E-commerce giant Amazon has acquired social commerce platform GlowRoad, which is backed by venture capital firms such as Accel and Vertex Ventures, a person familiar with the development told VCCircle.
The transaction involves an all cash deal and has paved the way for the exit of the investors, the person said without providing further details.
The acquisition relaunches Amazon in the social commerce space, putting it in direct competition with its rival Flipkart’s social commerce app Shopsy, and Meesho.
Earlier, Amazon had launched its social commerce platform, Spark, in India in 2018 after a year it rolled out in the US. However, it…