Acquisition
As a vital investment move, Glance will acquire Shop101
Kolkata/UNI: Glance, a content discovery platform and owner of video-platform Roposo, on Monday, announced that it is acquiring full-stack e-commerce platform Shop101.
The acquisition will provide Glance and Roposo end-to-end capability for launching celebrity and influencer-led LIVE commerce.
With Shop101, Glance and Roposo will have access to a market-leading e-commerce technology platform, a comprehensive supply chain infrastructure, and the talent base required to build the celebrity and influencer-driven commerce platform.
"As leaders in the mobile content space, both Glance and Roposo are disrupting the way users create, discover, and consume content, making them the preferred platforms for top celebrities and creators to connect with their audience. With the addition of Shop101, we aim to make these platforms the top shopping destinations for millions of users as well,” said Piyush Shah, Co-Founder, InMobi Group, and President & COO, Glance.
“With Shop101’s technology, partners and hugely talented team, we are in a great position to create this new form of mobile commerce at a global scale,” added Shah.
Shop101, founded by Abhinav Jain, Aditya Gupta, and Kalpak Chhajed in 2015, is a full-stack e-commerce company that brings a network of 10 million resellers and 10,000 supplier partners together serving customers across over 2000 towns across the country, the company said.
The company is backed by Vy Capital, Stellaris Venture Partners, Unilever Ventures, and Kalaari Capital.
Abhinav Jain, Founder & CEO of Shop101 said, “We had started Shop101 as a social e-commerce platform with a vision to democratize entrepreneurship and commerce for the masses using a technology-first approach. With Glance and Roposo, Shop101 will now be part of a company that shares our goal of transforming the shopping experience for millions of consumers globally.”
According to a recent report by management and strategy consulting firm Zinnov, Glance has the potential to be among India’s largest video-first, LIVE, social, and interactive commerce platforms.
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