The problems just don’t seem to be getting any better for The Good Glamm Group.
Marketing agency Wubba Lubba Dub Dub (WLDD) is looking to acquire digital media platform ScoopWhoop from GGG per Entrackr.
The deal is expected to be valued at ₹18-20 crore, just a fraction of what GGG originally paid for the digital media platform. WLDD has apparently already issued a term sheet, and due diligence is underway.
Context: this potential sale is the latest sign of turbulence for GGG. Just last week, Sirona, a menstrual hygiene brand, walked away from the group, repurchasing its brand after filing a default notice over unpaid dues.
Some backstory: ScoopWhoop, once a go-to digital content platform for young Indians, was acquired by GGG in 2021 for ₹100 crore.
But as the media business proved harder to monetize, and GGG faced cash flow challenges, selling off ScoopWhoop is now part of a larger effort to stabilize operations.
The sale proceeds are expected to go toward meeting salary commitments and settling financial obligations.
Bottomline: things are not looking ‘good’ for GGG’s and ScoopWhoop’s sale is just another sign of its tough road ahead.
The company has been battling salary delays, layoffs, and key leadership departures, raising serious questions about its financial health.
Big picture: at its peak, GGG was a rising content-to-commerce unicorn, securing a $250 million funding round in 2021. But with a funding crunch and valuation markdowns looming, the company is scrambling to restructure.
