GoodGlamm in talks to sell ScoopWhoop to WLDD

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Subscribe to enjoy similar stories. Indian meme marketing startup Wubba Lubba Dub Dub (WLDD) is in talks to acquire ScoopWhoop from troubled content-to-commerce firm Good Glamm Group. The proposed sale of ScoopWhoop comes a week after the Prosus-backed group sold back Sirona Hygiene to its founders.

The sale will help the cash-strapped group to meet some of its immediate payment obligations, two people with knowledge of the deal said. “WLDD has given a term sheet, and currently, due diligence is being carried out," the first person quoted above said. This time around, ScoopWhoop, which was acquired in 2021 by the Darpan Sanghvi-led group for ₹100 crore, is now being sold for ₹18-20 crore, the second person said.

This would help the company meet some of its payment obligations, including employee salaries and vendor payouts. The Good Glamm Group is also fighting litigation by the original founders of ScoopWhoop over non-payment of the promised payouts. This includes a second tranche of cash consideration and equity upside.

Last week, the founders of Sirona Hygiene bought back the company from Good Glamm just four months after its sale was finally completed. Good Glamm invested ₹100 crore in Sirona through primary and secondary investments in 2022. It concluded the acquisition of Sirona in October for ₹450 crore in an all-cash deal, ending a long-drawn dispute over non-payment of dues, Mint reported.