Shop101 to be part of InMobi Group of Companies

Glance has announced its plans to acquire Shop101. It is part of the InMobi group’s strategic move to reinforce itself as an influencer-led commerce space. Glance was founded in 2016 by Naveen Tewari as a subsidiary of the InMobi group. Shop101 is Glance’s second acquisition. Its first acquisition was that of the video-sharing social media platform named Roposo.

The acquisition would benefit both groups. It would aid Shop101’s business growth by expanding its customer base to include that of Glance. At the same time, it would provide Glance and Roposo access to the supply chain infrastructure, e-commerce technology platform and raw talent necessary for creating celebrity and influencer-driven platform for commerce.

A glance had raised almost $145 million in funding from Google and Mithril Capital, a global investment company and had collaborated with the unicorn startup club.

Shop101 has around 10,000 supplier partners with a reach of two thousand locations in the country and almost ten million resellers. Glance has more than 125 million daily active users spending an average of 25 minutes a day on the platform.

Roposo, with almost 33 million active monthly users, offers content related to several genres over ten languages. Its official app has been downloaded more than 100 million times on Google Play, according to a statement provided by the company.

Shop101 is a start-up that enables users to become entrepreneurs and make a profit. It is a social commerce platform where people like homemakers and students can make money by reselling items that are already listed by verified suppliers in the marketplace. It was founded in 2015 and since then the platform has hosted almost 10,000 suppliers and more than 90 lakh resellers.

The official announcement regarding the acquisition mentioned that the transactions will be done through cash and equity.