YouTube acquires e-commerce startup to help small businesses transition online
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Youtube has announced its acquisition of the Indian social commerce startup Simsim.
The newly announced deal is set to enable the video streaming giant to help small businesses and retailers in India reach new customers in even more powerful ways.
Simsim is helping small businesses in India transition to e-commerce by using the power of video and creators. The Simsim app serves as a platform to connect local businesses, influencers, and customers.
In a statement issued by Google, the company said: “As more and more shopping happens online, video has an important role in helping viewers discover new products and find expert advice they trust. Every day, people come to YouTube to compare products, watch reviews and find recommendations from their favourite creators.”
“Today, we are taking another step to help viewers discover and buy products from local businesses. We have signed a definitive agreement to acquire Simsim and expect to complete the transaction in the coming weeks.”
Simsim co-founders, Amit Bagaria, Kunal Suri, and Saurabh Vashishtha said: “Being a part of the YouTube and Google ecosystem furthers Simsim in its mission. We cannot think of a better ecosystem in which 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.”
“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.”
Creators get to post video reviews about products from local businesses, and viewers can buy those products directly through the app. 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.