YouTube shuts its live social commerce app Simsim

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Following layoffs and a cost-cutting exercise at parent Google, streaming platform YouTube announced that it is discontinuing its live social commerce app Simsim.

The news comes two years after the Google-owned streaming service acquired the Indian startup for a reported $70 million.

Even as it closes down Simsim, YouTube appears intent on expanding its social commerce vertical. YouTube stated in a statement that it will continue to collaborate with creators to introduce new monetisation opportunities and is committed to supporting creators’ businesses.

“As we phase out the Simsim app, we’ll be working with creators to introduce more monetisation opportunities for creators on YouTube in 2023, including an affiliate programme and more shopping features across long-form videos, Shorts, and livestreams,” a YouTube spokesperson said.

Simsim worked at the crossroads of customers, social media celebrities, and local businesses. The platform enabled creators to directly market products from local businesses and sell them to customers using its app.

YouTube stated at the time of Simsim’s acquisition in 2021 that it hoped to use the deal to help Indian small businesses reach new customers. However, the transaction does not appear to have gone as planned for the streaming behemoth.

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YouTube shuts its live social commerce app Simsim

Following layoffs and a cost-cutting exercise at parent Google, streaming platform YouTube announced that it is discontinuing its live social commerce app Simsim.

The news comes two years after the Google-owned streaming service acquired the Indian startup for a reported $70 million.

Even as it closes down Simsim, YouTube appears intent on expanding its social commerce vertical. YouTube stated in a statement that it will continue to collaborate with creators to introduce new monetisation opportunities and is committed to supporting creators’ businesses.

“As we phase out the Simsim app, we’ll be working with creators to introduce more monetisation opportunities for creators on YouTube in 2023, including an affiliate programme and more shopping features across long-form videos, Shorts, and livestreams,” a YouTube spokesperson said.

Simsim worked at the crossroads of customers, social media celebrities, and local businesses. The platform enabled creators to directly market products from local businesses and sell them to customers using its app.

YouTube stated at the time of Simsim’s acquisition in 2021 that it hoped to use the deal to help Indian small businesses reach new customers. However, the transaction does not appear to have gone as planned for the streaming behemoth.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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