The Good Glamm Group’s investors Accel, Bessemer Venture Partners and Prosus have stepped down from the content-to-commerce unicorn’s board of directors, signalling mounting troubles for the startup.
This comes on the heels of reports on the startup silently laying off employees and deferring salaries for others in the beginning of 2025. Earlier Moneycontrol had exclusively reported that the startup has put at least three of its portfolio brands up for sale – Sirona, The Moms Co, Organic Harvest – to stay afloat.
In the latest development, Accel’s partner Anand Daniel, Bessemer Venture Partners' Vishal Gupta and Prosus’ principal Gaurav Kothari stepped down as independent directors of the startup in December.
This was first reported by The Morning Context.
“Good Glamm received term sheets for a new round of fund raising in December and is currently in the last stages of closing the same. We will not be making any comments until after the close of our fund raise,” a Good Glamm Group spokesperson said in a statement to Moneycontrol.
The Good Glamm Group was founded in 2021. While the individual companies were started back in 2015, The Good Glamm Group came together under CEO Darpan Sanghvi who founded D2C startup Myglamm in 2017. Other co-founders are Priyanka Gill founded digital media platform POPxo in 2013 and Naiyya Saggi founded online parenting startup BabyChakra in 2015.
The three brands came together and rebranded as The Good Glamm group in September 2021. Since then, the group has acquired a dozen brands, including ScoopWhoop, St. Botanica and several others.
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