YouTube to acquire Indian video e-commerce platform Simsim, Marketing & Advertising News, AND BrandEquity

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YouTube announced on Tuesday that it 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 are taking a further step in helping viewers discover and purchase products from local businesses: we have signed a definitive agreement to acquire Simsim and plan to close the deal in the coming weeks,” said Google in a blog post.

The company did not disclose the financial details of the transaction, however.

There will be no immediate changes in Simsim and the app will continue to operate independently, he added.

YouTube is working on ways to present the Simsim offerings to YouTube viewers.

In a joint statement, Simsim co-founders Amit Bagaria, Kunal Suri and Saurabh Vashishtha said the platform was launched to help users across India to shop online with ease, through small sellers and brands showcasing and selling their products using the power of trusted content. influencers.

“Being part of the YouTube and Google ecosystem takes Simsim forward in its mission. We can’t think of a better ecosystem in which to build Simsim, in terms of technology, reach, creator networks and culture,” said they added.

The blog post noted that as more and more purchases take place online, video is playing an important role in helping viewers discover new products and find expert advice they have come across. trust.

“Every day people come to YouTube to compare products, watch reviews and find recommendations from their favorite creators … Simsim is helping Indian small businesses make the transition to e-commerce using the power of video and creators “, he added.

The Simsim app serves as a platform to connect local businesses, influencers, and customers. Creators post video reviews of products from local businesses, and viewers can purchase those products directly through the app. The videos are available in three local languages, including Hindi, Tamil and Bengali.

“For over 15 years, small businesses have used YouTube to expand their online presence, and many of them have used YouTube to reach customers outside of their local community … By bringing Simsim and YouTube together, our goal is to ‘helping small businesses and retailers in India reach new customers in even more powerful ways,’ he said.

With over 2,500 YouTube creators with over a million subscribers and YouTube Shorts which launched in India first, Google said it is committed to bringing the best of YouTube to India and growing the community. creators by making the new generation of mobiles even easier. first designers to launch.

Google said the announcement builds on its ongoing investments in India, such as the Indian Digitization Fund announced last year.

“We are 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 blog said.

This strategic decision aims to attract the creators of TikTok by the end of 2022 …

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