For many months now, Shopclues has been shopping for itself.

Sometime back, it initiated informal discussions with Paytm. Also Flipkart. The deal reached a stage where investment bankers got involved to suggest how the deal would benefit either party. And then the trail went cold. “We are not talking anymore,” says a senior Paytm official, who requested not to be named. “When we were, we were looking at the merchants who sell on Shopclues and its customers. We got to a decision that we need neither. Not at the valuation the company was asking.” According to sources, Paytm did put a price to Shopclues sometime around July-August this year.


Patanjali Pahwa

Patanjali has spent over seven years in journalism. He last worked at Business Standard as Principal Correspondent, where he wrote on startups, e-commerce companies and venture capital. He has worked at an array of institutions, which include Forbes India, Caravan and Outlook Business. He is a Mumbaikar, born and brought up. Patanjali did his BSc in IT from Mumbai University and then got his journalism degree from IIJNM in Bangalore. He is enamoured by Ernest Hemingway and Tom Waits and may try to sneak in references to them in his stories.

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