India: GIC-backed ShopClues raises $16m funding, scouts for buyer

ShopClues, run by Clues Network Pvt. Ltd, has raised about Rs110 crore, its co-founder Sanjay Sethi said, even as the struggling marketplace seeks to preserve cash and scout for a buyer. For now, the Gurugram-based company, which has seen a drop in daily orders in the last two months, is depending on new initiatives for monetization.