MyGlamm’s parent company, GoodGlamm Group, has acquired Scoop Whoop, marking its entry from content to commerce.

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Good Glam Group, the parent company of direct-to-consumer (D2C) beauty and personal care brand MyGlam, has acquired Delhi-based digital media and lifestyle content platform Scoop Whoop for full cash.

The financial details of the transaction have not been disclosed.

This also shows that the Gurgaon Group has forayed into the content-to-commerce segment of men’s grooming category. This year, we have already made several acquisitions, including e-commerce platform POPxo, influencer marketing platform Plixxo, BabyChakra and The Moms Co.

Good Glam Group plans to invest $1.5 billion in the men’s grooming category, saying it is building and buying a brand that manufactures men’s personal care products. For now, take advantage of the content-to-commerce capabilities to launch them online and offline across the country.

With this acquisition, Good Glam Group will generate a total of 3.5 billion impressions per month and will be able to attract over 150 million unique users through its media division. It will also help the Good Glam Group, which is looking to build a content-to-commerce platform for the fast-growing men’s grooming and personal care segment.

Founded by Satwik Mishra, Rishi Pratim Mukherjee and Sriparna Tikekar, the 8-year-old Scoop Whoop is known for creating lifestyle and pop culture content across online, mobile and social channels. Its digital assets generate 1 billion impressions per month and attract over 100 million users. Targeted at individuals aged 13-35, over 60% of users are male.

Following the acquisition, it will continue to function as an independent brand and media house within the Gurgaon Group. In addition, all investors except Kalaari Capital will liquidate ScoopWhoop and invest more in Kalaari Good Glam Group.

2020 and 2021 have been tough for the average joe, but the very mature Indian startup industry has continued to grow phenomenally over the years. It has received many criticisms over the past few months. Glam’s acquisition of Scoop Whoop is just one example of the inorganic growth in these endless opportunities.

MyGlamm’s parent company, GoodGlamm Group, has acquired Scoop Whoop, marking its entry from content to commerce.

Source Link MyGlamm’s parent company, GoodGlamm Group, has acquired Scoop Whoop, marking its entry from content to commerce.

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