The Good Glamm Group (GGG) CEO Darpan Sanghvi is starting up again, this time with an AI-native acceleration platform to support startups and MSMEs, coming nearly two months after announcing the dismantling of content-to-commerce unicorn.
In a LinkedIn post on September 4, Sanghvi shared that the venture named ‘CoFounder Circle’ will be a singular platform where entrepreneurs will get access to people (Co founders, team members, interns, and fractional operators), partners (service providers, suppliers, vendors), tools (AI-powered SaaS tools and agents), mentors / incubators, and investors.
Interestingly, Sanghvi said, “Nearly 50% of CoFounder Circle’s equity will belong to the community; from CoFounder Circle employees and the ecosystem on CoFounder Circle to ex-Good Glamm stakeholders and employees with vested ESOPs.”
“I have dreamt ambitious and done audacious in the past. This time if it clicks, this will not just be a meaningful business, but more importantly we will make a real impact to the whole entrepreneurial ecosystem,” Sanghvi said.
He added, “Generative AI is set to spawn a whole generation of new businesses while also turbo charging existing businesses. CoFounder Circle will be at that intersection of AI, business, capital and community.”
In July, GGG had announced dismantling its unified house-of-brands model citing deepening financial stress and unsuccessful restructuring attempts.
Moneycontrol was the first to report on the troubles brewing at the group in October last year, with the management putting three of its brands on sale amid rising debt.
Once valued at over $1 billion, GGG had been struggling under the weight of its high cash burn and debt obligations to lenders including Stride Ventures, Trifecta, Alteria Capital, Oxyzo, and credit lines from HDFC and HSBC.
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