Sep 19, 2024

India Lifestyle Network (ILN), which runs MensXP, iDiva, and Hypp, is looking to separate from its parent Mensa Brands, sources told Inc42. ILN founder Angad Bhatia is in talks with VC and PE firms to buy out Mensa’s stake in ILN. Mensa currently holds 100% stake in ILN. Confirming the development, Bhatia told Inc42, “… Mensa and ILN have been approached by a few strategic investors given the interest in new-age media and the assets ILN has built. Both ILN and Mensa are excited and considering these options, and are also now in discussions with other stakeholders in the larger content and media ecosystem.” ILN wants to operate as a separate entity as it believes that Mensa’s growth priorities don’t align completely with ILN’s, the sources said, adding that Mensa is unable to provide the capital required for ILN’s growth. “Once the separation is complete, ILN will run independently and continue to raise capital to grow further,” one of the sources said. Bhatia further told Inc42, “Given the strategic interest from multiple players we will explore what makes sense. ⁠Both ILN & Mensa teams are excited about aligning with an institution that supports its growth ambitions while maintaining synergies with Mensa.” RECOMMENDED FOR yOU 19th September, 2024 MensXP, a lifestyle portal for men founded in 2009, plans to foray into offering educational courses as an independent entity. Besides, it is likely to restart its influencer-commerce business, which it shut down after its acquisition by Mensa. Responding to this, Bhatia said, “Both MensXP and iDiva have established scaled audience platforms, tightly knit communities, and video shows tapping into social culture. This forms the foundation for their commerce initiatives. You may recall that MensXP previously built a large ecommerce footprint across beauty, fashion, and more before its acquisition by Mensa. There’s strong conviction around rebuilding ILN’s commerce ambitions with fresh formats.” The three brands under ILN have amassed over 20 Mn social media followers, over 100 Mn monthly active users (MAUs), and over 250 Mn video views since their inception. iDiva, incorporated in 2009, is a women-focussed platform that generates content across beauty, fashion, health and wellness, and lifestyle categories, among others. Delhi NCR-based Hypp is a full-stack creator management and marketing platform for digital influencers. On the other hand, Mensa was founded in 2021 by former Myntra CEO Ananth Narayanan. It is a house of brands unicorn that acquires digital-first startups across sectors and then scales them. Its cap table includes Accel Partners, Prosus, Tiger Global, Alpha Wave, Norwest Ventures, CRED’s Kunal Shah, among others. Mensa has raised over $300 Mn in funding till date and was one of the fastest startups to achieve the unicorn status. Mensa has acquired brands such as Pebble, Karagiri, MensXP, and iDiva, Dennis Lingo, among others, till date.