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Shopclues

Shopclues

ShopClues is an online marketplace owned by Clues Network Pvt. Ltd.[2] It was established in July 2011 in Silicon Valley by Sanjay Sethi, Sandeep Aggarwal and Radhika Aggarwal.[3] Based in Gurgaon, India,[4] the company claims to have over 6 lakh merchants and 2.8 crore products on its platform, serving over 32,000 pincodes across the country.[5]

Valued at US$1.1 billion,[6] ShopClues has Tiger Global, Helion Ventures, and Nexus Venture Partners as major investors.[2] It is an e-commerce site.

Shopclues.com
Screenshot
ShopClues website screenshot.png
Type of businessPrivate
Type of site
E-commerce
Available inEnglish
FoundedJuly 2011 (July 2011)
HeadquartersGurugram, Haryana, India
Area servedIndia
Founder(s)
  • Sandeep Aggarwal
  • Radhika Aggarwal
IndustryInternet
ServicesOnline shopping
RevenueIncrease₹273 crore(US$39 million) (2018)
Websiteshopclues.com [29]
Alexa rankDecrease757 (March 2017)[1]
Current statusActive

Background

ShopClues provides unstructured categories of home and kitchen, fashion, electronics and daily utility items. [7] Around 70% of its Gross Merchandising Value (GMV) is received from Tier – II and Tier – III cities.

In June 2016, the online marketplace reached half a million sellers on its platform, claimed to be the highest in the Indian e-commerce industry.[8] The employee strength as of 2017 is more than 700 people.[9]

Key people

  • Sandeep Aggarwal - Founder

  • Sanjay Sethi - Co-Founder and Chief Executive Officer (CEO)

  • Radhika Aggarwal - Co-Founder and Chief Business Officer (CBO)

Mobile application

In 2015, the e-commerce player launched its Android app for sellers, and later added iOS apps.[10]

Growth

  • In June 2015, ShopClues launched a financing platform Capital Wings to fund its merchants’ businesses.[11]

  • In May 2016, joined hands with GoDaddy to assist its small and medium entrepreneurs in starting their own e-commerce websites.[12]

  • In July 2016, launched an ad platform, AdZone wherein sellers may market their products with the help of native and custom advertising.[13]

Acquisition

In July 2016, ShopClues collaborated with a hybrid e-commerce company, StoreKing to promote its products on the latter's app. In the same year, the company acquired Momoe, a Bangalore-based mobile payments company.[14][15]

In 2016 ShopClues acquired the IP of a SaaS platform from Squeakee Media which was founded by Abrar Shaikh in Mumbai, India.[16]

Investment

In December 2015, the company invested towards seed funding in HeyBiz, which is a real-time shopping assistant app.[17]

Funding

In January 2016, ShopClues raised US$100 million from Tiger Global Management and joined the Unicorn Club.[18]

Controversy

In August 2015, the owner of the brand Ray-Ban, Luxottica Group accused ShopClues of allegedly selling fake products and took up the issue in court. The Delhi High Court pulled up ShopClues for breaching its earlier order and continuing the sale of Ray-Ban products.[19]

Awards and Recognition

  • In 2016, received the Gold Award at APAC Effie Awards for Ghar Wapsi campaign in David vs. Goliath category.[20]

  • In 2016, won Marketing Campaign of the Year at CMO Asia Awards.

  • In 2016, received Award for Consumer Insight at CMO Asia Awards.

  • In 2016, became the bronze winner in Film 12B Retail Advertising category for Ghar Wapsi Sale – Bhains Ki Aankh campaign at Abby Awards.

  • In 2016, received an award in Search Marketing at 6th India Digital Awards function.[21]

  • In 2015, won Silver at Effie India Awards for Ghar Wapsi Campaign.[22]

  • In 2015, honored with Advertising Campaign of the Year by Indian e-retail Awards for its TVC, From Ding to Dong.[23]

  • In 2015, termed as the Coolest Start-Up in India by Business Today.[24]

  • In 2015, received Interactive – Remarketing and Retargeting at DMA Asia ECHO Awards.[25]

  • In 2013, featured in Red Herring Asia Top 100 Winners List.[26]

  • In 2013, bagged Best e-Commerce Site of the Year award by Global Youth Marketing Format Social Media Summit and Awards.

  • In 2013, received the ‘Best e-Retailer of the Year – Value for Deals’ title by Franchise India at 2ndNational Indian e-Retail Awards.[27]

See also

  • E-commerce in India

  • Online Shopping

References

[1]
Citation Linkwww.alexa.com"Shopclues.com Site Info". Alexa Internet. Retrieved 17 March 2017.
Oct 1, 2019, 4:03 AM
[2]
Citation Linkwww.livemint.com"ShopClues plans acquisition spree to accelerate expansion". Mint. 8 December 2015. Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM
[3]
Citation Linktechcircle.vccircle.com"ShopClues.com rolls out official brand stores". 3 April 2013. Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM
[4]
Citation Linkwww.crunchbase.com"Shopclues.com". Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM
[5]
Citation Linkwww.thehindubusinessline.com"ShopClues poised for a strong rural push". The Hindu Business Line. 21 July 2017. Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM
[6]
Citation Linkwww.forbesindia.com"StoreKing: The friendly, neighbourhood etailman". Forbes India. 7 July 2016. Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM
[7]
Citation Linkwww.businesstoday.in"Standing Out". Business Today (India). 21 June 2015. Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM
[8]
Citation Linkeconomictimes.indiatimes.com"ShopClues to help vendors go online with GoDaddy". The Economic Times. 16 May 2016. Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM
[9]
Citation Linkwww.business-standard.com"We've already toppled Flipkart, Snapdeal: Shopclues CEO". Business Standard. 26 January 2016. Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM
[10]
Citation Linkretail.economictimes.indiatimes.com"ShopClues brings an Android based seller app to boost its merchants business". 29 January 2016. Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM
[11]
Citation Linkwww.business-standard.com"ShopClues launches financing platform for SMBs". Business Standard. 12 June 2015. Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM
[12]
Citation Linkwww.ibtimes.co.in"ShopClues and GoDaddy tie up to offer online stores for small businesses". International Business Times. 18 May 2016. Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM
[13]
Citation Linkwww.medianama.com"ShopClues launches native ad platform AdZone". 26 July 2016. Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM
[14]
Citation Linkwww.medianama.com"Shopclues buys a payments company just like its competitors". 15 July 2016. Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM
[15]
Citation Linkwww.hindustantimes.com"With Rs 330 crore in pocket, Shopclues goes shopping". Hindustan Times. 7 April 2016. Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM
[16]
Citation Linkwww.linkedin.comhttps://www.linkedin.com/in/abrar-s-187a6512/
Oct 1, 2019, 4:03 AM
[17]
Citation Linkwww.vccircle.com"ShopClues invests in chat app HeyBiz". VCCircle. 8 December 2015. Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM
[18]
Citation Linkwww.livemint.com"ShopClues joins billion dollar club". Mint. 13 January 2016. Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM
[19]
Citation Linkarticles.economictimes.indiatimes.com"Ray-Ban drags online marketplace Shopclues to Court for selling fake eyewear". The Economic Times. 27 August 2015. Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM
[20]
Citation Linkwww.pocketnewsalert.com"ShopClues Ghar Wapsi campaign gets home a Gold from the APAC Effie Awards 2016". 25 April 2016. Retrieved 5 November 2017.
Oct 1, 2019, 4:03 AM