YouTube has acquired social commerce startup Simsim, the Google-owned firm said on Tuesday. Neither of the firms disclosed the terms of the deal, but two people with knowledge of the matter told TechCrunch the Indian startup was valued at over $70 million. Simsim chief executive didn’t respond to a query about the acquisition Monday evening (IST).
Two-year-old Simsim had raised about $17 million and was last valued at $50.1 million.
Gurgaon-headquartered Simsim helps small businesses in India transition to e-commerce by using the power of video and creators. The simsim app serves as a platform to connect local businesses, influencers and customers.
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