Honasa Consumer Pvt Ltd, parent company of personal care brand Mamaearth and The Derma Co, has bought content platform Momspresso in a bid to expand its consumer engagement strategies, the company said in a statement on Friday.
While 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 with a view to enhance the company’s content-to-commerce strategies. Boutique investment banking firm Four-S Services Pvt Ltd acted as exclusive advisor to Momspresso on the said transaction.
Momspresso will continue to function independently, post the acquisiton, Honasa Consumer said. The founding team including Co-founder, Chief Executive Officer Vishal Gupta, Co-founder, Chief Technical Officer Asif Mohamed and Co-founder, Chief Operating Officer, Prashant Sinha, will continue to lead the operations and manage the business as an independent entity, the company said.
Momspresso will deploy the funds received through the acquisition, towards enhancing the team, building data-science capability, and investing in technology to drive scale and efficiencies, Honasa said.
Momspresso enables users to get information on products in sectors like beauty, health, fashion, lifestyle, pregnancy, and kids, the company said. The MyMoney platform, meanwhile, enables micro-influencers to engage with consumers in its economy, the company said.
Founded in 2010, Momspresso is a female-oriented content platform, which along 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 lakh micro-influencers, which connect with 50 million users. Honasa Consumer will get access to all of this, the company said, through the acquisition.
With the acquisition of Momspresso, Mamaearth or Honasa Consumer is betting on the content-to-commerce community, which recently has been one of the most sought-after.
VCCircle reported earlier this week that The Good Glam Group, parent company of MyGlamm, which has been on an acquisition spree, is in talks to invest in a male grooming brand, Ustraa.
The Good Glamm Group recently announced it invested Rs 100 crore in Sirona, a startup that deals into feminine hygiene products. The Good Glamm Group had also acquired Miss Malini Entertainment, a celebrity media and influencer talent management network, for an undisclosed amount.