Creativefuel acquires Miss Malini for Rs 6 Cr
According to the deal, Miss Malini's talent management vertical will continue to be operated by The Good Glamm Group, and the rest will be handed over to Creativefuel.
Marketing and content agency Creativefuel is acquiring the Good Glamm Group's portfolio company, MissMalini Entertainment, in a deal valued at Rs 6 crore.
As part of the deal, Creativefuel will take ownership of the MissMalini domain name and its social media assets, while the talent management vertical will continue to be operated by The Good Glamm Group.
In 2021, Miss Malini was acquired by the House of Brands player, which included verticals like MissMalini Media, Girl Tribe, Ignite Edge, Agent M, and MM Studios.
In February, the Darpan Sanghvi-led Good Glamm Group sold femtech startup Sirona back to its founders in a deal valued between Rs 150-180 crore.
The divestment comes as Good Glamm Group navigates liquidity crunches, investor departure, and mounting debts. The severe cash crunch has prompted the company to consider raising fresh funds at sharply lower valuations and sell its non-core units.
It also sold digital media subsidiary ScoopWhoop to Bengaluru-based WLDD at one-fifth of its purchase price. Along with that, the company is also looking to sell stake in personal care brands such as Organic Harvest and The Mom’s Co.
YourStory had reported in January that the company had delayed salary payments for December, with some employees receiving only partial payments. The content to commerce startup also saw three of its directors from Accel India, Prosus, and Bessemer Venture Partners exit the board.
Edited by Megha Reddy