YouTube acquires Indian social commerce startup Simsim with a valuation of over $70 million

Google's YouTube said on Tuesday it has acquired Indian social commerce startup Simsim, according to news website TechCrunch .

While neither company disclosed the terms of the deal, TechCrunch reported that the Indian startup will be valued at more than $70 million. Simsim CEO did not respond to questions about the acquisition late Monday.

The Gurgaon-based startup is leveraging the power of videos and creators to help small and medium businesses in India transition to e-commerce. The startup’s app acts as a platform to connect local businesses, video bloggers, and customers.

Simsim's mission is to help users across India shop online easily, with small and medium-sized sellers and brands showcasing and selling their products through famous video bloggers. Video creators post video reviews of business or brand products, and viewers can purchase these products directly through the app.

"Simsim's mission is furthered by being part of the YouTube and Google ecosystem," said Simsim co-founder.

Before YouTube announced the deal, Simsim, which has been established for two years, had successfully raised approximately US$17 million and was valued at US$50.1 million in its Series B financing in 2020.

YouTube , which has more than 450 million monthly active users in India , said it does not plan to make any immediate changes to Simsim and will let the startup’s app continue to operate independently, but is also looking at ways to showcase Simsim’s products to YouTube viewers .

As one of Google's latest moves in India, Google has pledged to invest $10 billion in the country over the next few years . The internet giant has also invested in Indian startups Glance and Daily Hunt, both of which operate short video apps.

Gautam Anand, Vice President, Asia Pacific, YouTube, said: “With over 2,500 YouTube vloggers and over 1 million subscribers, coupled with the success of YouTube Shorts, which we first launched in India, we are committed to bringing the best of YouTube to India and further expand our user base.”

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