Honasa Consumer Pvt Ltd (HCPL) on Friday said it has acquired female-oriented content platform Momspresso and associated influencer-engagement platform Momspresso MyMoney for an undisclosed amount.
HCPL is the parent company of Mamaearth and The Derma Co.
With the acquisition, Momspresso and MyMoney will provide HCPL with a platform to connect with 60,000 content-creators in 10 languages, an engaged community of 30 million women, and over 2 lakh micro-influencers connected to 50 million consumers.
This will enable HCPL to directly connect with creators, communities, and consumers, according to a statement.
Post acquisition, Momspresso will continue to function independently and the founding team with CEO Vishal Gupta, CTO Asif Mohamed and COO Prashant Sinha, will continue to lead the operations and manage the business as an independent entity. All three of them are also co-founders of the company.
Momspresso will deploy the funds received through the acquisition towards enhancing the team, building data-science capability and investing in technology to drive scale and efficiencies.
The acquisition will further strengthen their data driven, digital-first marketing approach and accelerate engagement with consumers to further strengthen content-to-commerce, the statement said.
The experience of the founding team and capabilities of the platform show immense potential in expanding a content platform that supports consumers in making informed decisions through high quality, user-generated content in beauty, health, fashion, lifestyle, pregnancy, motherhood and kids, it added.
Momspresso also runs MyMoney, a platform for micro-influencers to engage with consumers in the new-age economy. Founded in 2010, Momspresso has emerged as one of India’s largest and most engaged community of women.
“We have experienced exponential growth due to our constant connect with community and consumers and the partnership with Momspresso will further scale up our creator network,” HCPL co-founder and CEO Varun Alagh said.
Momspresso co-founder and CEO Vishal Gupta said, “together, we are uniquely positioned to unlock synergies in creating a compelling content to commerce playbook”.