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ShopClues

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ShopClues.com
File:Logo of ShopClues.com, shopclues logo.png
Type of site
Online shopping
Available inEnglish
FoundedJuly 2011 (July 2011)
HeadquartersCalifornia, USA
Area servedIndia
Founder(s)
  • Sandeep Aggarwal
  • Sanjay Sethi
CEOSanjay Sethi[1]
IndustryInternet, Online retail
ServicesElectronic commerce
URLShopclues.com
LaunchedJuly 2011; 13 years ago (July 2011)
Current statusOnline

ShopClues.com is an online retail website, headquartered in Gurgaon, India. The company was founded in the Silicon Valley, USA in the year 2011 by an alumnus of Washington University and renowned Wall Street internet analyst Sandeep Aggarwal[3] and eBay’s former Global Product Head, Sanjay Sethi.[4]

ShopClues was the first e-commerce website in India[5] that operated on the ‘managed marketplace[6]’’ model. Over 12,000 registered merchants[7] retail +2,00,000 products[8] on the ShopClues platform to over 42 million visitors[9] every year across 9500 locations[10] in the country.

As per the citation, ShopClues joined as 35th entrant in the Indian e-commerce in 2011[11] and is reported to have made its way to the list of the top 6 e-commerce destinations in the country. The company employees over 350 people[12] across locations.

History

ShopClues is the Indian subsidiary of Clues Network Inc.,[13] a US Corporation and commenced operations in November 2011 as pioneers of the ‘managed marketplace’ concept, wherein the company does not buy or store inventory for retail, and instead offers a platform for buyers and sellers to interact in a managed environment.

ShopClues is known to be popular among shoppers in the 18–24 years age group who regularly shop from the wide assortment of items including mobile phones, laptops, tablets, electronics,[14] home décor, footwear, apparel, fashion accessories, books & music, etc. New product categories like Pet Supplies and Gourmet Food are also gaining popularity.

ShopClues offers multiple payment methods like credit card, debit card, net banking and Cash on Delivery. ShopClues runs several popular customer-engagement programs including Jaw Dropping Deals,[15] Sunday Flea Market,[5] surprising deals like Black Friday, 12-12-12 Deals [16] and ShopClues’ Anniversary Special.

Funding

In March 2013, ShopClues successfully completed its third round of funding.[17] In a tough market, the company raised close to $10 million (Rs. 54 crores) from Helion Venture Partners[18] and Nexus Venture Partners. Nexus Venture Partners[19] 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.

Shop Clues Website

Shop clues's website is developed using PHP. Its Alexa Rank is under 1000 and page rank is 6. In former days Indian ecommerce development company Auriga It’s development team worked closely with SchoClues team for the development of the online ecommerce market place.[20]

Business Model

ShopClues works on a zero-inventory marketplace[6] model where sellers can display their product catalogues. Besides helping merchants reach out to a larger customer base, ShopClues also claims to increase their (merchants) business by providing a number of business management tools and marketing and decision-enabling analytics.

The company claims to evaluate merchants carefully before they set up shop on the platform. These merchants typically are successful retailers, manufacturers, brand owners or authorized dealers who have earned credibility and customer loyalty in the offline environment.

Business Results

Shopclues handles about 18 lakh transactions[21] 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[21] and also expects the total visitors to the website to cross 10 crores.

Locations

The company maintains 3 offices in India:

  • Gurgaon, Haryana (Headquarters)
  • New Delhi, Delhi
  • Mumbai, Maharashtra

ShopClues delivers to over 9500 cities[22] in association with leading courier partners. ShopClues fulfilment operations are managed by 3 Fulfilment Centres in New Delhi and Mumbai.

Awards & Achievements

  • Best E-Commerce Site of the Year’ at Social Media Summit & Awards (2013), by Global Youth Marketing Forum[23]
  • Best e-Retailer of the Year - Value for Deals' by at 2nd National Indian e-Retail Awards 2013,[24] by Franchise India[25]

References

  1. ^ Sanjay Sethi Takes Over Sandeep Aggarwal As ShopClues CEO
  2. ^ "Shopclues.com Site Info". Alexa Internet. Retrieved 12 February 2014.
  3. ^ Nexus Partners, Helion Venture invest Rs 54 crore in ShopClues.com
  4. ^ Eretail Conference | Ecommerce Conference | Internet Retail Expo - Indian eRetail Show 2013
  5. ^ a b Threefold sales increase for ShopClues post 12.12.12
  6. ^ a b shopclues-com-rolls-out-official-brand-stores
  7. ^ ShopClues.com launches Official Brand Stores with close to 200 brands
  8. ^ Online shopping site ShopClues.com raises $10 mn form Helion Venture Partners, Nexus Venture
  9. ^ shopclues-eyes-rs-350-cr-revenue-in-2013
  10. ^ ShopClues.com raises $10 m in third round of funding
  11. ^ ShopClues.com, the new kid on the block
  12. ^ Online shopping site ShopClues.com raises $10 mn form Helion Venture Partners, Nexus Venture
  13. ^ Company Overview of Clues Network (P) Limited
  14. ^ Festive boom perks up online sales
  15. ^ Gurgaon Based ShopClues Launches An Online Sunday Flea Market!
  16. ^ ShopClues raises third round of funding from Nexus Venture Partners and Helion Advisors
  17. ^ Indian e-commerce marketplace ShopClues gets a $10 million injection
  18. ^ ShopClues Bags Rs. 54 Crores From Helion & Nexus
  19. ^ ShopClues raises $10 mn
  20. ^ ShopClues and Auriga IT
  21. ^ a b ShopClues eyes Rs 350 cr revenue in 2013
  22. ^ More tier III cities like Jhansi, Ranchi going online to shop
  23. ^ Social Media Summit & Awards & Youth Marketing Forum 2013
  24. ^ Eretail Conference | Ecommerce Conference | Internet Retail Expo - Indian eRetail Show 2013
  25. ^ Franchise in India, Franchise Opportunities, Business Opportunities - Franchise India
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