Glance - which owns video-platform Roposo - has acquired Shop101, as the InMobi group firm looks to bolster its position in the influencer-led commerce space in the country.
The acquisition has provided an exit to early-stage backers of Shop101, namely, Kalaari Capital, Stellaris Venture Partners, Unilever Ventures Holdings, VY Capital, Ramakant Sharma and Raghunandan Gangappa.
The transaction also involved acquisition of shares in Glance by Kalaari Capital, Stellaris Venture Partners, Unilever Ventures Holdings and VY Capital.
Kochhar & Co. assisted Glance and the team was led by Senior Partner Abhilekh Verma and supported by Principal Associates Ajay G Prasad and Anuj Kaila.
The due diligence team comprised of Senior Associate Siddharth Santosh and Associates Megha Savanur and Puneet Abrol.
IndusLaw acted for Kalaari Capital, Stellaris Venture Partners, Unilever Ventures Holdings and O(1) holdings and the team was led by Partners Siddharth Manchanda and Minhaz Lokhandwala along with Associates Anushree Kacker and Rohit Jain.
Glance, a part of SoftBank-backed InMobi Group, had announced a USD 145 million (around ₹1,071.6 crore) investment round from Google and existing investor, Mithril Capital in December last year. With that, the total fundraise by Glance stood at USD 190 million, reported Mint.