Good Glamm Group, the parent company of direct-to-consumer (D2C) beauty and personal care brand MyGlamm, has acquired new-age media startup ScoopWhoop Media in an all-cash deal, said sources with direct knowledge of the transaction. Darpan Sanghvi, the cofounder and chief executive of Good Glamm Group, later confirmed the development to ET.
“This acquisition fits perfectly into our content-to-commerce playbook. Content is difficult to build, and this acquisition solves that,” Sanghvi told ET. “We are in talks with a few brands in the male grooming space to acquire and invest in them.” ScoopWhoop is the fourth big buyout for the group after The Moms Co, BabyChakra and content and commerce platform POPxo, which it acquired last year.
All investors, except Kalaari Capital, will exit Scoopwhoop. Kalaari will invest further in the Good Glamm Group, Sanghvi said.
Also, Read This: Mumbai Based Startup MyGlamm Raised INR 175 Crores From Amazon
Founded in 2013 by Sattvik Mishra, Rishi Pratim Mukherjee, and Sriparna Tikekar, ScoopWhoop will continue to work as an independent brand and media house within the Good Glamm Group. ScoopWhoop’s digital assets generate 1.5 billion monthly impressions and engage over 100 million users. More than 60% of ScoopWhoop users are men.
The company aims to create a larger “Unilever-style” umbrella of FMCG brands. “We are looking at making four to six acquisitions across categories such as Hygiene, Bath and Body, Skin, Hair and Naturals over the next 90-180 days,” Sanghvi told ET last month. It has earmarked $100 million in cash for such opportunities.
Last month, Good Glamm acquired D2C mother and baby care brand The Moms Co, valuing it at Rs 500 crore, making it the largest M&A deal in the buzzy beauty and personal care segment.
MyGlamm was founded in 2017 by Sanghvi and Gill. The company claims to be India’s fastest-growing D2C beauty brand, with a range of over 800 cruelty-free and vegan products across categories such as makeup, skincare, and personal care. It also has over 10,000 offline points of sale across 70 cities of India.
Also, Read This: D2C Brand Smytten Has Raised USD 6 million In Its Series A Round
