Google’s video streaming and sharing platform YouTube has signed a definitive agreement to acquire video-based social commerce startup simsim, according to ETTelecom report. Financial details of the deal were not disclosed.
The deal builds towards Google’s ongoing investments in India, such as the India Digitization Fund worth $10 billion.
“Online video will continue to grow as the primary way to find information, entertainment, and connections in India. With over 2500 YouTube creators with over one million subscribers, and the success of YouTube Shorts, which we launched in India first, we’re 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,” Google said in a blogpost.
Founded in 2019 by Amit Bagaria, Kunal Suri, and Saurabh Vashishtha, simsim helps small businesses in India transition to e-commerce by leveraging the strength of video and creators. It serves as a platform to connect local businesses, influencers and, customers.
“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,” simsim cofounders said in a joint statement.
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