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Shopclues claims to reach break-even this holiday season

Shopclues claims to reach break-even this holiday season

Friday, August 10, 2018, 5:58 PM

ShopClues CEO Sanjay Sethi claimed in an e-mail to employees that the e-commerce website expects to reach break-even during Diwali season and also raised about $16 million from existing investors this year. Sethi said the company's burn had gone below $0.5 million a month from $5.5 million in January 2017. The Gurugram-based firm has fired about 350 employees since 2017.
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