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In the latest sign that India’s e-commerce market is surging, ShopClues announced today it had raised $100 million in a round led by Tiger Capital.
ShopClues, launched almost four years ago, provides an online platform that creates a marketplace that matches sellers and buyers. Its competitors in India include Flipkart and Snapdeal.
According to ShopClues, it now has 100,000 sellers and more than 10 million products. And it says it is growing 600 percent, year-over-year.
Tiger, based in New York, raised a $2.5 billion fund late last year that has it aggressively looking for deals like ShopClues around the world, particularly in emerging markets.
Tiger Global is a fundamentally-oriented, global investment firm. The Firm deploys capital in two businesses – private equity partnerships and public equity funds. Tiger Global’s private equity partnerships have ten-year horizons and… read more »
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