Honasa Consumer Pvt Ltd, parent company of personal care brand Mamaearth and The Derma Co, has purchased the Momspresso content platform in an effort to expand its consumer engagement strategies, the company said in a statement on Friday. .
Although financial details of the deal were not disclosed by the two companies, Honasa Consumer said it will also buy MyMoney, Momspresso’s influencer engagement platform to improve marketing strategies. business content of the business. Boutique investment bank Four-S Services Pvt Ltd acted as exclusive advisor to Momspresso on the said transaction.
Momspresso will continue to operate independently after the acquisition, Honasa Consumer said. The founding team comprising Co-Founder, Managing Director Vishal Gupta, Co-Founder, Technical Director Asif Mohamed and Co-Founder, COO, Prashant Sinha, will continue to lead operations and manage the ‘business as an independent entity, the company says.
Momspresso will deploy the funds received through the acquisition, to enhance the team, build data science capacity and invest in technology to increase scale and efficiency, Honasa said.
Momspresso allows users to get information about products in industries such as beauty, health, fashion, lifestyle, pregnancy and children, the company said. The MyMoney platform, on the other hand, allows micro-influencers to engage with consumers in its economy, the company said.
Founded in 2010, Momspresso is a content platform for women, which together with MyMoney claims to have 60,000 content creators in 10 languages on its platform. The company also claims to have a community of 30 million women and over 2 million micro-influencers, who connect with 50 million users. Honasa Consumer will have access to all of this, the company said, through the acquisition.
With the takeover of Momspresso, Mamaearth or Honasa Consumer is banking on the content-to-commerce community, which has recently been one of the most in demand.
VCCircle announced earlier this week that The Good Glam Group, the parent company of MyGlamm, which has launched a wave of acquisitions, is in talks to invest in a men’s skincare brand, Ustraa.
The Good Glamm Group recently announced that it has invested Rs.100 crore in Sirona, a startup specializing in feminine hygiene products. The Good Glamm group had also acquired Miss Malini Entertainment, a celebrity and influencer media talent management network, for an undisclosed amount.