ShopClues has announced its merger with Qoo10 Pte Ltd. in a stock deal. The merger has been approved by the board of directors and major shareholders of both companies.
This partnership presents new strategic opportunities for both companies, as it opens up cross-border opportunities for consumers and sellers across Asia.
Qoo10 is a leading eCommerce platform in South East Asia which services small and medium enterprises (SMEs) via its localised online marketplaces in Singapore, Indonesia, Malaysia, China, Hong Kong, etc., and plans to expand into other Asian countries.
ShopClues has built a differentiated position as a value-for-money marketplace with a thriving eco-system of small merchants. More than 700,000 small and micro-merchants from ShopClues will be able to access to global markets via Qoo10â€™s presence in South East Asia. Similarly, Qoo10â€™s merchants and its cross-border logistics business will get access to the large Indian market with their high quality, value-for-money products.
Founded in 2011 and headquartered in Gurugram, ShopClues is a e-commerce destination for buyers and sellers in tier II, III and IV cities and beyond. With over 60 million lifetime unique customers and 7,00,000+ merchants, ShopClues has taken local brands to a national platform servicing more than 31,500 pin codes across India.
Qoo10 was established in June 2010. It has more than 3 million registered users. Headquartered in Singapore, Qoo10 has since expanded to Indonesia, Malaysia, China, and Hong Kong. Qoo10â€™s mission is to establish a free and open e-commerce platform, where businesses of all sizes can sell their goods online, and customers from any country can purchase them.