CURRENT AFFAIRS

Detailed explanation-1: -Bengaluru: Google’s YouTube has signed a definitive agreement to buy video shopping app simsim as it looks to help discover and buy products from Indian retailers. The terms of the acquisition were not disclosed.

Detailed explanation-2: -Shopify has partnered with YouTube to give merchants new ways to sell their products via video. The companies have launched YouTube Shopping with the aim of helping merchants and creators connect to consumers and build their businesses. It includes multiple features for engaging with YouTube users.

Detailed explanation-3: -Being a part of the YouTube and Google ecosystem furthers simsim in its mission. We cannot think of a better ecosystem in which to build simsim, in terms of technology, reach, creator networks and culture.

Detailed explanation-4: -The agreement between Google and YouTube came after YouTube presented three agreements with media companies in an attempt to avoid copyright-infringement lawsuits. YouTube planned to continue operating independently, with its co-founders and 68 employees working within Google.

Detailed explanation-5: -YouTube has acquired social commerce startup Simsim, the Google-owned firm said on Tuesday. Neither of the firms disclosed the terms of the deal, but two people with knowledge of the matter told TechCrunch the Indian startup was valued at more than $70 million.