The Google-owned YouTube has acquired Indian video commerce Simsim for an undisclosed price. YouTube said that they had signed a definitive agreement to acquire the Delhi-based startup and hope to finish the acquisition dealings in the coming weeks.
Gautam Anand, who holds the office of the VP, YouTube APAC, in a press release, said that by bringing Simsim and YouTube together, the company goal is to help small businesses and retailers in India to reach new customers in even more powerful ways. He added that Simsim would not be undergoing any immediate changes, and the app will continue to operate independently. At the same time, YouTube will work on ways to showcase Simsim offers to YouTube viewers of YouTube.
Simsim cofounders Amit Bagaria, Kunal Suri, and Saurabh Vashishtha, in their joint statement, stated that they started working with Simsim with the goal of helping users across the India shop online with ease, enabled through small brands and sellers selling their products using the power of content by trusted Influencers. The joint statement also noted that being part of YouTube and the Google ecosystem helps Simsim achieve its goal.
They added that they cannot think of a better ecosystem to build Simsim in terms of technology reach culture and creator networks. The founders also expressed their excitement to build Simsim within the most admired tech company in the world. YouTube has its highest user base in India, at 255 million viewers who access it regularly for videos. In early 2020, Simsim launched its own customized content product named Rubaru that allows users to send video messages and tips recorded by celebrities for their family and friends.
The latest Acquisition announcement is Google’s latest push in India, where it has committed to invest $10 billion in the next couple of years. The internet major has also backed up DailyHunt and Glance, Indian startups with a focus on operating short video apps.