InvestorQ : Can you tell about the recent deal by Nykaa to acquire Little Black Book?
Khushi Patel made post

Can you tell about the recent deal by Nykaa to acquire Little Black Book?

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Dhwani Mehta answered.
2 months ago
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Online fashion retailer Nykaa, the digital marketplace floated by former Kotak honcho Falguni Nayar, agreed to acquire Little Black Book (LBB), a digital guide. The consideration has not been disclosed, but it is an all-cash deal. LBB is backed by Blume Ventures, Chiratae and Dream Incubator. The acquisition of LittleBlack Book is in sync with the content-first approach adopted by Nykaa. The deal is expected to completed in all respects over the next 60 days. Nykaa is among the most valuable digital plays in India.

Little Black Book was founded by Suchita Salwan and Dhruv Mathur in 2015. It predominantly focuses on audience engagement through content and discovery. As per last reports, LBB is reported to have about 70 million users and had posted revenues of Rs19.5 crore for the fiscal year FY21. With its strong ecommerce platform, its omnichannel reach and its content heavy offerings; Nykaa will be looking at LBB for more focused and fine tuned customer engagement.

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