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Singapore's Qoo10 acquires online marketplace ShopClues in an all-stock deal

R Sinduja

News Editor
Image Credit: shortpedia

A Singapore-based e-commerce platform Qoo10 has acquired ShopClues, a home-grown online marketplace in an all-stock deal. As per sources, the transaction is said to have valued at $70 - $100 million. As part of the transaction, Qoo10 will also acquire Momoe, the payments arm of Clues Network that owns the ShopClues marketplace. Qoo10 operates localised online marketplaces across Singapore, Indonesia, Malaysia, China & HongKong.