The Good Glamm Group has announced the acquisition of 51 per cent in Tweak India, a digital media company founded by Twinkle Khanna, in a cash and stock deal.
This will help Good Glamm Group to further enhance its content-creator-commerce strategy via Tweak's content which engages the tier-1 demographic, said a joint statement. Post this acquisition, Mumbai-based Tweak India will function under Good Media Co-led by Priyanka Gill, co-founder, Good Glamm Group, and CEO, Good Media Co.
While "Tweak India's founder & CEO Twinkle Khanna will continue in her role and will also become a shareholder of the Good Glamm Group," it said. The Good Media Co comprises digital media platforms, including POPxo, ScoopWhoop, BabyChakra and MissMalini Entertainment.
"When combined together this gives Good Glamm Group access to diverse audiences across tier-1, tier-2 and tier-3 cities. The Good Media Co now generates over 4 billion monthly impressions and has over 200 million unique users. This digital reach is amongst the largest for any e-commerce or digital media company in India," it said.
‘Excited to partner’
Commenting on the development, Good Glamm Group Group, Founder & CEO, Darpan Sanghvi said, "We are excited to partner with the author and entrepreneur Twinkle to further take Tweak India to new heights and bolster the Good Glamm Group's Content-Creator-Commerce strategy."
Twinkle Khanna said, "This strategic partnership will give Tweak India a cohesive platform to grow and optimise our strengths. In building a scalable business, one must always be ready to take the next leap and I am positive that the merger with the Good Glamm Group will help me pull off a Produnova with three perfect somersaults and ensure that we all land firmly on our feet."