Google's YouTube on Tuesday said it has signed a definitive agreement to acquire Indian video e-commerce platform simsim.
In a blogpost, Google India said the transaction is expected to be completed in the coming weeks, but didn't disclose the financial details about the deal.
"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," it said.
The simsim app serves as a platform to connect local businesses, influencers and customers.
Creators post video reviews about products from local businesses on the app, 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," the blogpost said.
The company said there will be no immediate changes to simsim, and the app will continue operating independently. YouTube is working on ways to showcase simsim offers to its viewers.
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"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 in which to build simsim, in terms of technology, reach, creator networks and culture," simsim cofounders Amit Bagaria, Kunal Suri and Saurabh Vashishtha said in a joint statement.
As more and more shopping happens online, video has an important role in helping viewers discover new products and find expert advice they trust, the blogpost said. "... 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 the announcement of simsim's acquisition builds on its ongoing investments in India, such as the India Digitization Fund announced last year. In July last year, Google CEO Sundar Pichai had announced the $10-billion Fund to help accelerate India's digital economy.
"We're inspired by the opportunity in India and look forward to working with the simsim team to build the future of online video commerce in India," the company said.
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