Good Glamm Group’s online parenting platform BabyChakra has acquired Bengaluru-based healthcare and parenting network Tinystep in an all cash deal. With this deal, Tinystep will merge its social as well as content assets with BabyChakra’s existing platform. “Tinystep has about 40,000 pieces of content and about five million social follower base across nine different languages. This gives us an immediate headstart of about two years in terms of having relevant content and social presence in the regional space,” Naiyya Saggi, co-founder, Good Glamm Group and founder and CEO, BabyChakra, told BrandWagon Online. Saggi, however, did not disclose the financial details of the deal.
BabyChakra claims to have a reach of over 39 million moms and 10,000 doctors. Furthermore, it claims to have more than seven million pieces of user generated content created by mothers and doctors on the platform. The parenting platform has also earmarked Rs 100 crore to further build the content to commerce platform over the next three years. By the end of 2022, it aims to reach 75 million moms.
According to the company, there has been a higher engagement from regional audiences on the platform. As per Saggi, the regional reach of Tinystep’s digital and social assets will help BabyChakra reach out to a newer user base, with deeper, more personalised care.
As for monetisation, the platform has launched its baby care product line across categories such as hygiene, skin care, bath and body, among others. It also earns revenue from advertising largely led by FMCG and pharmaceutical firms. “The journey of content to commerce for the group has defined us. With the kind of reach we have today, it’s an opportunity for us to introduce and enhance the consideration of our products with relevant audiences. While content has been a major play, we expect revenue to grow more from the product sales,” she added. The company is however yet to turn profitable.
The baby care products market in India is poised to grow by $10 billion during 2021-2025, progressing at a CAGR of over 14% during the forecast period.
For Saggi, the acquisition is in line with the previous acquisitions done by the Good Glamm Group. The Good Glamm Group has stacked up an array of beauty and personal care brands including MyGlamm, The Moms Co, St. Botanica, Sirona and Organic Harvest. In terms of content, it recently acquired Scoopwhoop and also runs other content platforms such as POPxo and BabyChakra. Good Glamm Group has also invested in the Good Creator Co. formed by the spinning off of its influencer companies – Plixxo, MissMalini, Winkl and Vidooly.
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