YouTube to acquire Indian video e-commerce platform Simsim

Youtube announced on July 20 that will acquire the Indian Video E-commerce platform simsim, as part of its efforts to help small businesses and retailers in India reach new customers.

“We take another step to help viewers find and buy products from local businesses: We have signed a definitive agreement to acquire simsim and hope to complete the transaction in the coming weeks,” Google said in a blog post.

However, California-based technology giants did not disclose the financial details of the transaction.

There will be no direct change to simsim and the application will continue to operate independently when we work by means of showing off the offer of simsim to youtube users, Google said.

Simsim Co-Founders Amit Bagaria, Kunal Suri and Saurabh Vashistha said in a joint statement that the platform began to help users throughout India to shop online easily, activated through sellers and small brands that show off and sell their products with trusted influencer.

“Being part of YouTube and Google Ecosystem Furhers simsim in its mission. We cannot think of better ecosystems to build simsim, in terms of technology, reach, network creator and culture,” he added.

Blog posts note that because more shopping occurs online, videos have an important role in helping viewers find new products and find expert advice they believe.

“Every day, people come to YouTube to compare products, watch reviews and find recommendations from their favorite creators … Simsim helps small businesses in the Indian transition to e-commerce by using the power of videos and creators,” he added.

The SIMSIM application functions as a platform to connect local businesses, influencers and customers. Creator posts video reviews on products from local businesses, and viewers can buy products directly through the application.

These videos are available in three local languages including Hindi, Tamil and Bengali.

“For more than 15 years, small businesses have used YouTube to expand their presence online – and many of them use YouTube to reach customers outside their local community … by bringing simsim and youtube together, our goal is to help businesses And small retailers in India. A new customer range in a stronger way, “Google said on a blog post.

With more than 2,500 youtube makers with more than one million customers and youtube shorts launched in India first, Google says committed to bringing the best from YouTube to India and growing the creator community by making it easier for the first generation of mobile-creators first for start.

Google said the announcement was building a sustainable investment in India, such as Indian digitization funds announced last year.

“We were inspired by opportunities in India and hoping to work with the simsim team to build the future of online video trade in India,” added blog posts.

In February 2020, SZS Tech, which owns and operates simsim, has collected more than $ 8 million in the Series-b funding round.