ShopClues: Covid induced e-com craze gave boost to omni-channel retail
05 April 2022, Mumbai:
The e-commerce craze witnessed during the pandemic helped created a new balance between sales channels and boosted omni-channel retail amongst brands, said Radhika Ghai, Co-Founder, ShopClues and Founder CEO, Kindlife.in at the recent TiEcon Delhi-NCR Unstoppable India virtual event.
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Founded in 2011, ShopClues has become one of the earliest unicorns in India. It targets Tier-II, III cities.
The company is currently witnessing the rise of new generation brands like Mom & Co.
It aims to transition from fragmented retail to the horizontal space to the vertical space and now to brands and highly curated platforms, added Ghai.
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ShopClues is an Indian online marketplace, owned by Clues Network The company was established in July 2011 by Sanjay Sethi, Sandeep Aggarwal, and Radhika Aggarwal.
In 2015, ShopClues was valued at $1.1 billion, with Tiger Global, Helion Ventures, and Nexus Venture Partners as major investors.
In 2019, the company was acquired by Singapore-based Qoo10 in an all-stock deal valued at approximately $70 million, representing one of the largest valuation meltdowns for an Indian-based startup.
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