Science & Technology

YouTube Winds Up Social Commerce App Simsim

The media giant YouTube shuts down its live social commerce app Simsim, targeting Indian SMEs and retailers, to focus on building a ‘seamless shopping experience for viewers’

YouTube Winds Up Social Commerce App Simsim

Image: pixabay

YouTube is closing its recently-acquired social commerce app Simsim but still aims to build “a seamless shopping experience for viewers and supporting creators’ businesses.”

Simsim will stop taking new orders after March 31. Its team will be further integrated into other business divisions of YouTube.

Simsim’s main purpose was to help small businesses in India transition to e-commerce with the help of video streaming content and trusted creators. The startup’s app acted as a platform to connect local businesses, influencers, and customers.

Namely, influencers recommended products in fashion, electronics, home & kitchen, beauty & grooming through their video content, while customers could use the platform to reach out to the brand and order an item they like.

The streaming giant acquired a live social commerce app in 2021. The deal reportedly cost about $70 million. The acquisition occured just as YouTube started to explore ways to expand its video platform into an e-commerce engine.

The reasons for the service end are not disclosed. Perhaps, a loss of about $19 million registered in 2022 has something to do with the decision. However, the team states it will focus on introducing new shopping features across long-form videos, Shorts and live streams on YouTube in 2023. Thus, YouTube will continue its cooperation with creators in a new format and with new monetisation opportunities.

Nina Bobro

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https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.