Shopclues

At least 5 Indian startups have pared down their team size in a big way this year

In July 2019, ecommerce platform ShopClues laid off close to 200 employees

Logistics soonicorn Rivigo has let go of nearly 100 employees this year

ShopClues has laid off 150-200 employees in the past week

The company’s new investment round was one of the reasons for the layoffs

ShopClues might enter into a merger to get more revenues

Rivigo has reportedly laid off nearly 70-100 employees

ShopClues has laid off around 150-200 of its employees across departments

BharatPe has appointed new product leaders

The company is said to have laid off 150-200 employees

A ShopClues spokesperson said most of the layoffs were from the operations team

Other reports speculate that the company may be shutting down

ShopClues investors may get one Snapdeal share for every nine shares

The plan is to get at least a 30% stake in Snapdeal as part of the transaction

Shopclues founders may make an exit as a part of this deal

The Delhi High Court’s stay order was passed on April 4, 2019

Court’s earlier order had revoked ShopClues intermediary status

SkullCandy and L’Oreal have alleged ShopClues of selling counterfeit products

The group is said to represent a focussed voice on the ecommerce sector

We oppose the idea of ‘lobby’ groups, says CAIT

Snapdeal and ShopClues are said to be in the group

According to USISPF, the rules may create unpredictability

May impact the growth of Indian online retail space

Amendments were introduced without consultation

The class of 2019 can expect huge job opportunities from ecommerce and startup

The hiring will happen across various sectors including operations, human resources, marketing, sales among others

This hiring boom may record the annual pay going up to over $41.2K

The company’s revenues increased to $25.81 Mn

The total expenses for the year fell 9.89% for FY18

Sale of services contributed 81.2% of its operational revenue for the year

Those who do not comply with the rules, may be charged with contempt of court

The offenders may have to face even monetary penalties

Several online retailers have already stopped taking orders online

eBay has reportedly held talks for a merger with some ecommerce players, including ShopClues

eBay had earlier said that it is looking at a relaunch in India

eBay.in operations to shut down on August 14, 2018