Good Glamm Group, the Beauty and personal care and content-to-commerce startup, has announced the acquisition of MissMalini Entertainment, the celebrity and influencer talent management platform in a cash and stock deal. The acquisition’s financial details were not disclosed by the companies.
The acquisition is intended to provide Good Glamm Group with unprecedented access to a strong network of celebrities, influencers, and market know-how in order to significantly expand its content-to-commerce operation in the country. Following the acquisition, MissMalini Entertainment will continue to operate independently in terms of content and will contribute its experience to the Good Glamm Group.
Darpan Sanghvi, CEO at Good Glamm Group, commenting on the acquisition said, “We have admired MissMalini over the years. They were the first movers in the Influencer space, are the leading digital voice on Bollywood and the Girl Tribe is turning into a highly engaged and relevant community. We see all these elements and expertise as highly valuable pieces in the ambitious Content to Commerce disruption we are creating in India.”
MissMalini, founded in 2008 by Malini Agarwal, is among India’s first lifestyle blogging networks. It is an entertainment, fashion, and lifestyle weblog with over 10 million readers and followers. Girl Tribe, MissMalini’s proprietary networking platform, has over 100,000 members and is constantly growing. MissMalini Entertainment is a ‘positive-only’ new media network with a monthly audience of more than 60 million.
Moreover, the acquisition is projected to facilitate Good Glamm Group to cross-sell its direct-to-consumer (D2C) product offering to Miss Malini’s user base, which includes cosmetics brand MyGlamm, baby products brand Baby Chakra, premium mom-and-baby brand MomsCo, and personal care brand St. Botanica.
The content-to-commerce startup is anticipated to expand its reach and acquire access to celebrities and macro-influencers currently that it has access to Agent M Creative and MM Studios. Plixxo, an influencer management platform with close to 220,000 influencers on board, is also owned by the Good Glamm Group.
This acquisition has also strengthened Good Glamm Group’s portfolio, which already includes some of India’s most well-known digital media companies, such as POPxo, ScoopWhoop, and BabyChakra. According to Good Glamm Group, its media venture now has over 3.5 billion monthly impressions and more than 150 million unique users in the country. The Good Glamm Group is actively preparing to introduce video-led commerce as a new offering in January 2022, the company is piloting the concept.
Malini Agarwal, founder at Miss Malini Entertainment in a statement said, “Becoming part of Good Glamm Group will be hugely beneficial for both parties, whether in terms of our massive, combined industry footprint or opening new avenues for growth in this digital-first world.”
The Good Glamm Group which owns the MyGlamm brand joined the elite unicorn club last month after securing $150 million in a Series D round of funding from Warburg Pincus and Prosus Ventures (Naspers), valuing the content-to commerce startup at $1.2 billion. The content-to-commerce company is now generating an annualized revenue run rate of $150 million across its different properties, with aims to increase this to $250 million by the end of FY’22.