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Wellness products platform Nykaa to acquire social commerce startup LBB
Publicly listed beauty and wellness products e-commerce firm Nykaa is to acquire 100% stake in Iluminar Media Pvt Ltd, which operates lifestyle products discovery platform, Little Black Book (LBB). The deal is an all cash one. LBB, co-founded by Suchita Salwan and Dhruv Mathur in 2015, has evolved from a Tumblr-blog to an online, curated marketplace. LBB claims to reach over 70 million users across its various channels. It reported a revenue of INR 19.44 crore for FY22.
From the Venture Intelligence PE-VC Deal Database: Between Jul- 2015 and Dec-20, LBB had raised over INR 57 Cr from Athera Venture Partners, IAN Fund, Blume Ventures, Chiratae Ventures, AET Fund, IAN Fund, Dream Incubator, Blume Ventures, Outbox Ventures, others. LBB's angel investors include Indian Angel Network, Rajan Anandan, Sachin Bhatia and Singapore Angel Network. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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