Popular video platform YouTube is now planning to expand its scope. YouTube said on Tuesday that it will acquire Indian video e-commerce platform Simsim, which aims to help small businesses and retail sellers reach out to new customers. We are taking another step to help the audience explore and buy local business products, Google said in a blogpost. We have signed a binding agreement to acquire Simsim and the transaction is expected to be completed in the coming weeks. The company however did not disclose the financial details of the transaction.
The blogpost stated that there will be no immediate change in Simsim and the app will continue to operate independently. Simsim co-founders Amit Bagaria, Kunal Suri and Saurabh Vashishta said in a joint statement that the platform was launched to help users across India easily shop online.
We launched Simsim with a mission to help users easily shop online across India, which is able to showcase and sell its products using the power of content by reliable influential people through small vendors and brands, he explained. Being part of YouTube and Google Ecosystem, Simsim takes Simsim forward in its mission.