YouTube is shutting down its video commerce app Simsim

American content streaming company YouTube is shutting down its social commerce app Simsim after nearly two years of acquiring it. ET Prime was the first to report that Simsim will stop taking orders from March 31 and its team will be integrated with YouTube.
 
Simsim was founded in 2019 by Amit Bagaria, Kunal Suri, and Saurabh Vashishtha. It helped small businesses transition to ecommerce through influencer-based videos in Hindi, Tamil, and Bengali. Among its backers were Shunwei Capital and Accel.
 
"As we discontinue the Simsim app, we'll be working with creators to introduce more monetisation opportunities for creators through an affiliate program and more shopping features across long-form videos, Shorts and livestreams on YouTube in 2023," a YouTube spokesperson told Moneycontrol.
 
At the time of acquisition in July 2021, YouTube had noted that Simsim would continue to operate independently.
 
"By bringing Simsim and YouTube together, our goal is to help small businesses and retailers in India reach new customers in even more powerful ways," YouTube’s parent company Google had said at that time.
 
"We started Simsim with the mission of helping users across India shop online with ease, enabled through small sellers and brands showcasing and selling their products using the power of content by trusted influencers. Being a part of the YouTube and Google ecosystem furthers Simsim in its mission. We cannot think of a better ecosystem in which to build Simsim, in terms of technology, reach, creator networks and culture," Simsim co-founders had said in a joint statement.

For FY22, Simsim posted a loss of Rs 157.25 crore on revenues of Rs 18.21 crore, according to an Entrackr report.
 
Parallely, YouTube CEO Susan Wojcicki stepped down after nine years at the helm. Wojcicki will be replaced by Indian-American Neal Mohan who was previously the Chief Product Officer at YouTube.

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