Entrepreneur

POPxo gets acquired by Mumbai-based beauty commerce platform MyGlamm


  • With the acquisition, POPxo’s investors Chiratae Ventures, Kalaari Capital, and Neoplux Venture Capital will join the board of MyGlamm.
  • Priyanka Gill, who founded POPxo, will also join MyGlamm as a co-founder.
  • The two companies are together hoping for an annualized revenue of ₹400 crore by December 2021.

Six-year-old POPxo, the online community startup for women, has been acquired by Mumbai-based direct to consumer beauty platform MyGlamm. With the acquisition, POPxo’s investors Chiratae Ventures, Kalaari Capital, and Neoplux Venture Capital will join the board of MyGlamm.

Priyanka Gill, who founded POPxo, will also join MyGlamm as a co-founder. “The POPxo vision has always been to build a content-community-commerce destination for women in India, with MyGlamm we have found a powerful partner with proven strengths in producing and selling beauty products at scale. Together we will leverage the power of content to meaningfully engage with and truly listen to our users to co-create products they really want,” said Gill.

The two companies are together hoping for an annualized revenue of ₹400 crore by December 2021.

Advertisement


MyGlamm has over 2000 points of sale, and claims to have grown by 400% in the last one year. Meanwhile, POPxo, which had grown to popularity for its online content for women and had also launched retail outlets in Delhi NCR, claims to have over 43 million monthly active users.

In September 2019, POPxo launched its private-label beauty collection for skin, bath, body and hair with 17 products.

The startup had last raised a funding of $5.5 million over two years ago from Neoplux (Doosan Group, Korea) and OPPO.

Advertisement



SEE ALSO:

Paytm is scaling up its lending operations – brings on board former Clix Capital CEO

From OYO to Upgrad to Zomato, employees get full salaries as startups begin reversing pay cuts

Advertisement




READ SOURCE

Leave a Reply