Good Glamm Group in talks to sell ScoopWhoop

New Delhi: The Good Glamm Group is in talks to sell the content platform ScoopWhoop to Wubba Lubba Dub Dub, a meme marketing company, according to news reports.

According to a LiveMint report, ScoopWhoop was acquired in 2021 for Rs 100 crore but will now be sold for Rs 18-20 crore.

The acquisition was intended to bolster Good Glamm’s Good Media Co. division, which includes other platforms like POPxo, MissMalini, and BabyChakra, to drive traffic to its direct-to-consumer (D2C) beauty and personal care brands.

According to industry insiders, WLDD, founded in 2018 by Arihant Jain, Vivekanand Kilari, and Jaidev Kesti, has submitted a term sheet, and due diligence is currently underway. The marketing startup, which boasts clients like JioHotstar, Rapido, and Flipkart, aims to expand its footprint in the digital content space with this acquisition.

According to the news reports, the acquisition will help Good Glamm fulfil its payment obligations as it faces trouble with employee salaries and continues lay-offs.

The news reports state that the founders of ScoopWhoop have entered into a legal battle with the company over non-payment of dues. 

Three board members from Accel, Bessemer Venture Partners, and Prosus Ventures have also resigned from the company.

Just last week, the company sold Sirona Hygiene back to its original founders for ₹150 crore—four months after acquiring it for Rs 450 crore in an all-cash deal.

Good Glamm is likely to restructure the company but with shareholders backing off, the company will raise capital at an extremely low valuation.

The Good Glamm Group manages brands like MyGlamm, The Moms Co, St. Botanica, Organic Harvest, along with digital media companies such as POPxo, ScoopWhoop, MissMalini, Baby Chakra and Tweak.