The entertainment and lifestyle media space has been witnessing consolidation and Good Glamm Group appears to be at the forefront of driving this trend. After acquiring ScoopWhoop, the Prosus-backed company has acquired Bollywood and lifestyle content platform MissMalini.
MissMalini will continue to work as an independent entity under the Good Glamm Group, said the company in a press statement.
Overall, MissMalini will be the 5th acquisition by the group in the past 15 months. In August last year, it took over Popxo while Babychakra, The Mom Company and ScoopWhoop were acquired in 2021. The group had turned unicorn last month with a $150 million Series D financing round.
Founded in 2007, MissMalini was one of the early evangelists of the organised blogging space. It raised Rs 10.4 crore from Orios Ventures and New Enterprise Associate (NEA) in a pre-Series A round.
Unlike the majority of businesses, MissMalini had improved financial performance in the pandemic-hit last fiscal as its operating income jumped 98.3% to Rs 11.5 crore in FY21 from Rs 5.8 crore in the last fiscal (FY20). Despite an increase in expenses, it managed to cut down its losses by 12.3% to Rs 6.4 crore in FY21.
