Update On :24 October 2015
To create a full technology stack covering logistics, payments and analytics, ShopClues is in discussion about strategic investments. The four-year old company backed by Tiger Global is also likely to acquihire merchant-enablement services as a part of its strategy to on-board close to 60,000 sellers over the next two months a key metric which will determine its next round of funding.
Radhika Aggarwal, CBO of ShopClues said without directly commenting on the strategy, "We will look at initiatives to increase merchant loyalty and stickiness to the platform and services to increase digital engagement with SMEs (small and medium enterprises) we work.â€
The company has 2.5-lakh registered merchants on its online marketplace at present, which is more than the number garnered by its competitors. As part of its aggressive strategy to sign on new sellers, the marketplace also launched the 'Next Big E-preneur' business plan competition earlier this week to promote innovation by sellers on its platform.
CEO of ShopClues, Sanjay Sethi said that the idea was to fund innovation by merchants, such as in hyperlocal delivery, new category creation and innovation in payments which was shared with us during routine meetings with sellers. A corpus of Rs 1 crore has been set aside under the merchant advocacy initiative to fund up to five business ideas over the next two months.
The increased focus on seller-side ecosystem has seen multiple initiatives from leading etailers including tie-ups with financing bodies to provide working capital to the merchants. While Flipkart launched its F1 Stop initiative to create a partner network for sellers to avail themselves of services, new entrant Paytm launched its Go Big platform for merchants.
News Source From : http://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/shopclues-to-fund-select-innovations-by-merchants-on-its-platform/49489586