Roll-up ecommerce unicorn BRND.ME (formerly Mensa Brands) has sold MensXP’s parent entity India Lifestyle Network (ILN) to Kolkata-headquartered RPSG Group, people aware of the matter told Inc42 on the condition of anonymity.

As per sources, BRND.ME sold ILN for around $9 Mn in an all cash deal. This is an almost 85% drop in valuation from at the end of December.

ILN founded by Anagad Bhatia in 2017 runs MensXP – a men-focused platform that publishes content about lifestyle categories, iDiva – a women-focused platform that generates content in categories including beauty, fashion, health and wellness and lifestyle, among others, and HYPP – a full-stack creator management and marketing platform for digital influencers.

As per sources, the acquisition was completed in May this year, and the entirety of ILN has been absorbed by RPSG Group.

RPSG Group has integrated MensXP and iDiva to its online media platform – Hook.

The fresh development comes months after , to join Network18’s Firstpost and Creator18 as its chief executive officer.

Questionnaires sent to BRND.ME and RPSG Group didn’t elicit any response at the time of publishing the story.

As per sources, BRND.ME has been in talks to offload its stake in some of its acquired and invested businesses to raise capital, people aware of the matter told Inc42. Recently, a Mint report said that BRND.ME sold its stake in Renee Cosmetics. Besides, it has also sold its stakes in wearable maker Pebble back to its original founders.

Set up in 2021 by former Myntra CEO Anath Narayanan, BRND.ME mainly acquires digital-first startups and then scales them across sectors.

The ecommerce unicorn has raised over $300 Mn in total funding to date and counts the likes of Accel Partners, Prosus, Tiger Global, Norwest Venture Partners, Alpha Wave, Alteria Capital and InnoVen Capital among its backers.

On the financial front, BRND.ME’s in FY24 from INR 227.03 Cr in the previous fiscal year. Operating revenue rose 11.6% to INR 557.66 Cr during the year under review from INR 499.63 Cr in FY23.

The post appeared first on .