Good Glamm Completes Sale Of Its Digital Media Unit ScoopWhoop To WLDD

The Good Glamm Group has completed sale of its digital media unit ScoopWhoop to marketing firm Wubba Lubba Dub Dub (WLDD), a source close to the matter confirmed Inc42.

“The rationale behind this is that The Good Glamm Group has not just sold the brand, but made a strategic decision. Good Glamm has always been focused on beauty, whereas ScoopWhoop primarily caters to a male audience, which does not align with the company’s current plans,” the source said.

Although the source did not disclose the financial transactions of the deal but according to a report by The Morning Context, the deal was pegged at INR 20 Cr and was signed nearly a week ago which took less than a month to materialise for both the parties.

The report further said that it is an all-asset sale agreement, which means WLDD has acquired ScoopWhoop’s intellectual property but has not taken on any of its liabilities. WLDD, a seven-year-old digital marketing firm, also operates a creator marketing school in Bengaluru.

This is the second sale by The Good Glamm Group in a week as it struggles with a cash crunch. 

In a separate report by ET, The Good Glamm Group was also looking to sell its stakes in personal care brands like Organic Harvest and The Mom’s Co, as well as content brands such as POPxo and MissMalini. 

However, sources told ET that the company has now decided against selling any more brands. The report also cited a potential buyer saying that the Good Glamm Group had explored selling its stake in Organic Harvest, but the brand’s liabilities of around INR 60-70 Cr made it an unattractive asset.

A few days back, the content-to-commerce unicorn sold Sirona Hygiene back to its original founders as the group looked to manage its financial obligations. Earlier, reports suggested that the buyback would primarily be funded by Sirona cofounders Deep Bajaj and Mohit Bajaj’s personal capital and would also include the repayment of debts incurred during Sirona’s time under Good Glamm.

These divestments come as Good Glamm faces a series of setbacks. In the past year, it was dousing fires on multiple fronts despite making claims of profitability, IPO plans, and global expansion. However, the reality appears far from its optimistic projections.

On January 29, representatives from investment firms Accel, Prosus Ventures, and Bessemer Venture Partners stepped down from the company’s board.

The Good Glamm Group was established in 2021 through the merger of Darpan Sanghvi’s MyGlamm (founded in 2017), Priyanka Gill’s POPxo (2013), and Naiyya Saggi’s BabyChakra (2015).