The Good Glamm Group acquires talent management network MissMalini

The monetary phrases of the acquisition weren’t disclosed.

“With the acquisition of Baby Chakra and ScoopWhoop, we had bought maintain on the influencer group… however with MissMalini Leisure, we now have entry to the premium and superstar influencer community,” Darpan Sanghvi, cofounder and CEO of The Good Glamm Group instructed ET.

The direct-to-consumer model will make investments $10 million extra within the platform to assist develop its influencer base, which is able to ultimately play into the content-to-commerce conglomerate’s playbook, Sanghvi mentioned.

That is the
fifth acquisition by the group this year after The Mother’s Co, Child Chakra, ScoopWhoop and PopXo.

“Our giant consumer base and attain and the digital and go-to-market omnichannel capabilities, mixed with the data-driven buyer ahead insights, will assist our manufacturers develop throughout classes,” Sanghvi mentioned.

The Mumbai-based firm will proceed to perform independently, Sanghvi added.

Founder Malini Agarwal and cofounders Nowshad Rizwanullah (CEO) and Mike Melli (CRO) will proceed to guide the corporate, he mentioned.

“Each the Good Glamm Group and MissMalini share robust model synergies, widespread values and a joint imaginative and prescient to rework India’s burgeoning social commerce business, leveraging first mover benefits to create thrilling new alternatives throughout the nation’s creator economic system,” Agarwal mentioned.

Good Glamm raised $150 million in November from traders led by South Africa’s Prosus Ventures (beforehand Naspers) and personal fairness main Warburg Pincus.

The funding spherical catapulted the patron model into the rising tribe of Indian unicorns, or privately held startups with a valuation of $1 billion or extra. Good Glamm has a post-money valuation of $1.2 billion.

MissMalini’s 5 enterprise divisions, together with MissMalini Media (multi-format unique content material and advertising and marketing), Woman Tribe by MissMalini (ladies’s group platform), Ignite Edge (superstar and expertise administration), Agent M Inventive (inventive company) and MM Studios (video manufacturing home) with 60 million customers, will now be a part of the Group.

The corporate is clocking an annualised income run fee of $150 million.

“We’re anticipated to shut the monetary yr ending March 31, 2022, at $250 million in income,” Sanghvi mentioned.

New-age, digital-first private care and wonder manufacturers similar to Purplle, Sugar Cosmetics, Mamaearth and Plum Cosmetics have attracted the curiosity of danger traders whereas the most important participant, Nykaa, listed final month at a market capitalisation of greater than Rs 1 lakh crore.

The Covid-19 pandemic has boosted the enterprise of online-led manufacturers because it has hastened digital adoption by customers and led them to more and more purchase these merchandise.