E-commerce marketplace ShopClues.com has appointed its co-founder Sanjay Sethi as the new CEO of the company. He has taken over the position from the erstwhile CEO and founder Sandeep Aggarwal who has been arrested by FBI agents in San Jose in July this year.
Aggarwal was a former Wall Street analyst and has been arrested on insider trading charges, as per tweets posted by FBI New York Bureau. Prior to this appointment, Sethi was serving as Vice-President (Products) since the company’s inception in July 2011.
He has also worked as the Global Product Head for Shipping & Logistics, Payments & Billing at eBay Inc in Silicon Valley. He brings with him over 18 years of experience where he has worked with firms like Tradebeam, HCL Perot Systems, IIS Infotech and Steel Authority of India Limited.
ShopClues was founded in November with an initial capital of USD 2 million from unknown foreign angel investors. The platform has raised USD 15 mn in funding and its investors include Helion Venture Partners, Nexus Partners, Teruhide Sato, CEO of Netprice.com, a Japanese Internet company.
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