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.