YouTube, which is owned by Google, has announced the closure of Simsim, a live social commerce platform acquired less than two years ago.
According to IANS, Simsim is an Indian bsiuness that the streaming giant acquired in mid-2021. It aided small companies in making the shift to e-commerce with influencer-based videos in Hindi, Tamil, and Bengali.
Creators published video reviews of local businesses products, and viewers may purchase those products directly through the app.
YouTube acquired Simsim in a deal worth more than $70 million. YouTube announced at the time that the acquisition will enable the video streaming giant to help small companies and shops in India reach new customers in even more effective ways.
Further, the acquisition of Simsim occurred at a time when YouTube was seeking methods to expand into e-commerce, according to the article.