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Wednesday , 17 October 2018
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ShopClues – Company Profile

ShopClues was founded in July 2011 and the mastermind powering the venture was Sandeep Aggarwal, one of the co-founders of the company. The other co-founders of ShopClues are Sanjay Sethi, CEO of ShopClues and Radhika Aggarwal, Chief Business Officer (CBO). ShopClues is headquartered in Gurugram and is an Indian subsidiary of US-based Clues Network Inc. ShopClues was founded with the goal of providing the best bargains to people of India. It is common knowledge that buyers in the country will visit multiple stores to get the best deals. This is the primary need that ShopClues fulfilled by launching the country’s first and largest fully managed marketplace.

ShopClues currently offers a wide range of products and services, spread across various categories such as mobile & tablets, computers, laptops, appliances, home & kitchen, fashion, footwear, travel & luggage, automotive, jewelry & watches, toys, baby & kids, gourmet & daily needs, sports and health, and beauty & perfumes. ShopClues is popular for delivering the cheapest deals in the market via its merchants that are now more than 5 lakh in number. ShopClues gets 100 million visits every month, has more than 8.5 million products and delivers to around 30,000 destinations in India. ShopClues is also known to source merchandise from various leading markets in the country, which has benefited both sellers and buyers. ShopClues started with just 5 employees in 2011, but now it is 1,000+ and growing.

History:

ShopClues started operations in 2011 via Facebook with a team size of 5 members. The plan was to provide the best deals to buyers, knowing quite well that people in India are always looking for the best bargains. The company launched its app and the country’s first Wholesale Marketplace (TVC) in 2014. In 2016, ShopClues came to be listed amongst the top e-commerce companies in India, as it crossed 100 million visits per month. In the same year, ShopClues increased its merchant base to more than half million.

Funding:

ShopClues has received funding worth $139 million (approx.) from various sources. Top investors include GIC, Helion Venture Partners, InnoVen Capital, LionBird, Nexus Venture Partners, and Tiger Global Management. The company is now a ‘Unicorn’, which is the title given to a company whose valuation crosses $1 billion. ShopClues is also planning to launch its Initial Public Offering (IPO) soon.

Acquisitions:

ShopClues acquired Momoe in 2016 for around $12 million. Momoe is a Bengaluru-based startup focused on mobile payments system.

Competition:

ShopClues competes with other e-commerce companies in India such as Amazon India, FlipKart, Snapdeal, etc.

About the Founders:

ShopClues was founded by Sandeep Aggarwal, Sanjay Sethi and Radhika Aggarwal. Sandeep Aggarwal had previously worked with various other companies in Silicon Valley. He had completed his MBA from Washington University in St. Louis. Sanjay Sethi is the CEO of ShopClues and an alumnus of Indian Institute of Technology (BHU) Varanasi. Radhika Aggarwal is the Chief Business Officer (CBO) and she completed her MBA from Washington University in St. Louis.

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