Diversified entity ITC has acquired a 10.07 percent stake in Blupin Technologies Pvt Ltd for up to Rs 39.34 crore. The investment will provide ITC an early mover advantage in the evolving content-to-community-to-commerce space and will provide an expanded presence in the D2C space.
Blupin Technologies is a web and app-based content-to-community-to-commerce platform and offers mother and baby care products and services under the brand name Mylo.
ITC said, “The Company has acquired today, i.e. on 28th May, 2022, 400 equity shares of 10/- each and 2,980 Compulsorily Convertible Cumulative Participating Preference Shares of 100/- each of Blupin Technologies Private Limited, representing 10.07% of its share capital on a fully diluted basis.”
The company said that this investment will provide the company with an early mover advantage in the evolving Content-to-Community-to-Commerce space, which is expected to emerge as a platform of the future.
Mylo, is a full-stack community eco-system focused on the parenting journey of young families. Mylo addresses the needs of its consumers through a wide and relevant range of content, health tools, conversations, and community sharing features. Beyond personalised content and an active community, Mylo also offers its users direct-to-consumer (D2C) personal care brands.
