Good Glamm in talks to take over Twinkle Khanna's Tweak India
By Team Startupcity | Tuesday, 20 September 2022, 09:06 IST
The Good Glamm group is in talks to acquire a majority stake in a digital content firm founded by Bollywood actor Twinkle Khanna, according to people familiar with the development.
If the transaction of Tweak India goes through, it will be the 11th acquisition by the content-to-commerce company.
“It is a cash-plus-stock deal and it is in the final stages of documentation,” said a person in the know of the matter.
Tweak India is a female-focused multimedia platform across text, video, podcasts, radio, and event formats, with a focus on wellness, beauty, and an eco-friendly lifestyle.
Following the acquisition, Tweak India will be housed under Good Media Co, led by Priyanka Gill.
The group’s media arm comprises POPxo, ScoopWhoop, MissMalini, and Baby Chakra, all of which Good Glamm acquired between 2020 and 2021.
Khanna will continue to lead Tweak India as its CEO, the sources said.
“The current digital media platforms under Good Media Co have more than 65% audience in tier 2 and tier 3 cities whereas Tweak India has over 65% in tier 1 cities. This stake will help them double down on the tier 1 audience,” one person said.
Good Media gets revenue through brand advertising on its platform, driving affiliate sales, creating content, and running social media campaigns for brands.
Its clients include fashion portal Myntra, ecommerce platforms Amazon and Flipkart, and Wipro Consumer Care, among others.
“Good Media’s existing clients will be used for Tweak and Tweak’s client base will be cross-sold to Good Media,” the person added.
The Prosus-backed venture has closed a series of acquisitions and raised back-to-back funding rounds amounting to Rs 1,885 crore last year as it sold its content-to-commerce playbook to investors.
Founded by Darpan Sanghvi, Gill and Naiyya Saggi, the Good Glamm Group has three divisions: The Good Brands Co, which has a portfolio of direct-to-consumer brands; Good Media Co, and Good Creator Co, an influencer platform tracking 1.5 million influencers.
The Mumbai-based company, which was last valued at $1.2 billion, has been facing trouble raising new funding as late-stage financing dries up and investors increasingly steer clear from loss-making tech firms.
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