Gurgaon headquartered e-commerce company ShopClues on Wednesday said that it will continue to provide “best in class” service to customers and other stakeholders.
Shopclues’ co-founder & CEO Sandeep Aggarwal was arrested by the FBI on July 30 for allegedly tipping off a hedge fund manager who pleaded guilty of insider trading earlier. Aggarwal was subsequently released on a $500,000 bond.
“The charges contained in the complaint are merely accusations, and the defendant is presumed innocent unless and until proven guilty,” the company said in a statement which added that the case relates to events that occurred before ShopClues was founded and that it doesn’t involve the company.
Sanjay Sethi, who is a co-founder at the company said:
ShopClues continues to register robust growth and the company is processing close to 10,000 orders daily or approx run-rate of 3.5 million order per annum. The number of products sold at ShopClues increased to 1.8 Million SKUs with total listed Merchandize value of more than Rs. 4500 Cr.
Shopclues had raised $10 mn from Helion Venture Partners, Nexus Ventures and Netprice.com Chief Executive Officer Teruhide Sato in March this year and has close to 350 employees in India.