Exclusive: MensXP Founder Angad Bhatia Quits Mensa Brands To Start New Venture

SUMMARY

India Lifestyle Network, which operates MensXP, iDiva, and Hypp, was acquired by Mensa Brands in 2022

Angad Bhatia is quitting to set up a creator-focussed alternative investment fund (AIF)

Earlier, Inc42 reported that ILN was looking to separate from Mensa Brands. However, the separation talks have been shelved for now

Angad Bhatia, the founder of India Lifestyle Network (ILN), is quitting the company to launch his own venture, sources said.

ILN, which operates MensXP, iDiva, and Hypp, was acquired by Mensa Brands in 2022. Bhatia plans to set up a creator-focussed alternative investment fund (AIF), the sources said.

The responsibilities of Bhatia will be delegated to other members in the ILN team, they added.

While Bhatia declined to comment on the development, a query mail sent to Mensa Brands didn’t elicit any response till the time of publishing this story.

The development comes almost three years after Mensa Brands acquired ILN in 2022 for about $100 Mn from Times Internet. Inc42 exclusively reported about the acquisition then.

The three brands under ILN have over 20 Mn social media followers, over 100 Mn monthly active users (MAUs), and garner over 250 Mn video views per month.

iDiva, incorporated in 2009, is a women-focussed platform that generates content across beauty, fashion, health and wellness, and lifestyle categories, among others. Delhi NCR-based Hypp is a full-stack creator management and marketing platform for digital influencers, while MensXP is a lifestyle portal for men.

The fresh development comes almost five months after Inc42 reported that ILN was looking to separate from Mensa Brands. However, sources aware of the matter told Inc42 that the separation talks have been shelved for now.

Mensa Brands, a house of brands startup, was founded in 2021 by former Myntra CEO Ananth Narayanan. It turned unicorn within six months of its inception, making it one of the fastest Indian startups to get the coveted tag. It acquires digital-first startups across sectors and then scales them. It counts brands like Dennis Lingo, Pebble Karagiri, among others, in its portfolio.

Mensa Brands counts Accel Partners, Prosus, Tiger Global, Alpha Wave, Norwest Ventures, CRED’s Kunal Shah, among others, as its backers.

Mensa Brands’ operating revenue rose 11.6% year-on-year to INR 557.6 Cr in the third quarter of the financial year 2024-25 (Q3 FY25), while net loss declined 31% to INR 155.8 Cr.