InMobi Group-owned content discovery platform Glance has announced that it is acquiring full stack e-commerce platform Shop101. Financial details of the deal are yet undisclosed.
The acquisition will provide Glance and Roposo end-to-end capability for launching celebrity and influencer-led LIVE commerce, as the company looks to transform mobile shopping experience for consumers globally, it said in a statement.
Through this acquisition, Glance and Roposo will have access to e-commerce technology platforms, comprehensive supply-chain infrastructure, and the talent base required to build the platform that relies on celebrities and influencers.
Shop101 can also benefit from the acquisition as the company’s suppliers can use Glance’s more than 125 million daily active users.
Glance also owns one of India’s leading short-video talent platforms Roposo.
“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,” Glance President and Chief Operating Officer Piyush Shah, who is also co-founder, InMobi Group, said.
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 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.
“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,” Shop101 Founder and Chief Executive Officer Abinav Jain said.
