Darpan Sanghvi, the founder whose Good Glamm Group has been dismantled after lenders enforced charges on individual brands, on Thursday, September 4 launched CoFounder Circle, an AI-native acceleration platform for startups and MSMEs.
Sanghvi said nearly 50% of the venture’s equity will be reserved for the community, including employees, ecosystem partners and former Good Glamm stakeholders.
The platform is billed as an end-to-end marketplace for company building. Entrepreneurs will be able to find co-founders, hires, interns, fractional operators, service providers and vendors, access AI-powered software tools, participate in mentor networks, incubators and investor demo days, and tap support services related to early-stage growth. Sanghvi said interested founders can join a waitlist for early access.
Sanghvi framed the equity allocation as part of a broader restitution effort. In his LinkedIn post he acknowledged Good Glamm’s collapse and said the community allocation, plus previous commitments (including directing a share of future personal earnings toward settling employee claims), reflect an attempt to make amends to people harmed by the company’s failure.
Background
Good Glamm, founded as MyGlamm in 2017 and later rebranded as The Good Glamm Group, pursued an aggressive content-to-commerce roll-up strategy, acquiring brands such as POPxo and BabyChakra.
The group raised hundreds of millions during the boom years but later ran into financial strain; lenders have since enforced charges and the group is undergoing brand-by-brand sales and restructuring. Sanghvi said those experiences, “I was the founder of a company that scaled and then failed.”, motivated his new venture.
Sanghvi argued generative AI will spawn new businesses and turbo-charge existing ones, and that an AI-first acceleration stack can dramatically lower the cost and time of building companies. He described CoFounder Circle as operating “at the intersection of AI, business, capital and community”, positioning it as both an accelerator and a living network equity vehicle.
Early Reaction
The initiative opens a waitlist and will roll out incubation and investor showcase opportunities to members. Sanghvi did not disclose the platform’s funding or governance details beyond the community equity earmark. Market observers will watch whether CoFounder Circle can attract credible operators, deliver meaningful restitution to impacted stakeholders, and translate Sanghvi’s pledge into legally enforceable commitments as Good Glamm’s brand sales and creditor settlements continue.
CoFounder Circle is Darpan Sanghvi’s public attempt at a second act, combining AI tooling with a community equity model while tying the launch to a personal restitution narrative after the high-profile unraveling of Good Glamm. The venture’s success will depend on execution, investor support and how transparently Sanghvi converts promises into outcomes for former employees and creditors.
