Clues Network Pvt Ltd which operates the horizontal e-commerce marketplace ShopClues.com has raised $4 million in Series A funding from an undisclosed investor, reports TechCircle.in. The report states that the company had raised this funding in January 2012, but it was disclosed only now. Prior to this, it had raised angel funding of over $2 million from International angel investors, as indicated by a separate TechCircle report. The company plans to use the funds raised to improve its product catalogue and expand its operations to more cities in the country. It also plans to set up five more fulfillment centres across the country, thus increasing its total fulfillment centres to seven. Launched in December 2011, ShopClues.com is a fully managed e-commerce marketplace. It claims to be India's first and the largest fully managed marketplace in the country. While ShopClues doesn't have any inventory of its own, it allows merchants, brand owners and authorized dealers to showcase their product catalogue to prospective buyers, while taking care of the marketing, payment and the product fulfillment processes. According the company's website, it claims to offer over 20,000 products from over 250 global brands and over 200 online stores from leading brands/retailers and ship products to 4,800 The company also claims to generate 2,500 transactions every day with an average ticket size of Rs 900 and recorded Rs 12 crore in gross sales since launch. It hopes to touch Rs 100 crore in gross sales by December 2012, as indicated by the report. Similar Developments: In June 2012, eBay India had introduced a new initiative…
- Why did the Delhi High Court restrict use of Amitabh Bachchan’s image and voice? November 25, 2022
- Why did an Indian exchange, CoinDCX, publish its Proof of Reserves days after releasing its R2L ratio? November 25, 2022
- DPDP Bill, 2022 Has Received Good Response From Stakeholders: MeitY’s Ashwini Vaishnaw November 25, 2022
- Twitter Blocks Tweet of CJ Werleman’s YouTube Show Discussing Police Violence Against Indian Muslims November 25, 2022
- Unique Identification Authority of India (UIDAI) says verify Aadhaar as ID proof using QR November 25, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'
India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...
Why ‘group privacy’ should be recognised, and how ‘non-personal’ data becomes a regulatory blindspot
There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...