GOOD GLAMM: The story of cash tightening, fundraising and export of three directors

The three people realized this problem, and conducted serious cash tightening on a good GLAMM Group, forcing them to consider raising new funds with lower valuations to cause the export of their three directors because they considers their equity, and their equity, their equity, their equity, their equity, their equity, and their equity. The new round will eliminate their shares unwilling to bring more money.

Three directors from Accel India, Prosus and Bessemer Venture Partners resigned from the board of directors of Good Glamm in November and December.

Good GLAMM plans to raise funds with very low valuations, which will repair its upper limit table. The person quoted above says that some shareholders are not keen to participate in some shareholders. This is similar to the omni -channel pharmacy in the new era in 2020. At that time, it raised funds with a valuation of $ 500 million, which was lower than the early 5.6 billion US dollars. Earlier, Byju’s was worth $ 22 billion and tried to raise $ 200 million with a currency valuation of $ 250 million.

“They (excellent glorious investors) have tried everything, including finding buyers. Now, this is a function of risk rewards-it is meaningless to invest more money now.” One of the three said that this is meaningless. Essence -The “punishment” of existing investors will be “punitive”. The person added that the resigned directors were also worried that the reorganization of the potential impact on other investment portfolios, whether in terms of reputation and regulatory issues.

Detailed email asked the spokesperson of Accel India, Bessemer Venture Partners, Prosus and Warburg Pincus.

In March last year, as part of the rights issue, investors brought about 30 million US dollars, but business expansion did not eliminate as expected. This company directly facing consumers became unicorn in 2021 after raising funds from investors such as Prosus and Warburg Pincus.

The second person said: “The company has run out of money, and the initiator now hopes to raise further funds with nearly zero valuation, which will eliminate existing investors and its shares in the company.”

Good glory needs BleakThe second person said that 250-5 billion US dollars to solve the debt and payment of their suppliers, employees and founders of their acquisitions. “The direct requirement of keeping the lights is nearby nearby BleakThe person added: “At $ 18 billion and USD, the founder will do everything to make the company run, including selling control shares to any transmitted investor.”

Fast

In March 2024, the company raised a new investment plan of $ 30 million to these investors in March 2024. Only 12 months later. “This idea is to give the company a sufficient runway until it is profitable. However, because it is almost insufficient currency, and there is no continuous payment and profitability, the founder wants more money and investors refuse to withdraw.” The second person said.

Based on the second person quoted above, the company explored all the contents of the merger from large D2C companies to selling separate brands to raise funds in the past 12 months.

In response to MINT’s questions, a spokesman for an excellent GLAMM Group said: “Good Glamm has obtained a new round of fundraising activities in December, and is currently in the same stage. Any comments “”

The company has been seeking costs and cash burning in the past 24-36 months. The third person said that it has reduced the brand, the layout of the team, and reduced marketing efforts to save cash. Mint reported last year that beauty products and content companies Good Glamm Group have obtained expenditure in the market in the past year, withdrew discounts and fired employees to achieve profitability.

The startup founded by Darpan Sanghvi saw the loss of balloons Bleak23 FY 91.7 million, 150 % skipping Bleak222 fiscal year 362.5 million. The company’s operating income is standing Bleak23 FY 603 million, opposed Bleak222 fiscal year 211.4 million. It has not submitted its financial and finance.

Multiple vertical industries

Good luster runs in multiple vertical aspects. Good Brands Co., including beauty and personal nursing brands, such as MyGLAMM, ST Botanica, MOMS Co., Organic Harvest and SIRONA, and GOOD Media Co. Hakra, BabyChakra and Tweak India. Good Creator CO. acts as the influential platform with a good community.

The company saw a series of high -end exports last year. GOOD Brand Co. CEO Sukhleen Aneja joined Nykaa. The co -founder Naiyya Saggi retired and started its own new enterprise. The co -founder of the group’s media business Priyanka Gill stayed to join the early venture capital company Kalaari Capital.

In April, Mint reported that the founders of Sirona Hygiene and MOMS CO. and the Indian Angel Network (IAN) had acquired the GOOD GLAMM GROUP of the two companies in 2021, saying that GOOD GLAMM did not pay the final amount.

A few months later, Good Glamm Group said it completed the acquisition of Sirona Hygiene BleakUS $ 4.5 billion ($ 60 million) in all cash transactions. After signing an agreement with the founder of Sirlona and Ian, the legal notice was later withdrawn after the founder of Sirlona and Ian, which was later withdrawn to make a new timetable to pay for it.