Good Glamm Sells ScoopWhoop to Meme Marketing Agency WLDD at Rs 18-20 Crores, a Fifth of its Purchase Price

Wubba Lubba Dub Dub (WLDD), an Indian meme marketing agency, has bought ScoopWhoop from troubled content-to-commerce brand Good Glamm Group. A week after the Prosus-backed company returned Sirona Hygiene to its founders, ScoopWhoop has been sold. 

A Tough Year for Good Glamm

The sale of ScoopWhoop comes at a difficult time for the Good Glamm Group. Its board members from VC companies Accel, Prosus Ventures, and Bessemer Venture Partners all resigned simultaneously last month. Additionally, it was reported that the business had not been able to pay employees' salaries on time.

Early last year, top executives started leaving the Good Glamm Group, raising suspicions of danger. Piyush Kalra, the company's chief financial officer, departed in March to become the finance head for Versuni, an appliance company. 

In February, Priyanka Gill, the founder of PopXO, who was named a cofounder when the Good Glamm Group bought her company, became a venture partner at Kalaari Capital, an investing firm. 

The company proceeded to fire 150 workers in April, which at the time accounted for 15% of its staff. The company let off another 150 workers in January of this year while also failing to pay several of its employees' pay cheques.

However, it appears that these acquisitions weren’t able to deliver the results that My Glamm had envisaged. As the company ran into trouble, it’s been looking to let go of the brands it had brought on.

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WLDD’s Acquisition of ScoopWhoop 

After days of speculation, Arihant Jain, CEO of Wubba Lubba Dub Dub (WLDD) announced through a LinkedIn post that WLDD has acquired ScoopWhoop from the GoodGlamm Group. 

CEO Arihant Jain’s post read as follows: 

“Wldd Just acquired Scoopwhoop! 

We are going to make it the most relevant new age publisher in the country and make it Genz-friendly but millennial consumable! 

Looking for folks with thoughts to make it big!”

ScoopWhoop was reportedly sold for Rs. 18-20 crore to the Bengaluru-based meme marketing agency. Back in 2021, The Good Glamm Group acquired ScoopWhoop for approximately Rs. 100 crore in an all-cash deal. And WLDD’s acquisition represents an 80% erosion in the value of ScoopWhoop in the last four years.

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