Good Glam Group Buys Majority Stake In Twinkle Khanna’s Tweak India; The Actress Will Continue As CEO
December 7, 2022: On the acquisition, actress Twinkle Khanna said The Good Glam Group has several verticals that align with Tweak.
They have a huge backend support system, influencer vertical, video support system and working with them will be beneficial for Tweak.
Khanna will continue in his role as CEO of Tweak post acquisition. Content-to-commerce unicorn The Good Glam Group has bought 51 percent stake in actress Twinkle Khanna’s digital media company Tweak India in a cash and stock deal.
This is the company’s 12th takeover in a span of two years. The beauty and personal care conglomerate, which became a unicorn in November last year, acquired online content platform POPxo in 2020 and made 10 more acquisitions last year.
The Good Glam Group, which plans to launch an initial public offering (IPO) soon, said the acquisition of women-centric multimedia platform Tweak India across wellness, beauty and text, video, podcast, radio and event formats.
An eco-friendly lifestyle is aimed at reaching deeper into the Tier 1 demographic. After the takeover, Khanna’s Tweak India will be housed under Priyanka Gill-led Good Media Co.
Khanna will continue in his role as CEO of Tweak India while also becoming a shareholder of Good Glam Group.
“The Good Glam Group has many verticals that align with Tweak. They have a huge backend support system, influencer verticals, video support system and working with them will be beneficial for Tweak,” Khanna said. “We are going to work with Twinkle to develop the platform.
If you look at Good Media Who, we have POPxo, which is huge with tier-2, tier-3 audience, we have ScoopWhoop, which is a male audience, we have Miss Malini, which is a Bollywood audience and BabyChakra, which is a parenting audience,” company founder and CEO Darpan Sanghvi told The Economic Times.
The strategic rationale for the tweak was very specific. It has become a perfect platform for us to expand our 200 million MAUs that we have with Tweak’s 15 million MAUs,” Sanghvi said.
Founded by Sanghvi, Gill and Naiya Saggi, the company has three business verticals – The Good Brands Company, which has a portfolio of direct-to-consumer brands; Good Media Co, and Good Creator Co, an influencer platform that tracks 1.5 million influencers.
Over the past two years, Pross-backed Good Glam Group, apparently in the process of expansion, has completed a series of acquisitions and in 2021 is expected to reach Rs. 1,885 crore raised back-to-back funding rounds as it sold its C2C playbook to investors.
The Mumbai-based company was last valued at $1.2 billion. Meanwhile, according to Sanghvi and Gill, the IPO-bound company plans to takeover an offline FMCG brand and a male grooming brand next year.
“This year (2022), we have spent on consolidating everything we acquired last year. Everything we achieved had a strategic purpose,” Sanghvi said.
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