Snapdeal is conducting due diligence on ShopClues, a move that may lead to a potential acquisition of the latter, which may bring in a fresh infusion of funds for the new entity.
After multiple attempts at selling itself, including to larger e-commerce player Snapdeal, ShopClues has found a buyer in Singapore-based e-commerce platform Qoo10 in an all-stock deal.
Shopclues, the latest unicorn, was at the bottom of the sector loss pie.
Second hand goods are catching up with customers on renown shopping websites.
The drying up of funds for a number of start-ups is affecting the firms' unicorn status across the globe. The past six months have seen the valuations of 147 unicorns drop, of which 71 were from the US and 29 from China, according to the latest Hurun Global Unicorn Index 2022. Eighty-one unicorns from across the globe saw their valuations drop below $1 billion-the threshold for a start-up to be labelled unicorn-from last year.
ShopClues does 1.5 million transactions a month and claims to have 40 million monthly visitors.
The Central Consumer Protection Authority (CCPA) has issued notices to five e-commerce entities, including Amazon, Flipkart and PaytmMall, as well as various sellers for offering pressure cookers that are non-compliant with BIS norms. The notices were issued on November 18 to Flipkart, Amazon, Snapdeal, Shopclues and PaytmMall, and the sellers. As part of celebrations of 75 years of Independence - 'Azadi ka Amrit Mahotsav', CCPA has initiated a country-wide campaign to prevent sale of spurious and counterfeit goods that violate Quality Control Orders published by the Centre, the government said in a statement on Monday.
The Central Consumer Protection Authority (CCPA) has imposed a penalty of Rs 1 lakh on e-commerce major Amazon for selling pressure cookers that did not meet quality standards. The CCPA also directed Amazon to notify the consumers of all these 2,265 pressure cookers sold through its platform, recall the products and reimburse the prices to buyers, the Department of Consumer Affairs said in a statement.
Of all the tremors to rock the start-up world of late -- Snapdeal's layoffs, Stayzilla's shutting down, Flipkart's frequent devaluations -- nothing will match the rumble at ShopClues for poignancy.
The founding members of The E-Commerce Council of India include Snapdeal, ShopClues, UrbanClap, Shop101, Flyrobe and Fynd, among others.
The turmoil, if you read the headlines, is about the so-called funding winter. Deep down, though, the question is one of the common direction in which founders and investors need to pull, points out Suveen Sinha.
It's important to learn from failure, and just show up the next day, and the next, till you've got it right, says Radhika Ghai, co-founder, ShopClues
Diane Wang's DHgate makes inroads into India's e-commerce ahead of Jack Ma's Alibaba.
Suveen Sinha finds out what the tribe of modern, internet entrepreneurs who no longer run their first start-ups are up to.
The FDA Maharashtra on Friday lodged an FIR against Snapdeal.
Prominent e-commerce marketplace players include Amazon.in, Flipkart, Snapdeal, Paytm, Shopclues and Jabong
Paytm plans to induct 5,000 manufacturers and sellers; has started programmes to identify and train new sellers.
Seamlessly integrating multiple devices is becoming the single most important strategy for retailers, says Ritwik Sharma.
CashKaro.com works with online retailers like Amazon.in, Paytm, Jabong and ShopClues
USISPF slammed government's move and alleged that the amendments announced were without any consultation and are akin to changing rules in the middle of the game.
Assocham estimates offices are facing staff crunches of 15 to 25 per cent with the various strains of fever.
Relations between founders and investors in the start-up universe - remains as tricky as ever.
By value, however, electronic goods still account for a large portion of gross merchandise
Venture capital investments in India's start-ups nearly halved to $1.5 billion in fourth-quarter 2015
Venture capitalists and private equity players have slowed investments in Indian start-ups.
Snapdeal chief executive officer Kunal Bahl said Piramal's investment was a significant endorsement for the firm and the transformation the company has undergone over the last couple of years.
The top five most trusted brands are Samsung Mobiles, Sony, LG, Nokia and Tata.
Online shopping is the new buzzword amongst masses.
The Walmart chief stated that the values of the two companies were "very much aligned"
The investor has now put together a fund of $3.75 billion to back private companies.
According to industry studies, the Hindi Internet user base is likely to outgrow the English user base by 2021 and along with Marathi and Bengali users, will drive volume growth.
In about a year, top e-commerce companies are expected to raise as much funds as the three sector leaders raised in about five years.
Ma is also exploring strategic play in one of the largest media houses in India.
This issue assumes greater importance if you are a managed marketplace in the hypercompetitive online world.
Prime Minister Narendra Modi had announced the policy last month.
Flipkart has long been under the ED scanner for alleged violation of FDI rules.
Paytm has been preparing for the sale for the past three months.
Amazon.in has announced the launch of first-of its-kind women-only outlets for delivering products.
Govt assurances fail to cut ice with Jat leaders as agitation intensifies, Maruti halts production at two plants; highways, railway lines blocked
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