🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

Good Glamm defers April salaries; former employees await final settlements

Economic Times

Economic Times · 3m ago

Good Glamm defers April salaries; former employees await final settlements

Good Glamm Group has delayed April salaries and is yet to settle dues for former employees due to a cash crunch as fundraising is pending. The Mumbai-based company has been selling or exploring the sale of various brands to maintain liquidity. This includes selling MissMalini Entertainment and digital media subsidiary ScoopWhoop. Formed in 2021, the company has seen multiple senior-level exits recently and last raised $30 million from existing investors.

1

Related News

Good Glamm, Nestle, Sahyadri Hospitals, 91Trucks in news

VCCircle

VCCircle · 3m ago

Good Glamm, Nestle, Sahyadri Hospitals, 91Trucks in news

Good Glamm Group, a beauty and content platform, postponed April salary payments and hasn't settled severance for laid-off employees, according to a media report. Employees were notified that April wages would be combined with May's salary by June, while final settlements were still pending.

Dunzo defers pending salaries for June-July to Feb 2024: Report

Inshorts · 1y ago

Dunzo defers pending salaries for June-July to Feb 2024: Report

Cash-strapped startup Dunzo has informed employees that it will pay the remaining salaries for June and July by February 2024, citing the current business situation. The payments will include an interest of 12% per annum based on the employee's service period. Former employees will receive payments for August and September salaries by January-February 2024 as part of the full and final settlement. Dunzo has been facing a severe liquidity crisis, resulting in salary delays, restructuring, and operational halts. The company is reportedly in talks with investors to raise funding.

Good Glamm Group Troubles: Employee Salaries Delayed for Second Month Amid Funding Woes

OutlookIndia

OutlookIndia · 2m ago

Good Glamm Group Troubles: Employee Salaries Delayed for Second Month Amid Funding Woes

Good Glamm Group is experiencing financial difficulties, leading to delayed salaries for April and May 2025. The company, which faces a cash crunch, missed funding expectations and seeks to raise capital at a reduced valuation. Employee payments, including those for former staff, are pending, causing financial strain. The situation has caused investor confidence to falter, leading to board resignations and leadership changes, casting doubt on the company's sustainability and growth.

Good Glamm’s Pay Delay: April Salaries, Layoff Dues on Hold Amid Fund Crunch

OutlookIndia

OutlookIndia · 3m ago

Good Glamm’s Pay Delay: April Salaries, Layoff Dues on Hold Amid Fund Crunch

Good Glamm Group is facing financial challenges, delaying salaries for April and dues for recently laid-off employees. The company, once valued at $1.2 billion, is experiencing severe cash flow issues, prompting layoffs of about 15% of its workforce and potential brand sales. Key leadership exits include co-founder Priyanka Gill and CFO Piyush Kalra, further destabilizing operations. The firm plans restructuring to regain profitability by FY25, amid lost investor confidence and board resignations.

Byju’s defers final settlements of laid off employees to November

Money Control

Money Control · 1y ago

Byju’s defers final settlements of laid off employees to November

Edtech giant Byju's has delayed the full and final settlements of laid-off employees from September to November due to a liquidity crunch and pending fundraise. The company had previously initiated a workforce reduction that affected nearly 1,000 employees. Byju's has informed the affected employees through an email about the delay and expects to disburse their outstanding payments by November 17. This comes as the company aims to repay lenders within six months and explores options to secure necessary funds, including the sale of assets like Great Learning and Epic.

Good Glamm receives legal notice from subsidiary Sirona’s investors

The Arc Web

The Arc Web · 1y ago

Good Glamm receives legal notice from subsidiary Sirona’s investors

Investor Indian Angel Network (IAN) has sent a notice of default to The Good Glamm Group, alleging that the company has failed to make its final payment obligations to the shareholders of women's hygiene brand Sirona. The Good Glamm Group acquired a majority stake in Sirona for Rs 100 crore in December 2021 but has not made the required payments to Sirona's shareholders, including employees. This development comes as The Good Glamm Group reportedly has payment dues of around Rs 150 crore across its acquisitions. The company is said to be in talks to restructure its payout terms into debt.

Byju’s misses deadline to pay final settlements of laid off employees again

Money Control

Money Control · 1y ago

Byju’s misses deadline to pay final settlements of laid off employees again

Edtech company Byju's has once again delayed the full and final settlements of laid-off employees, missing the November 17 deadline. Amid a liquidity crunch and pending lender repayments, the company has been grappling with financial difficulties. Out of the 48 former employees surveyed, 40 have reported not receiving their settlements as promised, while some who did receive the payment did not receive variable pay or incentives. Byju's claimed to be making payments in a phased manner on a weekly basis, but some employees are still awaiting their settlements from June and July.

Sirona founders near deal to buy back brand from Good Glamm

Inshorts · 6m ago

Sirona Hygiene founders Deep Bajaj and Mohit Bajaj are in the final stages of repurchasing the women's wellness brand from the Good Glamm Group. The move comes just months after Sirona was sold to Good Glamm. Under the buyback agreement, the Sirona founders will assume debt liabilities of ₹160-180 crore.

Accel, Prosus, Bessemer directors quit Good Glamm board amid cash crunch

Economic Times

Economic Times · 7m ago

Accel, Prosus, Bessemer directors quit Good Glamm board amid cash crunch

Representatives from Accel, Prosus Ventures, and Bessemer Venture Partners resigned from Good Glamm Group's board amid financial struggles. Anand Daniel, Vishal Gupta, and Gaurav Kothari left as independent directors, coinciding with the company's financial challenges, including delayed salaries and layoffs. Previously, Good Glamm raised $30 million for working capital but is now exploring strategic investment and divesting brands. The firm resolved legal disputes related to acquisitions and experienced multiple leadership exits recently.

WLDD in talks to acquire ScoopWhoop from The Good Glamm Group

Entrackr

Entrackr · 6m ago

WLDD in talks to acquire ScoopWhoop from The Good Glamm Group

Marketing company Wubba Lubba Dub Dub (WLDD) is in talks to acquire the digital media platform ScoopWhoop from The Good Glamm Group (GGG). Livemint, which first reported the development, stated that WLDD has issued a term sheet, and due diligence is currently in progress. The report also mentioned that The Good Glamm Group is planning to sell ScoopWhoop for Rs 18-20 crore. It’s worth noting that ScoopWhoop was acquired by The Good Glamm Group in a deal worth around Rs 100 crore in October 2021. The Good Glamm Group declined to comment on the story. Last week, Sirona repurchased its brand from The Good Glamm Group to operate independently. According to sources, the buyback occurred at a significantly lower price than the original acquisition deal. The Darpan Sanghvi-led company may allocate proceeds from selling its digital media vertical to cover salaries, vendor payouts, and other payment obligations. Over the past year, Good Glamm has struggled financially, experiencing salary delays and layoffs. Media reports indicate that the group is now negotiating a funding round at a substantially lower valuation. The Delhi-based firm became a unicorn in 2021 with a $250 million funding round. Since then, it has raised $30 million in a bridge round in March last year. Last month, The Good Glamm Group witnessed the exit of key representatives, including Anand Daniel (Accel Partners), Vishal Gupta (Bessemer), and Gaurav Kothari (Prosus Ventures), who resigned as independent directors. In January 2024, Priyanka Gill, co-founder of The Good Glamm Group, also decided to step down from her active role at the New Delhi-based company.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Just Months After Promotion, Open ...

Elon Musk’s xAI published hundred ...

Exclusive: Robotics startup Miko ...

Download the medial app to read full posts, comements and news.