The Good Glamm Group has efficiently offered its digital media unit ScoopWhoop to Wubba Lubba Dub Dub (WLDD), a advertising and marketing agency. In response to the stories, the choice to promote ScoopWhoop was pushed by the truth that the model primarily caters to a male viewers, which doesn’t align with The Good Glamm Group’s present give attention to the sweetness sector.
In response to a report by The Morning Context, the deal was valued at roughly Rs. 20 crore The settlement was reportedly signed almost every week in the past and took lower than a month to materialise for each events. Notably, the deal is an all-asset sale settlement, which implies WLDD has acquired ScoopWhoop’s mental property however has not taken on any of its liabilities.
The Good Glamm Group, had acquired ScoopWhoop in 2021 for Rs.100 crore. WLDD, a seven-year-old digital advertising and marketing agency, operates a creator advertising and marketing faculty in Bengaluru. The acquisition of ScoopWhoop is predicted to boost WLDD’s capabilities within the digital media house.
This comes just some days after The Good Glamm Group offered Sirona Hygiene again to its founders, Deep Bajaj and Mohit Bajaj. In response to stories, the buyback was primarily funded by the cofounders’ capital and included the compensation of money owed incurred throughout Sirona’s time below Good Glamm.
Good Glamm Group’s struggles
As The Good Glamm Group navigates its monetary restructuring, the sale of ScoopWhoop to WLDD marks a big step within the firm’s efforts to streamline its operations and give attention to its core enterprise. The sale of ScoopWhoop is a part of the group’s broader monetary restructuring as the corporate seeks to satisfy worker wage obligations and vendor funds. As a part of its monetary restructuring, GGG has additionally explored the sale of different property, together with The Mothers Co., Natural Harvest, and digital media properties like Miss Malini, Bulbul, and PopXO.
Written with the View : afaqs