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Business News/ Companies / Start-ups/  Glance eyes social commerce platform Shop101’s takeover
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Glance eyes social commerce platform Shop101’s takeover

Glance had entered India's unicorn club in December last year, having raised $145 million in a primary investment round from Google and existing investor Mithril Capital at a valuation of $1 billion

Glance, which also owns short-video app Roposo, is expected to leverage Shop101’s e-commerce technology platform to launch influencer-led commerce in the country over the next three months.Premium
Glance, which also owns short-video app Roposo, is expected to leverage Shop101’s e-commerce technology platform to launch influencer-led commerce in the country over the next three months.

BENGALURU:Short-video and content discovery platform Glance will acquire social commerce platform Shop101, as it looks to offer influencer-led and live commerce on it platform. The deal is estimated to be worth $40-$45 million, two people aware of the discussions said, on condition of anonymity.

The deal has led to exits of Shop101’s investors including Vy Capital, Stellaris Venture Partners, Unilever Ventures and Kalaari Capital. The startup’s 300-member team will also join Glance, according to a senior firm executive.

Glance, which also owns short-video app Roposo, is expected to leverage Shop101’s e-commerce technology platform to launch influencer-led commerce in India over the next three months. It is also expected to launch live commerce on its platform later this fiscal year. Glance sits on the Android lock screen and delivers artificial intelligence-driven personalized content in multiple language.

The company also plans to start pilots of its influencer-led commerce offering in the international market in the next six months. Over the next two to three months, Glance expects to garner almost half of its revenues through these new e-commerce models, said the company executive.

“The Shop101 acquisition will lead to a live commerce experience on our platform as we look to create one of the largest live platforms on the lock screen. We have live entertainment, news, gaming and now live commerce. Live commerce is far more interactive than short-video and the shopping experience is tailored to the questions of shoppers. We will also leverage our vernacular strengths and offer commerce in regional languages," Piyush Shah, co-founder, InMobi Group, and president and chief operating officer, Glance, said in an interview.

Glance moved into India’s so-called unicorn club last December after raising $145 million in a primary investment round from Google and existing investor Mithril Capital at a valuation of $1 billion.

The company claims to be present across 300 million devices, with over 125 million daily active users. Roposo achieved more than 100 million downloads and has a total user base of 1.2 million content creators across 12 regional languages, the company said.

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Published: 14 Jun 2021, 03:20 PM IST
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