Google has acquired social media startup Simsim, the company that owns Google announced on Tuesday. None of the companies mentioned the terms of the deal, but two insiders told Tech Crunch that India’s initial value is more than $ 70 million.
The two-year-old SIMC raised about $ 17 million before today’s announcement and was worth $ 50.1 million in the 2020 B financial year.
The launch of Gurage’s headquarters will help small businesses in India use the power of video and creators to e-commerce. The launch anonymous app acts as a platform to connect local businesses, influencers and customers.
According to Rohan Malhora, a former supporter of Simsse, Gull Capital is “more effective in building a targeted audience, creating fun experiences, building trust, and personalizing. Messaging (conversion) Customers’ social media platforms (Facebook, YouTube, Instagram, etc.) cannot make meaningful money through advertising-supported models in India. This opens up opportunities for more integrated marketing platforms. New Internet users in India need an interactive vendor-led experience to replicate this market-oriented off-line e-commerce experience.
He, like everyone else, refused to comment on the terms of the agreement. SIM CEO did not respond to a request for comment on Monday evening (IST).
We have started Mission Sims to help consumers in India easily shop online, and it has been empowered by small retailers and brands to use the power of their content to display and sell their products. Being part of the YouTube and Google ecosystem enhances similarities in its mission, ”said Sims Amit Bagaria, Kunal Suri and Saurah Vashita in a joint statement. Bagaria and Vashista had previously worked together in Pete.
We can’t think of a better ecosystem to build technology in terms of technology, access, creative networks and culture. We can’t wait to be a part of YouTube and we’re excited to build similarities with some of the world’s most amazing technology companies.
Video APP’s giant video stream for small businesses and retailers in India will enable new customers to reach new customers in more powerful ways, writes YouTube APP VP Gautham Anand in a blog post.
The video streaming service, which has more than 450 million monthly active users in India, has no plans to make any significant changes to SIMC, and the launch app will continue to operate on its own, “he said.
Tuesday’s announcement: Google’s latest push is in India and promises to invest $ 10 billion over the next two years. Internet giants also supported Indian startup jigsaw and DailyHant, both of which run short video apps.
With over one million subscribers, more than 2,500 YouTube creators and the success of our first YouTube short in India, we are committed to bringing the best of YouTube to India and growing the fastest growing community. To begin with, the new generation of mobile-creators. ”