wordpress blog stats
Connect with us

Hi, what are you looking for?

ShopClues secures $100M from Tiger Global, Helion & Nexus VP

E-commerce marketplace ShopClues has raised $100 million investment led by Tiger Global with participation from existing investors Helion Venture Partners and Nexus Venture Partners, reports The Economic Times. ShopClues co-founder and chief marketing officer Radhika Aggarwal has told the publication that they intend to use this investment to strengthen their technology and marketing.

ShopClues

With this investment, ShopClues has raised an overall $115 million investment until now. This includes the $10 million investment from Helion Venture Partners, Nexus Partners and Netprice.com CEO Teruhide Sato in March 2013 and $4 million Series A funding in September 2012.

Interestingly, its worth noting that Tiger Global is also one of the largest investors in another e-commerce marketplace Flipkart, having participated in every single investment round since it first invested in the e-commerce major in 2010.

ShopClues Wholesale: While ShopClues essentially competes with Flipkart in the country, its approach is slightly different. The company had introduced a wholesale section in March last year, enabling users or small retailers to purchase products in bulk at wholesale prices. Through this, wholesale retailers got an opportunity to offer their products for bulk online purchase without worrying about fulfilment and logistics, something which is currently not present in Flipkart.

The report says that ShopClues is also focusing on unbranded or lesser known products and positions itself as a marketplace for buyers and sellers in smaller cities. However, other e-commerce players have also started focusing on this segment, after witnessing a significant increase in sales over the past year or so.

Advertisement. Scroll to continue reading.

Mobile-focused e-commerce marketplace Paytm which focuses on the long tail merchants, is also reportedly raising $575 million from China’s Alibaba. A The Wall Street Journal report had also suggested that post this investment, Indians will be able to shop on Alibaba’s sites and make payments through Paytm, while Chinese customers will be able to buy from Paytm’s merchants by using Alipay.

Also read#Outlook15: What Indian E-Commerce Marketplaces Plan To Do in 2015

Written By

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

Views

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like

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...

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

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...

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