YouTube To Acquire India's Video Commerce Platform simsim For Undisclosed Sum

by Anusuya Lahiri, Benzinga Editor
July 20, 2021 7:05 AM | 1 min read |
  • Alphabet Inc's GOOG GOOGL YouTube inked an agreement to acquire India's simsim.
  • The financial terms of the transaction remain undisclosed.
  • simsim helps small businesses in India transition to e-commerce by using the power of video and creators. Creators post video reviews about products from local businesses, and viewers can buy those products directly through the app.
  • The startup had a valuation of over $70 million, TechCrunch reported.
  • Alphabet held $135.1 billion in cash and equivalents as of Mar. 31.
  • Price action: GOOG shares closed lower by 1.97% at $2,585.08 on Monday.
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