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WLDD in talks to acquire ScoopWhoop from The Good Glamm Group

EntrackrEntrackr · 4m ago
WLDD in talks to acquire ScoopWhoop from The Good Glamm Group
Medial

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.

Sirona founders, IAN withdraw default notices against Good Glamm Group

LivemintLivemint · 9m ago
Sirona founders, IAN withdraw default notices against Good Glamm Group
Medial

- Good Glamm Group has completed the acquisition of women's wellness brand Sirona Hygiene for ₹450 crore ($60 million) in an all-cash deal. - Founders of Sirona Hygiene and investor IAN previously filed default notices against Good Glamm Group for non-payment of dues, but the notices have now been withdrawn after an agreement was reached for pending payments. - Good Glamm Group invested ₹100 crore in Sirona in 2022 and is said to have earned substantial returns for early investors. - Sirona has tripled its revenues in the past 24 months and recently acquired the direct-to-consumer brand Impower. - Good Glamm Group operates across multiple verticals and is backed by investors such as Warburg Pincus, Prosus Ventures, and Amazon.

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