MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

Singapore based e-commerce company Qoo10 acquires ShopClues

Singapore based e-commerce company Qoo10 acquires ShopClues

One of India’s most favorite online marketplace ShopClues is being acquired by a Singapore-based e-commerce firm/platform Qoo10 in an all-stock market deal. With this deal, a prolonged hunt by the Indian e-retailer for a buyer came to an end.

The transaction amount ranges approximately $70-100 million, according to the recent resources and from the developmental sources. It is said to be the largest valuation meltdown for a company or a venture-backed Indian Startup, given that when ShopClues was at its peak best the company validation was said to be $1.1 billion in the year 2015.

“This partnership presents new strategic opportunities for both companies, as it opens up cross-border opportunities for consumers and sellers across Asia,” stated the company in a recent press conferenceand the firm also added that the deal has been approved by the board of directors and major shareholders of both companies.

ShopClues which was founded in 2011 by Sandeep Aggarwal, has had a tumultuous leadership history. It was once known for keeping its expenses low in the field of the e-retail platform when compared to other firms, however, continued to lose market as well as share value with the likes of Flipkart, Amazon, and Snapdeal, post its pivot in 2017 was seriously looking to capture the customers beyond the top cities.

YOU MAY ALSO LIKE

Marketing Partnership: NBA, McDonald’s Will Jointly open NBA Experience Zones India

There is good news for all basketball fans in India. Very soon, NBA themed promotions and experience zones will be launched in India. The announcement...

Dunzo to Raise Funds from Google, others

Dunzo, the app which is trying to make life easier for the people upto some extent plans to raise about Rs. 183 crore from different investors which a...

Sapta Shakti Command Will Be Displaying Defence Technology Equipment at Jaipur Military Station

This event is organised with an aim to provide an opportunity where one and all can experience the developments in the field of defence and security-r...

Samsung is All Set to Roll out Its Galaxy A9 Smartphone On November 20

After Samsung unveiled its new Galaxy A9 smartphone in Singapore last month, the company is all set to launch it in India on November 20. In Singapore...

RECOMMENDED