The Quick Call: The story behind WLDD's acquisition of ScoopWhoop

In an unexpected yet strategically aggressive move, WLDD acquired ScoopWhoop in a deal. In the latest episode of Social Samosa’s The Quick Call by CEO Hitesh Rajwani, we caught up with Arihant Jain, CEO of WLDD, to get an inside look at how the acquisition unfolded and what it means for the future of ScoopWhoop.

Jain revealed that his interest in ScoopWhoop began nearly three years ago when it was initially acquired by Good Glamm Group. Recognising its strong content potential, he reached out multiple times to offer WLDD’s expertise in content creation. However, it wasn’t until Good Glamm showed signs of divesting ScoopWhoop that the agency saw an opportunity to make a move.

Jain shared that when they saw reports about Good Glamm possibly selling, they immediately contacted DoneDeals, a platform for buying and selling companies.

With prior acquisition experience on the platform, WLDD was already in touch with its founder, Rohit. However, the competition was intense; three other players had also expressed interest in acquiring ScoopWhoop that very day.

He noted that this was the first time the agency were taking on a deal beyond their expectations in terms of numbers and value. But they were confident that we were the right people to run ScoopWhoop.

Within 20 minutes of their first call with Good Glamm promoters, the agency had finalised the transaction’s intent, numbers, and timeline. The exclusivity agreement was signed within 24 hours, and the term sheet followed in 72 hours. By the third week, due diligence was completed, and by the fourth week, the acquisition was officially closed.

WLDD’s motivation for acquiring ScoopWhoop was fueled by a combination of nostalgia and strategic expansion. Jain and his co-founders had grown up watching ScoopWhoop’s YouTube content, from SW Cafe to OK Tested and its unscripted shows.

Further, Jain shared how WLDD will be revitalising ScoopWhoop to develop a Gen Z-focused news app, aiming to create a more engaging alternative to traditional news platforms. To get the full scoop, listen to the latest episode below.