YouTube has announced that it will shut down the live-streamed social media application, Simsim, less than two years after purchasing Simsim, an Indian company. However, the platform said that it was dedicated to creating “a smooth shopping experience to its customers and helping creators’ businesses.”
Simsim was founded to assist small-scale companies in India make the transition to e-commerce using the increasing popularity of videos and the creators. Simsim’s app was branded as a platform that connected with local companies, influential people, and customers.
YouTube bought Simsim in the middle of 2021 in an acquisition which valued the Indian company at more than $70 million. In the beginning, YouTube said the acquisition will allow the streaming company to assist small-scale businesses and retailers in India to reach new customers in more effective ways.
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Amazon Live, the service of the retail giant known as Amazon Live offers an army of over 150 artists to create livestreams and promote products into the videos. The concept is that the influencers who already have large followers, will draw their followers to the shopping app, and then influence them into buying items. They receive a percentage of the purchase whenever they are able to sell a product.
YouTube isn’t completely out of the category, however. A spokesperson told us on Thursday that the company would be “working with creators to create new monetization options for creators via an affiliate program, as well as more shopping options across long-form videos shorts, livestreams, and more on YouTube in 2023.”
