GlobalBees, a unicorn based in Delhi, works with businesses to help them thrive, especially those on e-commerce platforms. To assist with the global operations of these brands, the company has implemented the Thrasio model. GlobalBees works with a carefully selected collection of brands in the beauty, home, personal care, nutrition and wellbeing, fashion jewelry, and eyewear industries. The company helps startups scale and trade on marketplaces and other platforms. The startup seeks potential businesses and collaborates with entrepreneurs who have built an internet footprint. The company specialises in Direct-to-Consumer (D2C) companies with exceptional customer intelligence.
Nitin Agarwal founded the business, which now collaborates with more than 12 digital firms. These companies now offer their goods and services both nationally and internationally.
Acquisition Methodology
The team collects data on digital brands and examines the revenue data of the company it wishes to acquire. When the company gains confidence in the first step through meetings and documentation, it starts negotiating payment terms and business terms and conditions with the founders. GlobalBees will leverage its expertise and cutting-edge tools and technology to expand the acquired businesses. It has a staff of experts who work closely with digital businesses to ensure their success.
The company has over 100 brands in its portfolio and earned a profit of $100 million on $500 million in revenue. Mensa Brands, 10Club, and GOAT Brand Labs are three Indian companies that have adopted the Thrasio strategy.
Founders
Deepak Khetan:CEO of Globalbees and Supam Maheshwari:Co-Founder and Chief Executive Officer at FirstCry
GlobalBees was established in 2021 by Deepak Khetan, Supam Maheshwari, and Nitin Agarwal.
GlobalBees acquired a majority stake in three companies in November: Healthyhey (a dietary supplement company), Rey Naturals (a hair care product company), and Intellilens. (an eyewear company). In the same month, GlobalBees added Yellow Chimes, a well-known fashion jewellery business, and Absorbia, an innovative home care company, to its portfolio.
GlobalBees intends to invest in approximately 30-35 companies spanning from various D2C categories to fast-moving consumer goods. (FMCG). This fiscal year, GlobalBees plans to invest in over 20 companies.
Investors and Funding
GlobalBees has raised a sum of $290.7 million. The company got a $110 million Series B investment on December 28, 2021. Premji Invest, an investment company owned by Indian entrepreneur Azim Premji, led the Series B financing round for the nine-month-old startup.
Growth
As the demand for online D2C companies grows, GlobalBees is rising to the occasion. It is the second Thrasio-style business to become a unicorn in 2021, following Mensa Brands. The company has a foothold in over 600 cities. In October 2020, just nine months after its start, the company earned Rs 1 crore per month. With operations in Delhi and Bangalore, the organisation has established assets and experience in marketing, technology, supply chain and logistics, product innovation, and other fields.
Future Plans
Globalbees currently has over 100 users. Furthermore, the business is in advanced talks with more than 20 companies to expand its portfolio of digital-first brands.
