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Layoffs, fund crunch, board exits: The many woes of the billion-dollar GoodGlamm Group
OutlookIndia
·
5m ago
Medial
The Good Glamm Group is facing severe financial challenges, including cash flow issues leading to delayed salary payments and mass layoffs. This has shaken investor confidence, resulting in significant board resignations. The company has undergone leadership changes and is considering selling some acquired brands to improve liquidity. Despite these setbacks, it aims to reach profitability by FY25, employing the Thrasio model to scale digital-first beauty and personal care brands through its content-to-commerce platform.
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Related News
Good Glamm Group Troubles: Employee Salaries Delayed for Second Month Amid Funding Woes
OutlookIndia
·
1m ago
Medial
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.
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Good Glamm’s Pay Delay: April Salaries, Layoff Dues on Hold Amid Fund Crunch
OutlookIndia
·
2m ago
Medial
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.
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Inside Good Glamm’s collapse: A timeline of how the crisis unfolded - The Economic Times
Economic Times
·
2d ago
Medial
The Good Glamm Group, once known for its aggressive content-to-commerce acquisitions, faces a sudden collapse as lenders enforce charges on its brands due to a cash crunch. Despite raising funds and acquiring multiple brands, financial issues forced it to sell off brands at losses and hindered operations. Key investor exits, legal disputes, and restructuring efforts marked its downfall. CEO Darpan Sanghvi plans transitional support and pledges financial contributions to settle dues and establish a restitution fund.
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Swiggy Ropes In Titan’s Suparna Mitra As Independent Director
Inc42
·
1y ago
Medial
Food delivery giant Swiggy has appointed Suparna Mitra as an independent director to its board. Mitra, the CEO of Titan Company Ltd's watches and wearables division, brings extensive experience in the retail industry. Her appointment comes as Swiggy prepares to list on the stock exchanges with an issue size of $1 billion. Mitra joins three other independent directors on Swiggy's board, bringing valuable insights and expertise to the company as it continues to grow. Swiggy has recently seen high-profile exits and is expected to undergo layoffs as part of a corporate realignment process.
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SoftBank posts profit in FY24 as global bets offset headwinds from Indian bets
YourStory
·
2m ago
Medial
SoftBank Group Corp reported a profit of 517.18 billion yen ($3.49 billion) for fiscal year ending March 2025, driven by gains from its Vision Fund I investments despite setbacks from Indian ventures like Swiggy, Ola Electric, and OYO. Although Vision Fund II faced challenges, SoftBank made significant exits from companies like DoorDash. Despite struggling Indian investments, SoftBank is focusing on AI, leading a $40 billion funding round for ChatGPT-maker OpenAI, highlighting its strategic shift.
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To hold on to three trophy assets, Multiples plans a $300-400 mn fund
Livemint
·
6m ago
Medial
Multiples, a private equity firm, plans to launch a $300-400 million continuation fund to remain invested in three portfolio companies: Vastu Housing Finance, APAC Financial Services, and Quantiphi. This initiative allows Multiples to prolong backing successful investments beyond the traditional fund cycle, providing an exit route for limited partners amidst a broader liquidity crunch. Continuation funds, gaining popularity, allow investors to stay with high-performing assets while ensuring returns and timing exits based on market conditions.
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JSW Cement backer Synergy Capital hits first close of $1 bn private credit fund
VCCircle
·
2m ago
Medial
Synergy Capital, led by Sudhir Maheshwari, marked the first close of its Asia-focused private credit fund, raising $715 million towards a $1 billion target. The Dubai-based firm, specializing in private equity, credit, and special situations, has prior success with a $1.2 billion deployment and $850 million through nine exits. The new fund will focus on industrial and infrastructure assets, aiming to deploy $400 million by year-end, including acquisitions from India’s GMR Group.
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Indian startups raised more than $11 Bn in 2023: Report
Entrackr
·
1y ago
Medial
Indian startups raised over $11 billion in funding in 2023, with 181 growth stage deals raising $8.8 billion and 656 early stage startups raising $2.5 billion. Despite a funding crunch, two startups achieved unicorn status, and more than 980 startups raised venture capital throughout the year. However, the number of deals and the total funding amount decreased compared to previous years. The report also highlights trends such as layoffs, shutdowns, and exits, and the dominance of Bengaluru in terms of funding.
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Good Glamm defers April salaries; former employees await final settlements
Economic Times
·
2m ago
Medial
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.
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Good Glamm in talks to sell MissMalini for Rs 4 crore amid cash crunch
Economic Times
·
3m ago
Medial
The Good Glamm Group is negotiating to sell MissMalini Entertainment to Creativefuel for Rs 4 crore amid financial difficulties. This includes transferring the domain and social media accounts but keeping its influencer division. Acquired in 2021 for around Rs 3 crore, MissMalini was part of broader asset distress sales by Good Glamm. Facing a liquidity crunch, the company has sold other assets below acquisition prices and experienced senior-level exits and financial struggles.
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