How ShopClues lost its unicorn tag

Once a unicorn, ShopClues was recently sold for $60 million-$70 million. Start-up founders must pay close attention, to avoid the same mistakes


An uneasy calm filled the air one morning in July 2013 at ShopClues’ Gurugram office. Employees were just trickling in, but the atmosphere was tense with hushed conversations about what had happened while they were fast asleep. Sandeep Aggarwal, their boss and the e-commerce marketplace’s co-founder had been arrested in the US on insider trading charges. Although unrelated to the ShopClues operations, it raised questions about what the future would hold for the employees. The CEO was taken in for allegedly tipping off a portfolio manager about a pending deal while working at Wall Street. The co-founders — Aggarwal’s wife Radhika who headed marketing and Sanjay Sethi who headed operations — sprung into action. They addressed a nervous workforce over the next few days and presented a strong front.