Amazon, which invested $6.5B in its India business, is now looking to explore social commerce in India by acquiring social commerce startup GlowRoad in an all-cash deal, according to people familiar with the matter, citing TechCrunch. matters indicated.
While a company spokesperson confirmed the acquisition, it said the move will help the company achieve its commitment to digitize 10 million businesses across the country by 2025.
“Amazon continues to explore new ways to digitize India and delight customers, micro-entrepreneurs and sellers, and the introduction of 4-year-old startup GlowRoad is a key step in that direction,” the company added.
GlowRoad sells products to customers at wholesale prices and helps with resale on Facebook and WhatsApp; it also provides them with a logistics network and the ability to collect cash.
In early April, GlowRoad said it would expand to some markets in the Southeast Asian region.
GlowRoad is committed to creating more “home entrepreneurs” and bringing many unique and unbranded suppliers to the platform.
Financial terms of the acquisition were not disclosed.
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