wordpress blog stats
Connect with us

Hi, what are you looking for?

ShopClues Raises $10M From Helion Venture Partners, Nexus Partners & Others

Shopclues Logo

Clues Network Pvt Ltd which operates the horizontal e-commerce marketplace ShopClues.com has raised Rs 54 crore ($10 million) from Helion Venture Partners, Nexus Partners and Netprice.com CEO Teruhide Sato, reports The Economic Times. The report states that the company plans to use the funding raised to expand to more cities in India.

Prior to this, Shopclues had raised around $15 million across multiple funding rounds, as indicated by the report. This includes a $4 million Series A funding in September 2012, and more than $2 million angel funding from unknown International angel investors in December 2011.

Launched in December 2011, ShopClues.com is a fully managed e-commerce marketplace. While the company doesn’t have any inventory of its own, it allows merchants, brand owners and authorized dealers to showcase their product merchandise to prospective customers, and takes care of the marketing, payment and the product fulfillment processes.

The company claims to offer more than 250,000 products across more than 550 categories like electronics, fashion, jewelry, health & nutrition, books, gaming, sports and pet supplies among others. It also claims to have products from more than 2,000 global and regional brands on its platform.

As of September 2012, the company had claimed to be generating 2,500 transactions per day with an average ticket size of Rs 900 and had recorded Rs 12 crore in gross sales since launch.

Advertisement. Scroll to continue reading.

Other E-commerce Marketplaces

Of late, we have quite a few e-commerce players opting for the marketplace model in a bid to be compliant with India’s FDI policy. Foreign Direct Investment in e-commerce has not been allowed in India but it currently allows marketplaces, which merely act as a platform for sellers to find buyers for their products and don’t retail their own goods, can take foreign direct investment. Other e-commerce marketplaces in the country include:

Infibeam – Earlier this month, Infibeam changed its business model from being a pure e-commerce business to a hybrid venture which will be partly a marketplace and partly an e-commerce retailer. The company claimed that it had already signed up more than 1,000 sellers for this marketplace offering in the past two months.
– Ebay India – previously known as baazee.com
– Snapdeal – started out as a deals site and then morphed into a marketplace.
– Indiatimes Shopping – started out as a marketplace, and has now chosen a hybrid approach. While it was a pureplay marketplace, Indiatimes had funding from Sequoia Capital India, which it bought back.
IndiaPlaza – Probably one of the oldest marketplaces in the country which was started in 1999.
BuyThePrice – started off as an e-commerce venture but opted for an marketplace model in December 2012, as indicated by a TechCircle report. It has raised funding from Naspers and from a series of angel investors including Google India MD Rajan Anandan, Rehan Yar Khan, Sunil Kalra and many others.
Rediff Shopping

Last month, Flipkart had officially revealed its plans to launch a marketplace, and was looking to sign up external sellers for the launch of its marketplace. The company is yet to launch its marketplace, but it had sold its front end retail operations WS Retail to a group of investors led by former OnMobile COO Rajiv Kuchhal last month.

Advertisement. Scroll to continue reading.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

While the market reality of popular crypto-assets like Bitcoin may undergo little change, the same can't be said for stablecoins.

News

Bringing transactions related to crypto-assets within the tax net could make matters less fuzzy.

News

Loopholes in FEMA and the decentralised nature of crypto-assets point to a need for effective regulations.

News

The need of the hour is for lawmakers to understand the systems that are amplifying harmful content.

News

For drone delivery to become a reality, a permissive regulatory regime is a prerequisite.

You May Also Like

News

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...

Advert

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...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

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...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ