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ShopClues plans to acquire several startups to accelerate expansion

  • Online shopping
    platform ShopClues.com is looking to invest close to $50 million in either
    buying stakes or acquiring eight start-ups to accelerate expansion in the
    country’s booming e-commerce market, the
    Mint
    reported.
  •  
  • ShopClues will look
    • Online shopping
      platform ShopClues.com is looking to invest close to $50 million in either
      buying stakes or acquiring eight start-ups to accelerate expansion in the
      country’s booming e-commerce market, the
      Mint
      reported.
    •  
    • ShopClues will look
      to clinch deals in the hyperlocal, ad-tech and Internet payment domains over
      the next three-four months, a top company executive told the newspaper.
    •  
    • The company, which is
      in the market to raise fresh funds, has kept aside close to $20-$25 million in
      cash for the investments. The acquisitions will be largely stock-driven or
      acqui-hires—deals done primarily to access expertise of the acquired firm’s employees.
    •  
    • “Given the crunch in
      capital markets, ShopClues is seeing a lot of start-ups up for sale at
      reasonable valuations. Until two months ago, start-ups were quoting
      unreasonable numbers; however, the market seems more realistic now,” said
      Sanjay Sethi, Co-founder and Chief Executive Officer of ShopClues.
    •  
    • According to Sethi,
      the company is expected to raise its next funding round within the current
      financial year. Though he did not comment on the size of the fund raising, it
      is expected to be in the range of $100-$150 million, people familiar with the
      development told the
      Mint.
    •  
    • ShopClues received
      $100 million in a funding round led by Tiger Global Management in January this
      year.

     

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