▸ Priyanka Gill, founder and CEO, POPxo will join the board of MyGlamm and will be designated as the co-founder
▸ Investors of POPxo, including Chiratae Ventures, Kalaari Capital, and Neoplux Venture Capital, will also join MyGlamm investors
Mumbai, Maharashtra-based beauty products retailer, MyGlamm has reportedly acquired the popular women-centric content platform POPxo. Post-acquisition, Priyanka Gill, the founder & CEO of POPxo will join the board of MyGlamm and will be designated as the co-founder.
POPxo’s investors including Chiratae Ventures, Kalaari Capital, and Neoplux Venture Capital will join MyGlamm’s existing investors. POPxo will keep retaining its brand and will continue to create women-centred content.
The strategic acquisition of POPxo by MyGlamm will let both the companies to work together, launch and market new products in the beauty and lifestyle space.
In a joint statement, both the companies quoted,
“Together (MyGlamm and POPxo) represent a community of over 50 million women, have produced and sold millions of beauty products across makeup, skincare, and personal care and have over 45,000 influencers on their platforms,”
Founded in 2017 by Darpan Sanghvi, MyGlamm sells a range of MyGlamm-branded beauty and make-up products such as body lotions, eye shadows, sheet masks, and lip colors. It retails the products both online and offline with over 2,000 point of sales across 50 cities in the country. The company has raised $32 million until now, across different funding rounds from Trifecta Capital Advisors, Bessemer Venture Partners, L’Occitane en Provence and more.
Speaking of the development, Darpan Sanghvi, Founder & CEO, MyGlamm in a statement quoted,
“With this acquisition, MyGlamm will further be able to connect with the millennial women, reach uncharted geographies, and work with POPxo in identifying emerging consumer needs & consumption patterns to co-create tomorrow’s beauty trends. Currently, POPxo has over 43 million monthly active users across all platforms.”
Delhi-based POPxo was founded by Priyanka Gill in 2013 as an online community for Indian women. The platform deals in everything from fashion, beauty, lifestyle, work and more. According to Crunchbase, the company has raised $12.4 million across various funding rounds from 500 Startups, Chiratae Ventures, Kalaari Capital, STRIVE, Neoplux, and Oppo.