ShopClues Bags Rs. 54 Crores From Helion & Nexus

by Paul Joseph on March 15, 2013 · 0 comments

Disruptive marketing e-Commerce web-portal ShopClues has received Rs. 54 Crores (US$ 10 Million) from existing investor Nexus Partners as well as Helion Venture Partners . The company founded by four individuals, including former Wall Street Analysts Sandeep Agarwal has a rather different approach to the e-Commerce segment, “ We do not pay Sales Tax, rather we pay Service Tax as ShopClues is not a retailer and does not buy from manufacturers as we are the facilitator and not the retailer, ” said Sandeep. In simple terms, the site is not an intermediary.

[via – Web, Advertising and Technology Blog in India » Startups]

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