Shopclues wants to achieve its billion dollar dream, eyes raising Rs 1320 crore through funding, IPO
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In a bid to beat its competitors or at least be equal to them, online marketplace Shopclues is reportedly looking to raise $150-200 million (Rs 990-1,320 crore) at a valuation of $650-700 million.
Shopclues , which is behind Flipkart, Snapdeal and Paytm, is also mulling to foray into IPO.
In January this year, Shopclues had raised $100 million from New York-based hedge fund Tiger Global Management that valued it at $350 million.
As per reports, Tiger Global Management is expected to re-invest in Shopclues.
The four-year-old company, Shopclues, may have little difficulty in raising expected funds as in the current scenario, the investors have become more focussed on business models.
Chief Business Officer at Shopclues, Radhika Aggarwal, said what differentiates Shopclues from others is margins, sellers and unstructured categories.
According to Aggarwal, Shopclues aims to end fiscal 2015-16 with $1.2 billion in annual Gross Merchandise Value (GMV).
"We ship almost one-third the orders of Flipkart and half the orders ofSnapdeal and our entire employee strength is about 850.
GMV/revenue/number of orders created per employee is significantly higher than the competition,” she told ET.
On IPO dreams, director on the board of Shopclues, Sanjeev Aggarwal, said, “We feel we could be the first ecommerce company to go public.”
However, the company has not submitted documents for an IPO with the SEBI.
Silicon Valley in 2011 and started India operations after seven months from Gurgaon.
(Image: Thinkstock)
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In January this year, Shopclues had raised $100 million from New York-based hedge fund Tiger Global Management that valued it at $350 million.
As per reports, Tiger Global Management is expected to re-invest in Shopclues.
The four-year-old company, Shopclues, may have little difficulty in raising expected funds as in the current scenario, the investors have become more focussed on business models.
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According to Aggarwal, Shopclues aims to end fiscal 2015-16 with $1.2 billion in annual Gross Merchandise Value (GMV).
"We ship almost one-third the orders of Flipkart and half the orders of
GMV/revenue/number of orders created per employee is significantly higher than the competition,” she told ET.
On IPO dreams, director on the board of Shopclues, Sanjeev Aggarwal, said, “We feel we could be the first ecommerce company to go public.”
However, the company has not submitted documents for an IPO with the SEBI.
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Shopclues was founded in (Image: Thinkstock)
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