The content-to-commerce unicorn acquired the stake in Tweak India in a cash and stock deal
Good Glamm said that Tweak India will give it a deeper access to the Tier-1 demographic and help enhance its content-creator-commerce play
As part of the deal, Tweak India will join Good Glamm, while its founder Twinkle Khanna will continue to lead the startup and also become a shareholder of the unicorn
Content-to-commerce unicorn Good Glamm Group has acquired a 51% stake in actor Twinkle Khana’s women-focussed content platform Tweak India in a cash and stock deal. However, the unicorn didn’t disclose the exact numbers.
This is the fourth acquisition by Good Glamm this year. In January, the unicorn acquired a majority stake in beauty and personal care startup Organic Harvest. Following this, it bought influencer marketing platform Winkl and video analytics startup Vidooly.
Good Glamm said that the acquisition of Tweak India will give it a deeper access to the Tier-1 demographic and help enhance its content-creator-commerce play. Tweak India will further increase the group’s D2C capabilities, it said.
As part of the deal, Tweak India will join Good Glamm, while its founder and CEO Khanna will continue to lead the startup and also become a shareholder of Good Glamm.
Founded in 2019 by Khanna, the Mumbai-based startup is a women-focused community platform. It mainly focuses on three areas – wellness, beauty, and a sustainable and eco-friendly lifestyle.
“We have always admired Twinkle for her wit and grit and have been a big fan of her books – she is a brilliant author. Twinkle is the first celebrity in India to establish a deep connection with the Indian consumer through a scaled up, successful and profitable digital media company that she built in just under three years,” said Priyanka Gill, cofounder of Good Glamm and CEO of The Good Media Co.
Tweak India mainly targets Tier-1 females over the age of 25 years who have an interest in unconventional topics, relatable trends, pop culture, wellness and relationships.
“Initially, I thought it could be a TV show, but I’m not someone who enjoys being in front of the camera. I am happy being behind my desk, where I don’t have to think about whether my eyelashes are flying off on one side. So I started working on Tweak India actively. It took a year of work before we launched the website but I suppose it takes that much time to put all the pieces of this puzzle together,” Khanna told Inc42.
Tweak earns its revenue from product collaborations, subscription boxes, book sales and YouTube channel.
The startup has a base of 6 Mn monthly active users and also records 15 Mn monthly impressions.
“This partnership with Good Glamm will help Tweak optimise its strengths. We will be getting back-end and tech support and it will help us build out our video vertical as well as make a leap into deeper penetration of the market,” Khanna added.
Post the acquisition, Tweak is aiming for a 2.5X growth in its revenue in the next 12-18 months.
Good Glamm Eyeing IPO
The Good Glam Group has three verticals – The Good Brands Co, which has a portfolio of D2C beauty and personal care brands; digital content platform The Good Media Co; and tech-enabled influencer platform The Good Creator Co.
Good Glamm has been on an acquisition spree over the last year or so, during which it has acquired seven startups.
Besides that, it also infused $13.5 Mn in feminine hygiene startup Sirona’s Series B funding round in 2021.
Good Glamm has also committed INR 100 Cr for international expansion. Moreover, it is also eyeing a public listing soon, Gill said without specifying any timeline.
“Over the next 3 months, various brands of the Group will launch in international markets with top retailers both online and offline ensuring the right focus is given to each brand globally with international revenue target of $150 Mn for the Group’s brands over the next 3 years,” Gill said on the future plans.
Good Glamm claims to be adding over 7 Lakh customers across its platforms every month.