7-month-old Simsim secures $16M for its social commerce in India – TechCrunch
Simsim, a social commerce startup in India, said on Friday it has raised $16 million in seven months of its existence as it attempts to replicate the offline retail experience in the digital world with help from influencers.
“Despite e-commerce players bandying out major discounts, most of the sales in India are still happening in brick-and-mortar stores.
There is a simple reason for that: Trust,” explained Amit Bagaria, co-founder of Simsim, in an interview with TechCrunch.
It has amassed over a million users, most of whom live in small cities and towns, and it is selling thousands of items each day, said Bagaria.
In about a month, Simsim also plans to start showing live videos, where influencers will be able to answer queries from users.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by StartupAround.
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