ShareChat acquires Elanic to enter into the social commerce

Bangalore based vernacular content platform ShareChat has now revealed that it has acquired the Bangalore based online fashion marketplace Elanic. After the acquisition deal, the employees of Elanic’s will join the ShareChat.

The acquistion will help ShareChat to get much more insights and expertise on the eCommerce trends and consumer preferences. ShareChat is also looking to use Elanic’s social commerce, offering future product development.

Elanic is a peer to peer marketplace for lifestyle and fashion products. It enables users to showcase and sell their pre-owned fashion products. The startup, as of now, handles pick up, packaging, delivery as well as payments.

Elanic has more than 5 million downloads with close to around one million active listings.

“The Elanic team brings with them deep insights and expertise in understanding commerce trends and consumer preferences across India. ShareChat hopes to leverage this in areas of content delivery and social commerce and positively contribute to product advancement,” the spokesperson said.