Amazon-backed Good Glamm Group acquires 2 more startups, intends to invest ₹200 crore to boost influencer marketing
Good Glamm Grouphas decided to house its influencer marketingplatforms under the Good Creator Cobanner.
- The new entity includes Popxo’s
Plixxo, MissMalini, Vidooly and Winkl, which have a revenue run rate of ₹75 crore.
- The Good Glamm Group is a culmination of
MyGlamm, POPxo and BabyChakra.
The company already owns influence analytics platforms like Popxo’s Plixxo and MissMalini.
It has now announced the acquisition of two more brands — influencer marketing platform Winkl and online video analytics platform Vidooly — to be a key of its content-to-commerce strategy. The Good Glamm Group noted that Plixxo and Winkl have 250,000 influencers and reach out to 70+ million users on a monthly basis.
AdvertisementThe Good Creator Co aims to make ₹250 crore by end of this year
The Good Creator Co will offer content creators and influencers access to the brand campaigns, extensive monetization opportunities, as well as affiliate and creator commerce programmes, celebrity talent management services and more through the app.
The latest entity currently has a revenue run rate of ₹75 crore and is targeting a ₹250 crore revenue run rate by December 2022.
MyGlamm’s chief executive and founder Darpan Sanghvi believes that having content businesses like these would help the direct to consumer brands housed under ‘The Good Glamm Group’ banner get access to more customers as well as get a well-established marketing mechanism.
Good Glamm Group became a unicorn in 2 months
The Good Glamm Group — which came into existence only in September 2021 — is a culmination of three brands MyGlamm, POPxo and online parenting startup BabyChakra. The parent entity is also led by the founders of these three companies — Darpan Sanghvi, Priyanka Gill (POPxo) and Naiyya Saggi (BabyChakra).
Under the Good Glamm Group umbrella are beauty and personal care brands — MyGlamm, The Moms Co, St. Botanica and Sirona as well as content platforms such as POPxo, Scoopwhoop and BabyChakra.
The company was valued at $1 billion in November 2021, when it raised $150 million in funding in its Series D round.
The Series D round was led by investors Prosus Ventures (Naspers), Warburg Pincus along the participation from Alteria Capital. Existing investors such as L’Occitane, Bessemer Venture Partners,
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