Sanjay Seth Shares insights on what differentiated Shopclues from the other last entrants in the e-commerce space!
With this deal, ShopClues’ valuation stands at more than $1.1 billion. Existing investors, including Tiger Global and Nexus Venture Partners have also participated in this round of funding. The capital raised will be used to roll out new products to enable the SME merchants to digitize their business.
The investment will be directed towards enhancing the product and expansion. The company plans to expand in Chandigarh, Amritsar, Ludhiana, Lucknow and Jaipur. Founded by Bhartesh Chhibbar in January 2015, HeyBiz helps users discover local shops and is available on Android and iOS devices.
Shopclues’ chat feature will connect buyers directly with sellers for added information on product, price and availability. The buyers can also negotiate delivery timelines, ask for returns etc. Buyers receive push notifications on their Android devices when a seller responds to their query.