The effect of demonetisation on a Unicorn, which calls itself the flea market of India
Patanjali Pahwa, Ashish K. Mishra
The company clocked just north of Rs 200 crore in gross merchandise value (GMV) in October
Shopclues is an important company. It is a Unicorn; last January, it was valued at $1.1 billion
Shopclues started cross-selling. Ad solutions are offered to merchants on the website in lieu of payments
The company has started dipping deeper into its cash reserves to fund its working capital
The obvious points must first be put on the table. And while we are at it, let’s arrange them neatly and logically; the points — both claimed and inferred.
You’ve probably heard this countless times. Shopclues is different from the other e-commerce players in India, the likes of Flipkart, Amazon, and Snapdeal. That Shopclues is the flea market of the country because it sells primarily to the other India — the India which lives in Tier two, three and four cities and towns.
You’ve probably not…
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