The Good Glamm Group completes sale of ScoopWhoop to WLDD

The Good Glamm Group has successfully sold its digital media unit ScoopWhoop to Wubba Lubba Dub Dub (WLDD), a marketing firm. According to the reports, the decision to sell ScoopWhoop was driven by the fact that the brand primarily caters to a male audience, which does not align with The Good Glamm Group's current focus on the beauty sector. 

According to a report by The Morning Context, the deal was valued at approximately Rs. 20 crore The agreement was reportedly signed nearly a week ago and took less than a month to materialise for both parties. Notably, the deal is an all-asset sale agreement, which means WLDD has acquired ScoopWhoop's intellectual property but 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 marketing firm, operates a creator marketing school in Bengaluru. The acquisition of ScoopWhoop is expected to enhance WLDD's capabilities in the digital media space.

This comes just a few days after The Good Glamm Group sold Sirona Hygiene back to its founders, Deep Bajaj and Mohit Bajaj. According to reports, the buyback was primarily funded by the cofounders' capital and included the repayment of debts incurred during Sirona's time under Good Glamm.

Good Glamm Group's struggles

As The Good Glamm Group navigates its financial restructuring, the sale of ScoopWhoop to WLDD marks a significant step in the company's efforts to streamline its operations and focus on its core business. The sale of ScoopWhoop is part of the group's broader financial restructuring as the company seeks to meet employee salary obligations and vendor payments. As part of its financial restructuring, GGG has also explored the sale of other assets, including The Moms Co., Organic Harvest, and digital media properties like Miss Malini, Bulbul, and PopXO.