The Good Glamm Group has now sold off all of the assets of male-centric content platform- ScoopWhoop to meme marketing agency- Wubba Lubba Dub Dub for a consideration of Rs 18-20 crores.
According to sources, this strategic move to sell off ScoopWhoop, a content platform which currently boasts a 70% male audience, comes at a time when the Darpan Sanghvi-led company is recalibrating its priorities and commitment to be a female-centric brand as it gears up for a potential fundraise to mitigate its liquidity woes.
The Good Glamm Group had acquired ScoopWhoop in 2021 at a valuation of Rs 100 crore to move the needle on bolstering its beauty and personal care verticals with its media brands to reach a diverse set of audiences. However, due to ScoopWhoop’s male-skewed readership, the company has now decided to sell its assets to WLDD as its audience no longer aligned with the Group’s overarching strategic vision.
Notably, this development comes days after Sirona Hygiene’s Co-Founders Mohit and Deep Bajaj also re-acquired the femtech company from The Good Glamm Group within six months of the Group announcing its complete acquisition.
As for WLDD, the acquisition is believed to further enhance the digital marketing agency’s content creation and distribution capabilities.
