Home
Internet
Internet News
No Merger Talks With Flipkart, Says ShopClues CEO

No Merger Talks With Flipkart, Says ShopClues CEO 5bn4p

By Press Trust of India | Updated: 21 July 2016 13:15 IST

ment

E-commerce firm ShopClues Wednesday refuted reports that it is in talks with rival Flipkart for a merger.

"Really speaking, it is not the fact. Of course, mergers help but do not guarantee businesses to grow," ShopClues CEO Sanjay Sethi told reporters in Bengaluru . 4wa5n

Sethi said if money was the sole criterion to make and sustain a business, Tatas and Birlas would have merged their companies.

"If money was the only reason why businesses have to be made and sustained, then Tatas and Birlas should be one entity, but they aren't. They are competing with each other," he said.

Sethi also said it is wrong to link ShopClues on the basis of a common investor - Tiger Global.

"The largest investor in our company is Nexux Venture, which is also a very large investor in Snapdeal. Nexus Venture has been with ShopClues for four years, but somehow, nobody asks the same question about Snapdeal," he said.

Reports of ShopClues-Flipkart merger come in the wake of speculation about consolidation in the e-commerce space.

Earlier, ShopClues launched AdZone, a dedicated sellers' platform where merchants looking to their products on ShopClues can enter a bidding process to initiate their campaign.

Comments

For the latest reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.