Content-to-commerce firm Good Glamm Group has acquired two more startups, Winkl and Vidooly, in the influencer management space for an undisclosed amount. It has also created a new entity, Good Creator Co (GCC) for all the influencer and creator platforms under its umbrella including Plixxo and MissMalini besides these newly acquired companies.
Good Glamm has also invested Rs 200 crore in the new entity. The funds will be used to further build out its technology platform, and acquire and invest in complementary influencer companies and technology solutions.
GCC will function independently and will also look to raise further rounds of capital from external investors.
"Collectively when you looked at all the assets we have within the GoodGlamm Group, it made sense to put all the creator assets and spin them off into a new entity called the New Creators Co. The reason was twofold -- one is that that we really wanted to play at the level of the $10 billion opportunity, that is influencer marketing segment. Second is we wanted to give Good Creator Co its own product technology roadmap to build and scale for creators," Priyanka Gill, co-founder, Good Glamm Group and Founder and CEO, Plixxo told Moneycontrol in an interaction.
GCC will offer content creators and influencers access to the brand campaigns, monetisation opportunities, as well as affiliate and creator commerce programmes, celebrity talent management services among other things. Through the GCC app, influencers will be able to showcase their work and network with one another. It will also offer full-stack influencer marketing and services solutions to consumer brands and media agencies.
GCC is targeting Rs 250 crore revenue run rate by December 2022. It has 250,000 influencers and reaches out to 70 million users every month.
The entity will be run by eight co-founders -- Malini Agarwal, Nowshad Rizwanullah, Mike Melli, Rahul Singh, Nikhil Kumar, Subrat Kar, Nishant Radia and Ajay Mishra.
Agarwal, Rizwanullah and Melli are from MissMalini, the company which recently got acquired by Good Glamm. On the other hand, Singh and Kumar are the founders of Winkl and Kar, Radia and Mishra are from Vidooly.
“In today’s world, data alone doesn’t do it. It's the journey of translating data into information into insights into knowledge. This partnership will address a lot of pain points in the online video and influencer marketing space, related to performance and KPIs," said Radia.
"This aligns perfectly with Winkl’s original vision of empowering millions of creators to become large brands in themselves and helping them become financially independent,” said Singh.Valued at over $1.2 billion, the Good Glamm Group is backed by marquee investors such as Warburg Pincus, Prosus Ventures, Bessemer Venture Partners and Accel, among others.