Singapore’s Qoo10 acquires Indian online marketplace ShopClues

Qoo10, a Singapore-based e-commerce firm has acquired India’s online marketplace ShopClues in an all-stock deal, the two companies said Thursday. The deal, which per a person familiar with the matter valued ShopClues at $100 million, ends years-long struggle at once thriving Indian firm to find a new home. The new deal will see ShopClues merged with eBay-backed Qoo10.

The announcement today comes months after ShopClues was in talks with Indian online retailer Snapdeal for a sale. At the time, ShopClues, which was worth $1.1 billion, was valued at about $200 million.

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