ShopClues Bags Rs. 54 Crores From Helion & Nexus

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 WATBlog.com - Web, Advertising and Technology Blog in India » Startups]