Bengaluru: Content-to-commerce unicorn, Good Glamm Group, previously known as MyGlamm has made its fifth acquisition this year and acquired celebrity media and influencer talent management network, Miss Malini Entertainment, as the former looks to enhance its content commerce strategy.
The cash and stock deal will give Good Glamm Group access to various business divisions of Miss Malini Entertainment including – original content and marketing platform, MissMalini Media; women community network, Girl Tribe; celebrity and talent management platform; Ignite Edge, as well as creative agency and video production house, Agent M Creative and MM Studios.
The company refused to share additional details on the deal size.
These digital assets are expected to increase Good Glamm Group’s reach by an additional 60 million monthly users. Miss Malini Entertainment will continue to function independently with founder and co-founders Malini Agarwal, Nowshad Rizwanullah and Mike Melli continuing to lead the company.
In addition, the acquisition is expected to help Good Glamm Group further cross-sell its direct-to-consumer (D2C) product portfolio including -- cosmetics brand MyGlamm, premium mom-and-baby brand MomsCo, and baby products brand Baby Chakra and personal care brand St. Botanica -- to Miss Malini's user base.
With access to Agent M Creative and MM Studios, the content-to-commerce unicorn is further expected to increase its reach and gain access to celebrity and macro-influencers. Currently, the Good Glamm Group also owns influencer management platform Plixxo, which claims to have close to 220,000 influencers onboard.
“Through the acquisition, we definitely get Malini’s insights, who has been the first influencer in many ways, the country has seen. Second, Miss Malini Entertainment also provides a very different context than the publishing assets we have through POPxo, BabyChakra and ScoopWhoop. Hence, it helps us increase not just reach but the frequency for users to interact further with the Good Glamm universe,” said Darpan Sanghvi, founder and chief executive officer (CEO), Good Glamm Group, in an interview with Mint.
“On the influencer front, we were not present in the macro and celebrity influencer space, which now we add through the acquisition of Miss Malini’s assets,” said Sanghvi.
Sanghvi added that with the Miss Malini acquisition there will be crossover of content across its various publishing platforms.
Earlier in October, this year, the Good Glamm Group acquired Delhi-based digital media and lifestyle content platform ScoopWhoop for an undisclosed amount. It had earlier acquired BabyChakra; The Moms Co., and St. Botanica, this year. The company had also acquired POPxo in August 2020.
By December-end, the Good Glamm Group is expected to have spent close to ₹2000 crore in acquisitions (through cash and stock), in 2021 alone, Sanghvi told Mint.
“All our platforms including our creative and talent agency merge beautifully with the larger good Glamm Group and its sister companies. As Miss Malini we will also have the opportunity to leverage the resources which the Good Glamm Group has, to help us grow. [...] Now being a part of the larger group, we want to also give back to the creator economy and enable them to become the biggest champions for themselves,” said Malini Agarwal, founder of Miss Malini Entertainment.
Currently, the Good Glamm Group is also looking to launch video-led commerce as a new offering in January 2022, and running pilots around the same.
Across its various properties, the content-to-commerce company is currently registering an annualised revenue run rate worth $150 million and plans to scale this number to $250 million by the end of FY’22.
Last month, the Good Glamm Group, raised $150 million in a Series D funding round led by Prosus Ventures (Naspers) and Warburg Pincus, valuing the company at $1.2 billion, marking its entry into India’s rapidly growing unicorn club. The Group is now looking to hit the public markets in 2023.
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