Ecommerce retailer ShopClues has signed a Memorandum of Understanding (MoU) with National Minorities Development and Finance Corporation (NMDFC), Delhi to market products made by artisans and craftspeople belonging to minorities, assisted by the NMDFC. ShopClues will offer upgrades by means of the quality of products, marketing skills and training and will help them upgrade their catalogs periodically. The training will be provided to vendors through phone or Skype and will include topics like merchandising, quality management, packaging, soft skills and shipping. It will add a new page called ‘e-karobar’ on its portal. NMDFC works towards providing concessional finance to minorities for self employment or income generating activities. ShopClues claims to have over 100 million monthly visitors on its site, 3.5 crore listed products and 400,000 merchants. It ships to over 29,000 pin codes in the country and was founded by Sanjay Sethi and Radhika Aggarwal. Funding & IPO: In January, ShopClues raised an undisclosed amount of funding to focus on building and rolling out new products to enable SME merchants to digitize their business. YourStory pegged the deal at $100 million. At that time, Aggarwal said that the company is looking to hit the markets with an IPO in 2017. In January 2015, the company raised $100 million. ShopClues made multiple hires in the last year: - In October 2015, it appointed former PayU India’s director of engineering Gyanesh Sharma as AVP of engineering. - In September, it appointed Arun Goel as its Vice President for products, to focus on…
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