Amazon buys GlowRoad - a social commerce startup
By MYBRANDBOOK
The online retail giant Amazon has taken over homegrown women-focused social commerce startup GlowRoad for an undisclosed amount.
In a statement, the company said that with this acquisition Amazon will be able to meet the commitment of digitizing 10 million local Indian businesses by 2025.
“Amazon continues to explore new ways to digitise India and delight customers, micro- entrepreneurs and sellers and bringing GlowRoad onboard is a key step in this direction,” a company spokesperson told a news source.
The acquisition comes at a time when the social commerce industry in India is booming, with players like Flipkart’s social commerce platform arm Shopsy and Meesho.
Amazon also said that with GlowRoad, it will help accelerate entrepreneurship among millions of creators, homemakers, students, and small sellers from across the country.
“This acquisition will complement GlowRoad’s already loved service with Amazon’s technology, infrastructure, and digital payments capabilities, bringing more efficiency and cost-saving for everyone,” said the company spokesperson.
GlowRoad has recently secured almost $32 million and has investors like Accel, Vertex Ventures and CHD Investments, among others.
The platform has over six million resellers and is present in more than 2,000 cities.
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