advertisement

India Gets a New Unicorn in ShopClues The team behind ShopClues

India Gets a New Unicorn in ShopClues

2016-01-12 15:36

E-commerce marketplace ShopClues join the billion-dollar valuation club with members like Flipkart and Snapdeal.

ShopClues is an online marketplace and e-commerce store. Tens of thousands of merchants in India are connected to and sell on the marketplace similarly to Ebay and Amazon.

The company was started 2011 in California and among its founders we find Ebay's former Senior Director of Products, Sanjay Sethi, who is now CEO at ShopClues.

In January last year ShopClues raised $100 million at a valuation of around $350 million.

Today ShopClues, with its headquarters in India, discloses another funding round led by Singapore's sovereign wealth fund GIC and existing investors Tiger Global and Nexus Venture Partners.

Last Round Before Profitability

The investment is not official but rumored to be close to $150 million and more importantly puts the valuation, according to ShopClues, at over $1.1 billion.

advertisement
advertisement

ShopClues now joins other Indian e-commerce companies like Snapdeal and Flipkart in the billion-dollar club.

ShopClues reports that its gross merchandise volume has grown over four times since January 2015 and that it ships more than 3.5 million items every month.

The company expects to be profitable by 2017, when it also plans an IPO, and is expecting to generate sales of $1.2 billion by March this year.

- We are confident that our capital efficiency and execution will make this our last fund-raise before we become profitable, with the eventual IPO in 2017, said Radhika Aggarwal, CMO at ShopClues.

Julius Gunnilstam

Editor-in-chief

Born computer engineer - today e-commerce expert and the leader of the editorial team at Ecomony. Been writing about e-commerce for six years.

advertisement
Swedish Government to Outlaw Online Alcohol

Swedish Government to Outlaw Online Alcohol

Sweden is trying to restrict the free movement of goods within the EU.

Amazon.de Launches Free Delivery for 6 New Countries

Amazon.de Launches Free Delivery for 6 New Countries

Germany is looking to be the base for the company to take on Europe as free delivery expands to the Czech Republic, Denmark, Sweden, Finland, Hungary and Slovakia.

advertisement
advertisement
Alibaba Invests $1 Billion in Lazada

Alibaba Invests $1 Billion in Lazada

Alibaba now controls Rocket Internet's Amazon-clone in Southeast Asia.

Volvo Looking to Expand In-Car Deliveries

Exclusive: Volvo Looking to Expand In-Car Deliveries

The trunk deliveries of tomorrow are already here and now they are expanding in Europe.

advertisement
advertisement

Don't miss out on our weekly newsletter

Best Buy Expands Same-Day Delivery in 11 More Markets

Best Buy Expands Same-Day Delivery in 11 More Markets

The retail chain now offers the service in 13 US metropolitan areas covering 70% of the US population.

USA

"Virtual Reality Will Be an Integrated Part of Our Lives"

The Swedish furniture-retail giant Ikea wants its customers to furnish their homes before hitting the buy button.

Big Expansion of Amazon's Free Same-Day Service

Big Expansion of Amazon's Free Same-Day Service

Amazon's free same-day delivery service for its Prime members just expanded to 11 more metro areas.

advertisement
advertisement
The Unstaffed Store Expands to New Location

Exclusive: The Unstaffed Store Expands to New Location

The world's first unstaffed store has received attention worldwide and now another Swedish village seems to be in line for the so far unique concept.

advertisement
Swedish Unstaffed Store Sees Global Recognition

Swedish Unstaffed Store Sees Global Recognition

We have talked to the founder of Sweden's first unstaffed digital convenience store about his future e-commerce plans.

advertisement
advertisement
H&M Has Launched Online Shops for Seven New Markets

H&M Has Launched Online Shops for Seven New Markets

The Swedish fashion retailer is expanding its global online reach with dedicated websites in Croatia, Estonia, Latvia, Lithuania, Slovenia, Luxembourg and Ireland.

Insight: Does Size Really Matter?

Christoph Luetke Schelhowe, VP of Customer Experience at Zalando, reiterates the importance of the customer experience in the wake of Apple's newest mobile devices.

Now Everyone Can Record 60-Second Videos on Instagram

Not a minute too soon Instagram makes it possible for all users to post up to 60 seconds of video, not just advertisers.

advertisement
advertisement
EasySize Goes API and Puts Retailers in Control of Returns

EasySize Goes API and Puts Retailers in Control of Returns

Gulnaz Khusainova, CEO of EasySize, wants to make it easier for customers to shop online and easier for e-retailers to handle customers with a history of many returns.

About Ecomony.com

We are an independent news outlet reporting the latest news from the e-commerce economy.

Contact information

info@ecomony.com

Advertising inquiries

advertising@ecomony.com

Company details

EHANDEL SE AB
Organization number 556861-7517
EU Vat no SE556861751701