Amazon India has acquired women-focused social commerce startup GlowRoad in an all-cash deal.
The company has not disclosed the details of this acquisition. With this acquisition, Amazon is taking the so-called social commerce space where sellers use platforms like WhatsApp and Facebook to sell their goods.
Bangalore-based GlowRoad was founded in June 2017 by Kunal Sinha, Nilesh Padariya, Nitesh Pant, Shekhar Sahu, and Sonal Verma, It lets users resell products (from 100+ categories) directly from manufacturers and wholesalers with the power of social networks.
“As we are at the early stage, we look forward to working with Amazon to make the online shopping experience more convenient and trusted for new-to-e-commerce customers, and unlocking greater value for sellers and resellers,” said, Kunal Sinha, co-founder of Glowroad.
GlowRoad claims to have over six million resellers and is present in over 2,000 cities across in India.
“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. Together with Glowroad, Amazon will help accelerate entrepreneurship among millions of creators, homemakers, students, and small sellers from across the country, “said, an Amazon spokesperson.
“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,” he added.
Following this acquisition, GlowRoad’s team of approximately 170 employees will join Amazon and the entity will continue to operate as an independent entity for now.
According to Startup Data Platform, Tracxn Glowroad has raised a total of more than $31 million in funding since its inception.
They are the makers of the most loved reseller app in India. GlowRoad is providing millions of individuals including housewives and graduate students a platform to start their own online business and earn money with joy and pride.
GlowRoad – one of the fastest growing social commerce startup in India. GlowRoad lets users resell products (from 100+ categories) directly from manufacturers and wholesalers with the power of social networks. They truly believe in the potential of Digital India, with their majority of users being homemakers from Tier II, III and IV cities. The platform hosts 6mn+ resellers from 1000+ cities across India, and they are proud to empower 100000+ active women resellers in their platform. – Raised Series A funds from Accel in July 2017 – Raised Series B funds from Accel, CDH China, Korea Investment Partners, and Vertex in April 2019.