ShopClues plans Nasdaq listing next year, eyes $2 billion in sales due to demonetisation
Advertisement
Advertisement
"With last investment round in January, ShopClues is valued at around Rs 7,100 crore. We were earlier expecting gross merchandise volume of USD 2.3-2.5 billion in 2017 but due to
On plans to go for public listing, Sethi said, "We expect to file our documents with Nasdaq for listing by September 2017 but the
He further said the customer traffic on its platform has fallen 30 per cent after the scrapping of old Rs 500 and Rs 1,000 notes by the government on November 8.
"We were expecting the demonetisation impact to have gone by now. Business traffic is almost back to normal. There is still 5 per cent depression in traffic compared to one we see during this period," Sethi added.
Advertisement
"If merchants are on ShopClues platform, this means they are already on e-platform. We can help people in organised business to grow but can't help those who are in undocumented economy. 'Reach' will help merchants who are looking for growth by enabling them go for hassle-free cashless transaction in three steps," Sethi said.
Using this platform, merchants will feed the transaction amount and mobile number of the customer. After this, the customer will receive an SMS with a link of payment where he can pay using net banking or mobile wallet.
ShopClues has over 5 lakh sellers on its platform and ships products in over 30,000 pin codes across India.
Advertisement
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- A millennial manager went viral after her Gen Z assistant picked up a work call while at the hair salon: 'Go off queen'
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Kia India looks to expand sales, service network to 700 touchpoints by year-end
- Shapoorji Pallonji’s Afcons Infra files DRHP for ₹7,000 crore IPO
- Water crisis affects businesses across Bengaluru; Is there room for cautious optimism?
- BenQ Zowie EC2-CW review – Premium wireless mouse for gamers
- Banks' GNPAs set to improve further to 2.1 pc by FY25: Care Ratings