ShopClues founder couple, Sandeep and Radhika Aggarwal, trades charges
NEW DELHI: A bitter row between two cofounders of the ShopClues marketplace went public after Sandeep Aggarwal levelled several allegations against his estranged wife Radhika, currently chief business officer at the Gurgaon-based company, in a series of Facebook posts on Sunday.
She hit back by accusing her husband of not being able to stomach the fact that joint efforts by all the cofounders had gone into the making of ShopClues.
Aggarwal accused his wife of stripping him of his voting rights and taking all the credit for ShopClues. In her statement, Radhika Aggarwal said she was disturbed by her husband's social media posts. ShopClues was built through team effort, she said.
“I am shocked and devastated to see the levels to which Sandeep will stoop in our personal separation battle with little consideration for our children and family,” she said in the emailed statement. “I will not be commenting on any personal matters. However, I continue to maintain that ShopClues was always a group effort, to acknowledge which is unpalatable to Sandeep Aggarwal.”
The two have been living separately for more than six months and Radhika has filed for divorce, according to people with knowledge of the matter.
Sandeep Aggarwal said in a Whatsapp message to ET that he funded ShopClues with his personal savings for the first eight-nine months before raising $1.95 million from friends. He also said he remains the largest individual shareholder and majority holder of the company's common shares.
ShopClues was founded in 2011 by the Aggarwals and Sanjay Sethi. About two years later, Sandeep Aggarwal was arrested by the Federal Bureau of Investigation (FBI) in the US over allegations of insider trading during his previous job as an analyst at Collins Stewart in the US.
ShopClues replaced him as chief executive and Sandeep left the company. He subsequently started Droom, a marketplace dealing in automobiles.
According to the Whatsapp message that Sandeep Aggarwal sent to ET, he filed a complaint with the economic offences wing of the Gurgaon police sometime after October 2016. He filed a criminal defamation case against Sanjay and Radhika in the Delhi courts in March 2017.
ShopClues, a marketplace generally targeted at customers in tier 2 and tier 3 cities, entered the ranks of India’s unicorns after a fresh round of funding valued it in excess of $1billion last year.
The company has investments from GIC Pte Ltd, Tiger Global Managment LLC and Nexus Venture Partners.
She hit back by accusing her husband of not being able to stomach the fact that joint efforts by all the cofounders had gone into the making of ShopClues.
Aggarwal accused his wife of stripping him of his voting rights and taking all the credit for ShopClues. In her statement, Radhika Aggarwal said she was disturbed by her husband's social media posts. ShopClues was built through team effort, she said.
“I am shocked and devastated to see the levels to which Sandeep will stoop in our personal separation battle with little consideration for our children and family,” she said in the emailed statement. “I will not be commenting on any personal matters. However, I continue to maintain that ShopClues was always a group effort, to acknowledge which is unpalatable to Sandeep Aggarwal.”
The two have been living separately for more than six months and Radhika has filed for divorce, according to people with knowledge of the matter.
Sandeep Aggarwal said in a Whatsapp message to ET that he funded ShopClues with his personal savings for the first eight-nine months before raising $1.95 million from friends. He also said he remains the largest individual shareholder and majority holder of the company's common shares.
ShopClues was founded in 2011 by the Aggarwals and Sanjay Sethi. About two years later, Sandeep Aggarwal was arrested by the Federal Bureau of Investigation (FBI) in the US over allegations of insider trading during his previous job as an analyst at Collins Stewart in the US.
ShopClues replaced him as chief executive and Sandeep left the company. He subsequently started Droom, a marketplace dealing in automobiles.
According to the Whatsapp message that Sandeep Aggarwal sent to ET, he filed a complaint with the economic offences wing of the Gurgaon police sometime after October 2016. He filed a criminal defamation case against Sanjay and Radhika in the Delhi courts in March 2017.
ShopClues, a marketplace generally targeted at customers in tier 2 and tier 3 cities, entered the ranks of India’s unicorns after a fresh round of funding valued it in excess of $1billion last year.
The company has investments from GIC Pte Ltd, Tiger Global Managment LLC and Nexus Venture Partners.
