What is Simsim? Simsim Review

Basic Introduction

Owned by New Delhi-based SZS Technologies, Simsim was founded in 2018 by former Paytm, McKinsey and Foodpanda executives and is building a vertical e-commerce platform to cater to Indian consumers’ demand for local language solutions. To do this, Simsim markets its products to users through opinion leaders and influencers.

Mode Introduction

The audio-visual e-commerce platform combines the power of video and audio with commerce, attracting offline consumers online through interactive experiences, enabling 30 million to 40 million daily online shoppers to experience digital commerce, and embedding local languages ​​in the application. From focusing only on women's categories and fashion products at the beginning, SimSim has now expanded its platform to allow major influencers to sell products on it and target consumers in small towns.

Purchase page

There are a large number of opinion leaders gathered on Simsim. They can get a certain percentage of commission for each online transaction completed. Opinion leaders play a big role in live streaming sales. This role is often only effective in special communities, and most of them do not have the attribute of cross-community migration.

Financing

In November 2019, simsim announced the completion of a 433.9 million rupee Series A financing, with Accel India and Lei Jun's Shunwei Capital as joint lead investors, each investing 179.1 million rupees, and Good Capital contributing 71.6 million rupees. After the completion of this round of financing, Accel and Astrent each hold 12.5% ​​of the company's shares, while venture capital firm Good Capital owns 13.69% of SimSim's equity.

In February 2020, SimSim announced that it had completed a Series B financing of 570 million rupees (about 8 million US dollars) from existing investors including China's Shunwei Capital and venture capital firm Accel Partners.

References

• 1. Indian video e-commerce platform SimSim completes 570 million rupees in Series B financing: Cross-border Knowledge [cited date 2020-02-16T16:00:00.000Z]
• 2. Simsim enters the blue ocean of Indian social e-commerce: Sohu [cited on 2019-11-30T16:00:00.000Z]
• 3. Simsim completes Rs433.9 million Series A financing, led by Shunwei Capital : Baijiahao [cited on 2019-11-15T16:00:00.000Z]