ShopClues narrows 2016-17 losses to Rs 333 cr

Online marketplace ShopClues has narrowed its losses to Rs 332.65 crore for the year ended March 2017 compared to the previous fiscal.
The company had a total loss of Rs 383.05 crore in 2015- 16, according to documents filed with the corporate affairs ministry.
Total revenue from operations grew 11.7 per cent to Rs 180.3 crore in 2016-17, from Rs 161.4 crore in the preceding fiscal, the documents showed.
During the fiscal, ShopClues spent Rs 107.3 crore towards employee benefits, it said.
E-mails sent to the company did not elicit any response.
ShopClues, which competes with the likes of Amazon, Flipkart and Paytm, counts Helion Venture Partners and Nexus Venture Partners among its investors.

Founded in 2011, ShopClues has over six lakh merchants. With over 28 million listed products, it gets more than 72 million monthly visits on its platform.