Meme marketing agency WLDD buys ScoopWhoop from The Good Glamm Group in all-cash deal
WLDD has acquired ScoopWhoop from The Good Glamm Group reportedly in an all-cash deal of Rs 20 crore.
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Meme marketing agency Wubba Lubba Dub Dub (WLDD) has acquired the media platform ScoopWhoop for an undisclosed amount. Arihant Jain, the CEO of WLDD, in a LinkedIn post wrote, "We are going to make it the most relevant new age publisher in the country and make it Genz friendly but millennial consumable!".
WLDD has acquired ScoopWhoop from The Good Glamm Group reportedly in an all-cash deal of Rs 20 crore.
Founded in 2018 by Arihant Jain, Vivekanand Kilari, and Jaidev Kesti, WLDD has clients such as JioHotstar, Rapido, Flipkart, ITC, etc.
In 2021, the personal care product company had acquired ScoopWhoop for Rs 100 crore. Since, The Good Glamm is undergoing a financial crisis, it is expecting to raise capital but at a very low valuation as the existing shareholders have backed off from participating. The Good Glamm has recently laid off staff and deferred salaries of several employees. Besides, three board members also departed from the company in the recent months.
The beleaguered company has also explored sales of various brands, such as, The Moms Co., Organic Harvest, as well as, media websites such as Miss Malini, Bulbul, and PopXO.
Earlier this month The Good Glamm let go of Sirona Hygiene to its original founders. The reacquisition deal will reportedly value Sirona between Rs 150-200 crore.
