• About
  • Contact
Tuesday, April 13, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home New posts

Shopclues pursuing an eleventh hour buyout from Snapdeal to stay afloat

Sourav by Sourav
July 2, 2019
in New posts, Startup
2 min read
0
Shopclues pursuing an eleventh hour buyout from Snapdeal to stay afloat
Share on FacebookShare on Twitter

In a world where every e-commerce platform is turning tables on a regular basis, here comes another interesting story doing the rounds. Shopclues is looking towards Snapdeal to help them out with a share swap arrangement, with the existing shareholders only having a small share from then on. Snapdeal, just a year and a half ago, was on the verge of selling their own stakes to Flipkart but now has come a long way in reaching a position to acquire other companies.

Shopclues has seen a rapid decline in its number of orders placed per day, now at an all-time low of just 30,000/day. The major funders of Shopclues like Nexus, Tiger Global, GIC and Unilazer Ventures have run out of patience and no longer see potential in continuing with the funding. However, it is important to note that Shopclues did try for a similar truce a year ago but Snapdeal was busy with its own operations and bringing themselves back in the business. Snapdeal declined the offer then but it will be interesting to see how they respond this time, given that they are doing quite well now.

image source: hindi.indiatvnews.com

We should not forget that Snapdeal itself was on the brink of no longer being an independent entity, as Flipkart was about to buy them. Look how the tables have turned with Flipkart ending up selling the majority of its stakes to Walmart in the year gone by. Snapdeal’s comeback from the ashes to become the only e-commerce platform in India to be cash positive is just commendable. The company managed to increase the number of orders to 2,00,000 orders/day in the same period. Furthermore, it managed to reduce their spending by 90%, leading to more revenue generated than the expenditure.

Experts believe that Shopclues lost their market share and the users when they decided to promote the unbranded products on their platform. This benefited Snapdeal immensely when they were going through a rough patch themselves. It is fascinating to see how Shopclues’s one bad move helped Snapdeal and now Snapdeal is on the verge of buying Shopclues. In the last 20 months, Snapdeal has managed to stay low and increase its growing steadily to reach the Number 3 spot in the e-commerce market in India. Snapdeal buying Shopclues would be a huge move on their part and one of the best comeback stories in the recent past in the e-commerce world. In addition, it can also affect the dynamics of the e-commerce market in India as well.

Previous Post

$60 Million investment by Steadview puts Dream 11 in the Unicorn League

Next Post

Bhavish Aggarwal turns down $1.1 Billion funding deal from SoftBank

Sourav

Sourav

Excellent story-teller, with a background in SEO and Digital Marketing. Likes to write and give form to opinion and incidents.

Related Posts

Urban Company is All Set to Join Unicorn Club with Latest Funding-raise
News

Urban Company is All Set to Join Unicorn Club with Latest Funding-raise

April 12, 2021
Nykaa Acquires Jewellery Brand Pipa Bella
Industries

Nykaa Acquires Jewellery Brand Pipa Bella

April 12, 2021
Byju’s has Raised $1 Billion from B Capital, Baron, and XN: Reports
Internet

Byju’s has Raised $1 Billion from B Capital, Baron, and XN: Reports

April 11, 2021
Top 5 Made in India Short Video Apps Winning the Game in India
Case Study

Top 5 Made in India Short Video Apps Winning the Game in India

April 10, 2021
Gupshup Raises $100 Million, Joins Unicorn Club
Media

Gupshup Raises $100 Million, Joins Unicorn Club

April 8, 2021
Twitter Had Discussions to Acquire Clubhouse
Internet

Twitter Had Discussions to Acquire Clubhouse

April 8, 2021
Next Post
Bhavish Aggarwal turns down $1.1 Billion funding deal from SoftBank

Bhavish Aggarwal turns down $1.1 Billion funding deal from SoftBank

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

YES Bank Banking- Next Big Brand

YES Bank Is All Set To Resume All Banking Services From March 18

1 year ago
Online Travel Bookings- Next Big Brand

Online Travel Bookings Take A Dip Of 30% Due To Corona Virus- Razorpay

1 year ago
Panchayat Wins Filmfare OTT Award For Best Comedy Series Award

Panchayat Wins Filmfare OTT Award For Best Comedy Series Award

4 months ago
Oppo Vivo Sales- Next Big Brand

Oppo & Vivo Combined Sales Rose by 67% To ₹ 38,726 crore

1 year ago

FOLLOW US

  • 33.5k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Urban Company is All Set to Join Unicorn Club with Latest Funding-raise
  • Nykaa Acquires Jewellery Brand Pipa Bella
  • Byju’s has Raised $1 Billion from B Capital, Baron, and XN: Reports

Instagram

Follow Me!

Latest News

Urban Company is All Set to Join Unicorn Club with Latest Funding-raise

Urban Company is All Set to Join Unicorn Club with Latest Funding-raise

April 12, 2021
Nykaa Acquires Jewellery Brand Pipa Bella

Nykaa Acquires Jewellery Brand Pipa Bella

April 12, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.