian e-commerce unicorn ShopClues raised 500 million rupees (1 rupee ≈ 0.1 yuan) from InnoVen Capital through venture debt. Venture debt is not the most common financing method.

In August 2018, Shopclues completed a new round of financing of 1.1 billion rupees (about 16 million US dollars), with investors including Singapore's sovereign wealth fund GIC Pte Ltd and Unilazer Ventures.

Awards

In 2013, it won the title of “Best E-Retailer of the Year – Transaction Value” at the 2nd Indian E-Retail Awards by Indian Franchise.

In 2015, launched 'Commute Commerce' to India through 'Ghar Wapsi Campaign' and won 2 Silver Effie Awards

In 2015, Business Today magazine named ShopClues "Coolest Startup of the Year."

In 2016, he won the Consumer Insight Award at the CMO Asia Awards.

In 2016, it won the Marketing Campaign of the Year Award at the CMO Asia Awards.

develop

In 2012, the total number of merchant registrations exceeded 5k.

In 2013, Sanjay Sethi was appointed as the new CEO and the team size reached 400 people.

In March 2014, Indian online retailer ShopClues announced the launch of a bulk purchasing platform, which will operate as an affiliate channel of its existing website. The platform allows customers to make bulk purchases, and merchants can also buy back goods on the platform.

In June 2015, ShopClues launched Capital Wings, a financing platform, to provide funding for its merchants’ businesses.

In August 2015, Shopclues launched the “Nearby Market” feature on its App, and its competitors followed suit.

In 2016, ShopClues received 100 million visits per month.

In 2016, ShopClues acquired the Momoe payment platform.

In May 2016, it joined hands with GoDaddy to assist small and medium-sized entrepreneurs in creating their own e-commerce websites.

In July 2016, the advertising platform AdZone was launched, where sellers can promote their products with the help of native and customized ads.

In November 2019, ShopClues was acquired by Singapore-based e-commerce platform Qoo10 in an all-stock transaction for approximately $70 million to $100 million. The acquisition also included ShopClues subsidiary Momoe, a Bangalore-based payment company that ShopClues acquired in 2016 for approximately $12 million.

References

• 1. Indian e-commerce company ShopClues was finally acquired for about $100 million: White Whale goes to sea [reference date 2019-11-04T16:00:00.000Z]
• 2. ShopClues: Marketplace-based e-commerce in India: 100ec [cited on 2015-01-19T16:00:00.000Z]
• 3. Shopclues launched the "Nearby Market" feature on its App, and competitors followed suit: Sohu [cited on 2015-08-18T16:00:00.000Z]
• 4. Indian e-commerce platform ShopClues received $100 million in Series D funding led by Tiger Global: techcrunch [cited on 2015-01-18T16:00:00.000Z]