Not long ago, the Good Glamm Group stood as one of India’s brightest startup stories. The company started with MyGlamm, a beauty brand, and then went on a massive buying spree. Within a short span, it bought companies like POPxo, BabyChakra, Sirona, The Moms Co., ScoopWhoop, St. Botanica, Organic Harvest, and even MissMalini. By 2021, investors valued Good Glamm at more than a billion dollars, making it a unicorn.
But this growth came at a heavy cost. Darpan Sanghvi, the founder and chief executive, believed that more acquisitions meant faster dominance in the beauty and content space. The group grew too quickly. It hired aggressively, spent heavily, and relied on constant funding rounds to stay ahead.
As the global funding environment tightened in 2023 and 2024, cracks began to show. The company struggled to integrate all its acquisitions. Different brands pulled in different directions. Debt piled up, and some employees complained about delayed salaries. The lenders finally stepped in. They forced the breakup of the group and started selling its brands one by one.
For Sanghvi, the fall of Good Glamm was not just a financial setback. It was personal. He admitted that he had built the company too fast and too big. In public letters and interviews, he spoke openly about the sleepless nights, the weight of failure, and the responsibility he felt toward his employees and investors. He even pledged to set aside part of his future income and equity to make restitution to those who suffered losses because of the collapse.
The Birth of CoFounder Circle
Now, only a few months later, Sanghvi has stepped back into the entrepreneurial arena. This time, he is not building another beauty brand. Instead, he has launched CoFounder Circle, an AI-native acceleration platform.
The new platform aims to help startups and small businesses get the people, tools, and capital they need to grow. Sanghvi explained that after the collapse of Good Glamm, he spent time mentoring younger entrepreneurs. These conversations reignited his sense of purpose. He said that every time he spoke with a founder and helped solve a problem, he felt alive again. That is when he realized his next chapter would not be about creating another consumer brand. It would be about creating an ecosystem where other founders can succeed.
What CoFounder Circle Offers
CoFounder Circle positions itself as more than a traditional accelerator. Sanghvi wants to make it AI-native from day one. The platform offers several services:
- Talent Access: Startups can connect with potential co-founders, team members, interns, and even part-time experts.
- Service Providers: Businesses can find trusted partners for marketing, legal, technology, and finance support.
- AI-Powered Tools: The platform integrates with software that helps automate tasks, analyze data, and make smarter decisions.
- Mentorship and Learning: Founders can join programs, attend workshops, and take part in Demo Days where they pitch to investors.
- Funding Support: CoFounder Circle helps businesses prepare for fundraising and connect with capital sources.
This mix of people, tools, and capital reflects Sanghvi’s belief that growth requires more than just money. Founders need networks, guidance, and technology that reduces wasted effort.
Equity with a Purpose
The most striking feature of CoFounder Circle is its equity structure. Sanghvi announced that he would give away nearly half of the company’s ownership to the community. This includes employees, mentors, partners, and even some former stakeholders of Good Glamm who held stock options that became worthless after the collapse.
This decision ties directly to his earlier pledge of restitution. Instead of keeping full control, Sanghvi wants to build a shared-ownership model. When the community succeeds, the company succeeds. By doing this, he hopes to rebuild trust and create a culture of fairness that contrasts with the criticism he faced during the Good Glamm years.
Lessons Learned from Good Glamm
The story of Good Glamm taught Sanghvi several hard lessons:
- Speed Kills: Rapid expansion can look glamorous, but it creates chaos if integration and discipline do not keep pace.
- Community Matters: Employees, partners, and investors must feel included and rewarded, not left behind when things go wrong.
- Sustainable Growth Wins: A business must grow at a pace that matches its ability to manage operations and cash flow.
With CoFounder Circle, he seems determined to apply these lessons. Instead of chasing valuations, he wants to focus on long-term impact. Instead of piling up debt, he wants to build a model where success spreads across many hands.
Why the Timing Works
The timing of CoFounder Circle’s launch is significant. Startups around the world are exploring how artificial intelligence can help them grow. Small businesses often lack the resources to hire large teams or buy expensive software. By combining AI tools with mentorship and funding, CoFounder Circle steps into a space where demand is high.
In India especially, micro, small, and medium enterprises (MSMEs) form the backbone of the economy. They contribute a large share of jobs and GDP but often lack structured support. A platform that provides them with networks, capital, and technology can make a meaningful difference.
Challenges Ahead
Despite the fresh energy, Sanghvi faces challenges. Many in the startup community still remember the Good Glamm collapse. Trust does not rebuild overnight. He will need to prove through actions, not just words, that CoFounder Circle operates differently.
Another challenge lies in execution. While AI sounds powerful, its use must stay practical. Founders will look for tools that actually solve their day-to-day problems, not just add complexity. Balancing technology with human mentorship will test the platform’s design.
Finally, the shared-equity model, though noble, could create governance issues. Sanghvi must ensure clear rules so that community members know their rights and responsibilities. Without clarity, shared ownership can lead to disputes.
A Story of Redemption
Darpan Sanghvi’s journey now stands as one of redemption. He built a unicorn, saw it collapse, admitted his mistakes, and chose to come back with humility. Instead of chasing the next flashy product, he is building a platform for others. His story shows that failure does not have to be the end. It can be the start of something new, wiser, and more meaningful.
Outlook for the Future
If CoFounder Circle delivers on its promise, it could become a model for how accelerators work in the AI era. Instead of focusing only on capital, it blends talent, tools, and networks. Instead of concentrating power in the hands of one founder, it spreads ownership across a community.
For Sanghvi, success this time will not just mean building a valuable company. It will mean restoring his reputation and proving that he can lead with empathy, discipline, and vision. For India’s startups and small businesses, CoFounder Circle could become the partner they need to navigate an uncertain but opportunity-rich future.
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