In October, ShopClues had announced inking an all-stock deal with Qoo10 to merge operations with the Singapore-based firm.
Qoo10 is an e-commerce platform in South East Asia that serves small and medium enterprises (SMEs) via its localised online marketplaces in Singapore, Indonesia, Malaysia, China and Hong Kong.
Amid signs of an economic slowdown in 2019, several companies laid off employees, citing several reasons.
The condition of the company has deteriorated in the last few weeks after talks for an acquisition by its larger rival Snapdeal fell flat.
Sakshi Batra chats with Moneycontrol's Priyanka Sahay to find out if more employees may face the sack in the near future.
The famed startup story is showing cracks. Once a leader in unbranded products, ShopClues is an example of how lack of foresight and complacency can affect a business
The transaction is expected to be a 100 percent purchase of Shopclues
According to sources, Snapdeal has initiated preliminary discussions with Shopclues to evaluate a potential strategic alliance.
Kunal Bahl, the plucky co-founder and CEO of Snapdeal, is back on deal street.
The position taken by these players is in contrast to that of giants like Amazon and Walmart-backed Flipkart who have sought an extension, stating that they need more time to understand the details of the framework.
The company, which is registered as Clues Network, had registered a loss (after tax) of Rs 347 crore in 2016-17.
Flipkart will be hoping that the newest vertical under its umbrella will help bolster its status as the preferred destination for smartphones, both new and refurbished.
The new label focussing on affordable western wear and accessories is targeted at women in tier II, III and IV regions, ShopClues said in a statement.
Absence of any detailed guidelines have left many companies anxious as they are still not clear about what constitutes profiteering
According to sources, this money has come from existing investors Nexus Venture Partners and Tiger Global.
ShopClues, which recently raised $10 million from existing investors, is itself holding talks with multiple e-commerce companies for a potential sale
The company had a total loss of Rs 333 crore in 2016-17, a ShopClues spokesperson told PTI.
ShopClues had launched Home Berry, its home decor exclusive label in July last year, followed by women's fashionwear brand Meia in September. It also operates Baton (men footwear) and Digimate (electronics accessories) brands.
As more Indians are expected to shift their daily shopping to the online world, stringent laws will ensure their trust in e-commerce.
Shopclues expects an exciting year ahead as it plans to launch smartphones. Cofounder Radhika Agarwal spells out the company's strategy for 2017.
Droom already offers instant price discovery for a used vehicle on its website under its valuation service called Orange Book Value
Media baron and private equity investor Ronnie Screwvala, who is holding stakes in Lenskart and ShopClues, today said both the e-commerce firms may go for Initial Public Offering (IPO) in the next two years.
Shopclues ex-CEO Sandeep Aggarwal had filed an FIR against the company’s other two co-founders Radhika Ghai and current CEO Sanjay Sethi, earlier this month.
In the next few months, Shopclues is planning to launch exclusive labels in men’s fashion, electronics and accessories.
This year’s Diwali sale is expected to offer big discounts across e-commerce platforms such as Paytm, Flipkart and Amazon.