Growing E-Commerce Destination ‘ShopClues.com’
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 and eBay’s former Global Product Head, Sanjay Sethi.
Online review company MouthShut.com has several negative reviews about Shopclues, where customers have rated it as a poor website with overall score of only 2 stars out of 5.
In March 2013, ShopClues successfully completed its third round of funding. In a tough market, the company raised close to $10 million (Rs. 54 crores) from Helion Venture Partners and Nexus Venture Partners. Nexus Venture Partners 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.
ShopClues was the first e-commerce website in India that operated on the managed marketplace’’ model. Over 12,000 registered merchants retail +2,00,000 products on the ShopClues platform to over 42 million visitors every year across 9500 locations in the country.
As per the citation, ShopClues joined as 35th entrant in the Indian e-commerce in 2011and 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 across locations.
ShopClues works on a zero-inventory marketplace 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 environmen
Awards & Achievements
- Best E-Commerce Site of the Year’ at Social Media Summit & Awards (2013), by Global Youth Marketing Forum
- Best e-Retailer of the Year – Value for Deals’ by at 2nd National Indian e-Retail Awards 2013, by Franchise India