Indian beauty products retailer MyGlamm acquires POPxo

Photo: Pixabay

Beauty products retailer MyGlamm has acquired women-centric digital platform POPxo, to expand into the online content space.

Post acquisition, POPxo’s existing investors—Chiratae Ventures, Kalaari Capital, and Neoplux Venture Capital will join MyGlamm’s existing investors that include Bessemer Venture Partners, L’Occitane, Mankekar Family Office, and Tano Capital LLC.

Priyanka Gill, founder and CEO, POPxo will join the board of MyGlamm and will be designated as the co-founder.

Post acquisition, POPxo will retain its brand and continue to create women-centric content across platforms.

The acquisition will help MyGlamm and POPxo co-create, launch and market products in the beauty and lifestyle category, the two companies said in a statement to the press.

“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,” the statement added.

In 2019, MyGlamm raised 100 crore in a round led by Bessemer Venture Partners, valuing the company then at 500 crore.

The beauty and cosmetics market in India has seen a boom in recent years, as exposure to social media trends, affluence among India’s young and accessibility to new-age brands has helped expand demand for both local and foreign brands.

At the same time, beauty-centric content on social media platforms, such as Instagram, and video-sharing platform—YouTube has seen a surge with trending tutorials by beauty influencers and make-up artists.

This article was first published on livemint.com.

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.