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YouTube acquires social commerce startup Simsim

Tuesday 20 July 2021 13:41 CET | News

YouTube has announced the acquisition of Simsim, an India-based social commerce startup.

According to TechCrunch, Simsim had raised approximately USD 17 million prior to the acquisition announcement and was valued at USD 50.1 million in its 2020 Series B financing round. The startup helps small businesses in India transition to ecommerce by using the power of video and creators. The startup’s app acts as a platform to connect local businesses, influencers, and customers.

A Youtube representative informed that for YouTube, the acquisition will enable the video streaming giant help small businesses and retailers in India reach new customers. The video streaming service, which reaches over 450 million monthly active users in India, does not plan to make any immediate changes to Simsim and the startup’s app will continue to operate independently.


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Keywords: social commerce, ecommerce
Categories: Payments & Commerce
Companies:
Countries: India
This article is part of category

Payments & Commerce






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