Online beauty brand MyGlamm has acquired women-centric content and influencer platform POPxo
MyGlamm has acquired digital media platform POPxo, which creates content for women. As part of the deal, MyGlamm will be owning all the shares of POPxo, with its CEO Priyanka Gill joining the beauty brand as a co-founder. While both brands will retain their identities, investors of POPxo, including Chiratae Ventures, Kalaari Capital, and Neoplux Venture Capital, will also join MyGlamm investors.
POPxo has over 43-million monthly active users across all platforms, with nearly 99 percent of users being organic. POPxo would continue to run as an independent platform with an expected Rs 4 crore revenue per month. Every month, the team creates over 1,500 stories, 80 videos resulting in users spending over 3 million hours consuming POPxo content.
Why did MyGlamm acquire POPxo?
As per an article on Inc42, MyGlamm and POPxo claim to have a community of nearly 50 Mn customers, primarily women. MyGlamm makes and sells beauty products across makeup, skincare and personal care. POPxo on the other hand, has built a steady audience for content consumption and claims to have a network of 75K influencers on its marketing platform Plixxo. The companies believe that both businesses will blend well to create a strong women-focused platform equipped with the 3Cs — content, community and commerce.
Insights from the founder of MyGlamm
Darpan Sanghvi, the founder of MyGlamm, believes that the company has been doing well in engagement during the ecommerce journey and post-purchase through content, but lacked when it came to getting women to discover their brand. The POPxo acquisition will help MyGlamm reach its target audience using content and turn them into meaningful customers. Sanghvi also claimed that this acquisition would help MyGlamm save up on nearly $4 Mn to $5 Mn in market costs annually.