#HTE
Qoo10, a Singapore-based e-commerce firm has acquired India’s online marketplace ShopClues in an all-stock deal, the two companies said Thursday. The deal, which per a person familiar with the matter valued ShopClues at $100 million, ends years-long struggle at once thriving Indian firm to find a new home. The new deal will see ShopClues merged with eBay-backed Qoo10.
The announcement today comes months after ShopClues was in talks with Indian online retailer Snapdeal for a sale. At the time, ShopClues, which was worth $1.1 billion, was valued at about $200 million.
More to follow…
https://techcrunch.com/2019/10/31/qoo10-shopclues/