ShopClues: Difference between revisions
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{{Infobox dot-com company |
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| name = ShopClues |
| name = ShopClues |
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| company_type = Private |
| company_type = Private |
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Revision as of 12:41, 29 April 2016
 | This article contains promotional content. (August 2015) |
 | This article needs additional citations for verification. (April 2016) |
| Type of business | Private |
|---|---|
Type of site | Online shopping |
| Available in | English |
| Founded | July 2011 |
| Headquarters | Gurgaon, India |
| Area served | India |
| Founder(s) | |
| CEO | Sanjay Sethi[1] |
| Key people | Radhika Aggarwal(co-founder)[2] |
| Industry | Internet |
| Products | 8.5 million |
| Services | E-commerce (Online marketplace) |
| URL | www |
| Launched | July 2011 |
| Current status | Active |
ShopClues.com is an online marketplace, headquartered in Gurgaon, India. The company was founded in California's Silicon Valley in 2011.[5][6] It has over 12,000 registered merchants[7] retail 2,00,000+ products[8] on the platform to over 42 million visitors[9] every year across 9500 locations in the country.
ShopClues joined as 35th entrant in the Indian e-commerce in 2011.[10] The company employs about 700 people across different locations.[11]
History
ShopClues is the Indian subsidiary of Clues Network Inc..,[12] a US Corporation and was founded in November 2011 by an alumnus of Washington University and Wall Street internet analyst Sandeep Aggarwal[13] and eBay’s former Global Product Head, Sanjay Sethi.[14]
Funding
With Series E, ShopClues is now valued at more than $1.1 billion (Rs 7,300 crore) following undisclosed funding led by Singapore's sovereign wealth fund GIC.[15][16][17]
In March 2013, ShopClues successfully completed its third round of funding.[18] The company raised close to $10 million (Rs. 54 crores) from Helion Venture Partners[19] and Nexus Venture Partners. Nexus Venture Partners[20] had previously led the Series A investment in the company in Feb 2012. With this round, ShopClues.com has raised over $15 million in capital so far.
ShopClues has other investors like Series B investors Helion and Nexus and a Japanese Internet company. Prior to Series A, ShopClues had raised a round (in Aug. 2011) from angels including from early employees of companies like Google, Netscape and many serial entrepreneurs from Silicon Valley.[21]
ShopClues has raised $100 million (Rs 620 crore) in Series C funding led by Tiger Global besides at least two of its existing investors.This values the company at around $350 million.[22]
Business results
Shopclues handles about 1.8 million transactions[23] annually and around 42 million visitors a year. The company is already doing Rs 100 crores in annualised revenue based on its monthly run. It is targeting about 3.5 percent growth in the January numbers. The company witnessed growth of 250 percent from January 2012 to January 2013.
In January 2013, Shopclues posted a revenue of about Rs 8 crore and handled 1.52 lakh transactions compared to Rs 11 lakh in revenue and 200 transactions in January 2012. Now, the company is looking at handling about 30 lakh transactions[23] and also expects the total visitors to website to cross 10 crores . Shopclues will launch its first ever advertising campaign in September 2014 and has earmarked Rs 75 crores for it.[24]
Locations
The company is headquartered in Gurgaon, Haryana and has its registered office in Vadodara, Gujarat in India. It also has an office in Palo Alto, California.[25]
ShopClues delivers to over 9500 cities[26] in association with leading courier partners. ShopClues fulfillment operations are managed by 3 Fulfillment Centres in New Delhi and Mumbai.
Controversy
Luxottica Group, the owner of popular eyewear brand Ray-Ban, had taken legal action against an online marketplace for allegedly hosting fake products for sale. The company dragged ShopClues to court, also accusing it of misleading customers by offering heavy discounts. The Delhi High Court pulled up ShopClues for breaching its earlier direction and continuing to sell Ray-Ban branded items.[27]
Awards and achievements
- Best E-Commerce Site of the Year’ at Social Media Summit & Awards (2013), by Global Youth Marketing Forum[28]
- Best e-Retailer of the Year - Value for Deals' by at 2nd National Indian e-Retail Awards 2013,[29] by Franchise India[30]
References
- ^ Sanjay Sethi Takes Over Sandeep Aggarwal As ShopClues CEO
- ^ [1]
- ^ "Shopclues.com Site Info". Alexa Internet. Retrieved 14 January 2016.
- ^ [2]
- ^ (Press Release) Threefold sales increase for ShopClues post 12.12.12
- ^ shopclues-com-rolls-out-official-brand-stores
- ^ ShopClues.com launches Official Brand Stores with close to 200 brands
- ^ Online shopping site ShopClues.com raises $10 mn form Helion Venture Partners, Nexus Venture
- ^ shopclues-eyes-rs-350-cr-revenue-in-2013
- ^ ShopClues.com, the new kid on the block
- ^ ShopClues to double headcount to 1,500 by March 2016
- ^ Company Overview of Clues Network (P) Limited
- ^ Nexus Partners, Helion Venture invest Rs 54 crore in ShopClues.com
- ^ Eretail Conference | Ecommerce Conference | Internet Retail Expo - Indian eRetail Show 2013
- ^ E-commerce firm ShopClues valued at $1.1 billion in new funding
- ^ ShopClues raises fresh funding, enters the $1-bn valuation club
- ^ Shopclues Says Valued At $1.1 Billion After GIC Investment, Plans IPO In 2017
- ^ Indian e-commerce marketplace ShopClues gets a $10 million injection
- ^ ShopClues Bags Rs. 54 Crores From Helion & Nexus
- ^ ShopClues raises $10 mn
- ^ "ShopClues raises third round of funding; Nexus Venture Partners and Helion invest - nexus". nexus. 2013-03-15. Retrieved 2016-04-28.
- ^ E-com marketplace ShopClues raises $100M in Series C funding led by Tiger Global
- ^ a b ShopClues eyes Rs 350 cr revenue in 2013
- ^ http://articles.economictimes.indiatimes.com/2014-07-30/news/52238043_1_brand-campaign-creative-agency-shopclues-com
- ^ "About Us". shopclues. Retrieved 2016-04-28.
- ^ More tier III cities like Jhansi, Ranchi going online to shop
- ^ Ray-Ban drags online marketplace Shopclues to Court for selling fake eyewear
- ^ Social Media Summit & Awards & Youth Marketing Forum 2013
- ^ Eretail Conference | Ecommerce Conference | Internet Retail Expo - Indian eRetail Show 2013
- ^ Franchise in India, Franchise Opportunities, Business Opportunities - Franchise India
External links
- Official website Online Ecommerce Store