Roposo parent firm Glance acquires full stack e-commerce company Shop101
Glance, which owns video platform Roposo, announced on Monday that it is acquiring Shop101, as the InMobi group firm looks to strengthen its position in the country's influencer-led commerce space.
Glance and Roposo will gain end-to-end capability for launching celebrity and influencer-led LIVE commerce as a result of the acquisition, the value of which was not disclosed.
"We feel very strongly that mobile shopping and commerce is going to transform in many ways where there is going to be an interesting intersection of creators, content, and commerce, which will come together...the acquisition will allow us to leverage their (Shop101) entire e-commerce technology and do this globally eventually on Glance and Roposo," says, Piyush Shah, Co-Founder of InMobi Group, and Glance President and COO.
Apart from advertising, it will be a significant source of revenue for InMobi, he added.
While Shah declined to comment on the size of the transaction, he said that the 100% stake acquisition in Shop101 will be a mix of cash and equity and that "this is the first major deployment of the funds raised in December."
Glance delivers personalised content powered by artificial intelligence to smartphones' screen zero.
When a Glance user wakes up their phone, their lock screen is updated with new visual and interactive content that is tailored to them. It has over 125 million daily active users who spend an average of 25 minutes per day on the platform.
Roposo has over 33 million monthly active users who spend an average of 22 minutes per day on the platform. The platform has approximately 3 million monthly active creators.
According to Shah, the live, influencer commerce model has seen tremendous success in China, accounting for approximately 20% of total e-commerce sales.
"Even though it is still in an early phase in India now, the total addressable market for LIVE and interactive commerce in the country is expected to surpass USD 40 billion by 2025...This will be the second most important pillar for monetising Glance and Roposo beyond advertising.
“As we go global, expand and start monetising, this (commerce) will be almost half of our potential revenues in the next 3-5 years," he added.
According to Shah, the entire Shop101 team, including the founders, will join Glance and Roposo and power Glance's e-commerce efforts.
“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 CEO Abhinav Jain said.
Shop101, founded in 2015 by Abhinav Jain, Aditya Gupta, and Kalpak Chhajed, is a full-stack e-commerce company with a network of 10 million resellers and 10,000 supplier partners that serves customers in over 2,000 towns across the country.
Glance and Roposo will gain end-to-end capability for launching celebrity and influencer-led LIVE commerce as a result of the acquisition, the value of which was not disclosed.
"We feel very strongly that mobile shopping and commerce is going to transform in many ways where there is going to be an interesting intersection of creators, content, and commerce, which will come together...the acquisition will allow us to leverage their (Shop101) entire e-commerce technology and do this globally eventually on Glance and Roposo," says, Piyush Shah, Co-Founder of InMobi Group, and Glance President and COO.
Apart from advertising, it will be a significant source of revenue for InMobi, he added.
While Shah declined to comment on the size of the transaction, he said that the 100% stake acquisition in Shop101 will be a mix of cash and equity and that "this is the first major deployment of the funds raised in December."
Glance delivers personalised content powered by artificial intelligence to smartphones' screen zero.
When a Glance user wakes up their phone, their lock screen is updated with new visual and interactive content that is tailored to them. It has over 125 million daily active users who spend an average of 25 minutes per day on the platform.
Roposo has over 33 million monthly active users who spend an average of 22 minutes per day on the platform. The platform has approximately 3 million monthly active creators.
According to Shah, the live, influencer commerce model has seen tremendous success in China, accounting for approximately 20% of total e-commerce sales.
"Even though it is still in an early phase in India now, the total addressable market for LIVE and interactive commerce in the country is expected to surpass USD 40 billion by 2025...This will be the second most important pillar for monetising Glance and Roposo beyond advertising.
“As we go global, expand and start monetising, this (commerce) will be almost half of our potential revenues in the next 3-5 years," he added.
According to Shah, the entire Shop101 team, including the founders, will join Glance and Roposo and power Glance's e-commerce efforts.
“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 CEO Abhinav Jain said.
Shop101, founded in 2015 by Abhinav Jain, Aditya Gupta, and Kalpak Chhajed, is a full-stack e-commerce company with a network of 10 million resellers and 10,000 supplier partners that serves customers in over 2,000 towns across the country.
