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ShopClues: From Unicorn to Acquisition ShopClues, an Indian e-commerce platform founded in July 2011 by Sanjay Sethi, Sandeep Aggarwal, and Radhika Aggarwal, experienced a dramatic trajectory. Initially attracting significant investment, the company reached a valuation of US$1.1 billion in 2015, backed by prominent investors including Tiger Global, Helion Ventures, and Nexus Venture Partners. This period positioned ShopClues as a prominent player in the burgeoning Indian online marketplace. However, the company's fortunes shifted considerably. By 2019, ShopClues was acquired by Singapore-based Qoo10 in an all-stock deal valued at approximately US$70 million. This acquisition marked a significant downturn, representing one of the largest valuation collapses for an Indian startup. The reasons behind this sharp decline remain a subject of analysis within the Indian startup ecosystem, highlighting the inherent risks and challenges of rapid growth in a competitive market. The case of ShopClues serves as a cautionary tale in the narrative of India's digital economy.

Image Source : Wikipedia

Industry Internet
Founded July 2011
Headquarters Gurgaon, Haryana, India
Services Online shopping
Revenue ₹209.46 crore (US$24 million) (2019)

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ShopClues history

Last Updated : 08/03/25, 04:08 PM

ShopClues: A Trajectory of Growth and Acquisition ShopClues, an online marketplace offering a diverse range of products across home and kitchen, fashion, electronics, and daily essentials, charted a significant course from its inception. The company’s strategic investments and acquisitions underscore its ambition. In 2015, ShopClues launched Capital Wings, a financing platform aimed at supporting its merchant base. Further demonstrating a commitment to innovation, ShopClues invested in HeyBiz, a real-time shopping assistant app, later that year. A pivotal moment arrived in January 2016 with a US$100 million funding round from Tiger Global Management, propelling ShopClues into the coveted Unicorn Club. This financial boost fuelled further expansion, including the launch of dedicated Android and iOS apps for sellers, simplifying their e-commerce operations. Strategic partnerships followed, notably with GoDaddy, empowering small and medium-sized entrepreneurs to establish their online presence. The launch of AdZone, an advertising platform, further enhanced the marketplace’s ecosystem, allowing sellers to effectively promote their products. By June 2016, ShopClues boasted a substantial seller network of half a million. The acquisition of Momoe, a mobile payments company, in July 2016, broadened its capabilities. Ultimately, ShopClues’ journey culminated in its 2019 acquisition by Singapore-based Qoo10 for US$70 million.