Riding piggyback on festive season sales, Shopclues aims to be the fourth Indian e-commerce firm in the country to reach one billion US dollar annualized gross merchandise value (GMV).

Boosted by festive sales, the company is targeting Rs 1500 crore transactions by December which will help it reach GMV of 1 billion US dollar, its co-founder, sanjay sethi said.

Presently Flipkart, Amazon India and Snapdeal have an annualised GMV (total value of goods sold) of over 1 billion US dollar.

The marketplace, which is focused on servicing tier-II and tier-III cities, has claimed a seven-fold rise in traffic compared to the previous year at this time with home and kitchen and lifestyle segments notching up highest transactions.

Shopclues services 30,000 postal codes and is looking to service all the sectors that are so far not being covered by the larger e-commerce players like Flipkart, Amazon and Snapdeal.