Online marketplace ShopClues has acquired Bengaluru-based startup Momoe as it looks to build a payments business. The deal will also help ShopClues establish an office in the startup capital and all five Momoe founders are expected to join its senior management team across functions like design, corporate development and technology. The deal size is pegged at $10-12 million, with consideration being paid in both cash and stock.


Flipkart, the parent of lifestyle e-tailer Myntra, is emerging as the front-runner to acquire rival fashion portal Jabong. Jabong currently commands 25% market share in online fashion retailing, while Myntra holds around 35% market share and the parent Flipkart has around 10% share. If Jabong rolls into its fold, Flipkart and its subsidiaries together will hold around 70% of the online apparel sales.