THE WHAT? MyGlamm has acquired digital lifestyle platform POPxo, according to a report published by LiveMint. Terms of the deal were not disclosed.
THE DETAILS The beauty products e-tailer will retain POPxo’s branding and continue to create content aimed at a female audience. Priyanka Gill, POPxo Founder and CEO will join MyGlamm’s board and take on the role of Co-founder, while the platform’s investors will join MyGlamm investors.
“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 two companies said in a statement, per LiveMint.
“With this acquisition, MyGlamm will further be able to connect with the millennial women [SIC], reach unchartered geographies, and work with POPxo in identifying emerging consumer needs and consumption patterns to co-create tomorrow’s beauty trends,” Darpan Sanghvi, Founder and CEO, MyGlamm told LiveMint.
THE WHY? The deal grants MyGlamm a foothold in the online content space – and, of course, a captive audience to market to.