YouTube to acquire Delhi-based social commerce platform simsim
YouTube has signed a definitive agreement to acquire Delhi-based social commerce startupand expects to complete the transaction in the coming weeks.
Delhi-based simsim is helping small businesses in India transition to ecommerce by using the power of video and creators to reach new customers. The simsim app serves as a platform to connect local businesses, influencers, and customers.
On simsim, creators post video reviews about products from local businesses, and viewers can buy those products directly through the app. The videos are available in three local languages including Hindi, Tamil, and Bengali, enabling retailers of all sizes to reach buyers through video in their preferred language.
In a joint statement, simsim co-founders Amit Bagaria, Kunal Suri, and Saurabh Vashishtha said, “We started simsim with the mission of helping users across India shop online with ease, enabled through small sellers and brands showcasing and selling their products using the power of content by trusted influencers.
"Being a part of the YouTube and Google ecosystem furthers simsim in its mission. We cannot think of a better ecosystem to build simsim in terms of technology, reach, creator networks, and culture. We can’t wait to be part of YouTube and are excited to build simsim within the most admired tech company in the world.”
In a blogpost, Gautam Anand, VP, YouTube APAC, said, every day, people come to YouTube to compare products, watch reviews, and find recommendations from their favorite creators, and this acquisition is another step to help viewers discover and buy products from local businesses.
"By bringing simsim and YouTube together, our goal is to help small businesses and retailers in India reach new customers in even more powerful ways. There will be no immediate changes to simsim, and the app will continue operating independently while we work on ways to showcase simsim offers to YouTube viewers," Gautam wrote in the blog.
Earlier, Google and Alphabet Inc CEO Sundar Pichai had announced $10 billion for India Digitization Fund to help accelerate India’s digital economy. In the latest blog, the company said that as it works with partners to expand access to the Internet, they know the online video will continue to grow as the primary way to find information, entertainment and connections in India.
"With over 2,500 YouTube creators with over one million subscribers, and the success of YouTube Shorts, which we launched in India first, we are committed to bringing the best of YouTube to India and growing the creator community by making it even easier for the new generation of mobile-first creators to get started," the blog added.