ET was the primary to report on September 20 that the content-to-commerce (C2C) firm deliberate to accumulate the Twinkle Khanna-founded agency.
This is Good Glamm Group’s twelfth acquisition in two years.
It acquired on-line content material platform POPxo in 2020 and made an additional 10 acquisitions final 12 months.
The acquisition of Tweak India, a women-focused multimedia platform throughout textual content, video, podcasts, radio, and occasion codecs with a deal with wellness, magnificence and an eco-friendly life-style, has been achieved with an goal to go deeper into the tier 1 demography, the corporate stated.
Following the acquisition, Tweak India can be housed underneath Good Media Co, led by Priyanka Gill.
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“Good Glamm Group has taken 51% in Tweak, and we are going to work together with Twinkle to grow the platform…if you look at Good Media Co, we have POPxo, which is very big with tier-2, tier-3 audiences, we have ScoopWhoop, which is a male audience, we have Miss Malini, which is a Bollywood audience, and BabyChakra, which is a parenting audience,” Good Glamm Group founder and CEO Darpan Sanghvi informed ET.
The firm didn’t disclose the dimensions of the deal.
Tweak India will operate underneath Good Glamm Group’s unit Good Media Co, and Khanna, a Bollywood actress, will proceed in her function as CEO of Tweak India and turn out to be a shareholder of the Good Glamm Group, it stated.
“The Good Glamm Group has many verticals which are in alignment with Tweak. They have a massive backend support system, influencer vertical, video support system, and it will be beneficial for Tweak to work with them,” Khanna informed ET.
Founded by Sanghvi, Gill and Naiyya Saggi, the Good Glamm Group has three divisions — The Good Brands Co, which has a portfolio of direct-to-consumer manufacturers; Good Media Co, and Good Creator Co, an influencer platform monitoring 1.5 million influencers.
Good Media Co generates over 4 billion month-to-month impressions and has over 200 million distinctive customers, the corporate stated in an announcement.
The Good Glamm Group, backed by Prosus, has closed a sequence of acquisitions and raised back-to-back funding rounds amounting to Rs 1,885 crore final 12 months because it offered its C2C playbook to buyers.
The Mumbai-based firm, which was final valued at $1.2 billion, has been going through bother elevating new funding as late-stage financing dries up and buyers more and more steer clear from loss-making tech corporations, ET reported on September 6.
Going forward, Sanghvi and Gill stated the corporate was trying to purchase an offline FMCG model and a male grooming model subsequent 12 months.
“This year (2022), we have spent integrating everything we acquired last year. Everything we acquired had a strategic purpose. The strategic rationale for Tweak was very specific. It becomes a perfect platform for us to expand our 200 million MAUs that we have, with Tweak’s 15 million MAUs,” Sanghvi stated. “Next 12 months, we’re in search of an offline FMCG model, so that each one the merchandise that we create discover offline distribution as effectively.”