Good Glamm sells digital media unit ScoopWhoop at fifth of its purchase price
Good Glamm Group, which is facing a cash crunch and is looking to raise capital at a significantly marked down valuation, has completed the sale of its digital media subsidiary, ScoopWhoop, to Bengaluru-based marketing agency WLDD, people in the know said.
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The sale, made at a valuation of Rs 18-20 crore, is only a fifth of the Rs 100 crore valuation at which Good Glamm Group acquired ScoopWhoop in 2021.
The Mumbai-based company was also looking to sell stake in personal care brands such as Organic Harvest, The Mom’s Co and content brands such as POPxo and MissMalini, but sources said it has now concluded the plans to sell any more brands.
Good Glamm did not respond to ET’s request for comment. WLDD founder and CEO Arihant Jain also did not respond to queries.
“The company had approached us to sell its stake in Organic Harvest, but the brand has liabilities of around Rs 60-70 crore, which did not make it a suitable asset,” said one of the potential buyers who was approached by Good Glamm.
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