In India, Amazon is preparing to explore social commerce, even though it is attempting to take on Shopify in the west.
The e-commerce giant made a bigger push into one of its key overseas markets with the acquisition of the social commerce startup GlowRoad, according to a source directly familiar with the matter.
An announcement could be made within days, according to the source. After office hours, Amazon India did not respond to a request for comment.
The startup sells products to customers at wholesale prices and helps them resell them on Facebook and other social media sites. They can collect money and deliver the product. On its website, the startup says it has built a network of over 6 million people who earn on average 35,000 Indian rupee per month.
GlowRoad said it will expand to some markets in the Southeast Asia region.
GlowRoad is committed to creating more home entrepreneurs and bringing many unique and un branded suppliers to the platform. After four years, we have just scratched the surface, and there is more to be done.
The four-year-old startup, which we have written about twice before, has raised $32 million in previous investments, according to data intelligence platform Tracxn.
The source said that the employees of GlowRoad will join Amazon. The matter is not public yet, so the source requested anonymity.
At a time when its main rival, Walmart-owned Flipkart, is aggressively ramping up its own social commerce offering, Amazon is experimenting with social commerce. According to industry estimates, SoftBank and Facebook-backed Meesho and Alpha Wave Global and Tiger Global-backed Dealshare have a larger market share than Shopsy.
The Good Capital-backed Simsim was acquired by YouTube last year.
All Rights Reserved © 2024
