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Shopclues

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Type of Business: Privet

Type of Site: E-commerce

Available in: English

Founded: July 2011

Headquarters: Gurgaon, India

Area served: India

Founders: Radhika Aggarwal, Sandeep Aggarwal, Sanjay Sethi

Key People: Sanjay Sethi

Industry: Internet

Services: Online Shopping

Website: www.shopclues.com

Launched: July 2011; 5 Year ago

Current Status: Online

 

About Shopclues

ShopClues.com is an online marketplace, headquartered in Gurgaon, India. The company was founded in California's Silicon Valley in 2011. It has over 12,000 registered merchants retail 2,00,000+ products on the platform to over 42 million visitors every year across 9500 locations in the country.

The e-commerce company is incorporated in Delaware.

ShopClues joined as 35th entrant in the Indian e-commerce in 2011. The company employs about 700 people across different locations.

 

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History of Shopclues

ShopClues is the subsidiary of Clues Network, a US Corporation and was founded in November 2011 by Radhika Aggarwal, her husband, Wall Street internet analyst Sandeep Aggarwal and Sanjay Sethi.

 

Funding of Shopclues

With Series E, ShopClues is now valued at more than $1.1 billion (Rs 7,300 crore) following undisclosed funding led by Singapore's sovereign wealth fund GIC.

In March 2013, ShopClues successfully completed its third round of funding. The company raised close to $10 million (Rs. 54 crores) from Hellion Venture Partners and Nexus Venture Partners. Nexus Venture Partners had previously led the Series a investment in the company in Feb 2012. With this round, ShopClues.com has raised over $15 million in capital so far.

ShopClues has other investors like Series B investors Hellion and Nexus and a Japanese Internet company. Prior to Series A, ShopClues had raised a round (in Aug. 2011) from angels including from early employees of companies like Google, Netscape and many serial entrepreneurs from Silicon Valley.

ShopClues has raised $100 million (Rs 620 crore) in Series C funding led by Tiger Global besides at least two of its existing investors. This values the company at around $350 million.

 

Business Result of Shopclues

Shopclues handles about 1.8 million transactions annually and around 42 million visitors a year. The company is already doing Rs 100 crores in annualised revenue based on its monthly run. It is targeting about 3.5 percent growth in the January numbers. The company witnessed growth of 250 percent from January 2012 to January 2013.

In January 2013, Shopclues posted an revenue of about Rs 8 crore and handled 1.52 lakh transactions compared to Rs 11 lakh in revenue and 200 transactions in January 2012. Now, the company is looking at handling about 30 lakh transactions and also expects the total visitors to website to cross 10 crores. Shopclues will launch its first ever advertising campaign in September 2014 and has earmarked Rs 75 crores for it.

 

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