Meme marketing agency Wubba Lubba Dub Dub (WLDD) has acquired digital media platform ScoopWhoop from The Good Glamm Group in an all-cash deal reportedly valued at Rs 20 crore, according to The Morning Context.
WLDD CEO Arihant Jain announced the acquisition in a LinkedIn post, stating, “We are going to make it the most relevant new-age publisher in the country and make it Gen Z-friendly but millennial-consumable!” The deal marks a strategic move for WLDD, a seven-year-old digital marketing agency known for its work with brands like JioHotstar, Rapido, Flipkart, and ITC.
Good Glamm’s decision to sell
The Good Glamm Group, which originally acquired ScoopWhoop in 2021 for Rs 100 crore, decided to offload the platform as part of its ongoing financial restructuring. The company reportedly sought to divest ScoopWhoop due to its largely male audience, which does not align with Good Glamm’s core focus on the beauty and personal care sector.
The deal, finalised within a month, is structured as an all-asset sale, meaning WLDD has acquired ScoopWhoop’s intellectual property but not its liabilities, as per The Morning Context.
The sale of ScoopWhoop comes amid financial troubles for The Good Glamm Group, which has reportedly been struggling to raise capital at a favourable valuation. Existing investors have been reluctant to infuse fresh funds, leading the company to explore selling non-core assets to streamline operations and meet financial obligations, including employee salaries and vendor payments.
In recent months, the company has laid off staff, deferred salaries, and seen three board members resign. Additionally, it has reportedly considered selling other assets, including The Moms Co., Organic Harvest, and digital media brands like Miss Malini, Bulbul, and PopXO.
A series of divestments
Earlier this month, The Good Glamm Group also sold Sirona Hygiene back to its original founders, Deep Bajaj and Mohit Bajaj. The reacquisition deal reportedly valued Sirona between Rs 150-200 crore, with the buyback funded primarily by the co-founders’ capital and debt repayments.
With the sale of ScoopWhoop, Good Glamm continues to restructure its business, focusing on its core beauty and personal care operations while divesting digital media assets.