New Delhi, October 4, 2016 - Leading experiences, activities and rewards platform, Nreach Online Services Pvt. Ltd., said today that it has signed an agreement of investment with India’s largest leisure hospitality provider, Mahindra Holidays.
The strategic decision to acquire a 12 per cent stake in the Bengaluru based company which runs two brands, namely, Giftxoxo.com & Frogo.in, comes as a move to expand Mahindra Holiday’s offerings and increase their reach to over 2 lakh Club Mahindra members. The company, however, has not yet disclosed any financial details of the stake acquisition.
Abhishek Kumar_Manoj Agarwal_Kushal Agarwal_Sumit Khandelwal
Abhishek Kumar_Sumit Khandelwal_Kushal Agarwal_Manoj Agarwal
Commenting on the development, Sumit Khandelwal, Co-Founder, Giftxoxo & Frogo said, “We are excited to partner with Mahindra Holidays to create and expand experience as a business in India and globally. Our strength and understanding of experience business coupled with strong brand name of Mahindra group will help us create a strong supply of curated experiences, build a robust and scalable technology platform and provide value to end customers. The vision of Giftxoxo to improve the lives of individuals with experiences and activities matches strongly with the business of Mahindra Holidays. We believe that this will create immense value for both entities and expand the outlook of leisure beyond movies, malls & restaurants.”
“We have built a fundamental business based on a strong value proposition to all our stakeholders. This philosophy matches with Mahindra group’s ideals of creating a sustainable value business. We want to leverage this partnership and reach greater heights of business in India and abroad. I would like to thank Dinesh Rai, MD, Premoid Global Capital Advisors Pvt. Ltd., our financial advisor and Crawford Bayley & Co., our legal advisor for this partnership. I would also like to thank my family, friends, the entire team at Giftxoxo and our customers who have relentlessly stood by us on our journey and helped us grow with each passing year.”, said Manoj Agarwal, Co-Founder of Giftxoxo & Frogo and Frogo.in.
Adding to this, Abhishek Kumar, Co-Founder, Giftxoxo & Frogo also stated, “This is a great value add to the Giftxoxo family to get associated with the Mahindra Group. We being a nascent and agile organization expect to get a boost up from the expertise and experience of the Mahindra Group. This will also help us adopt to latest technologies at a faster pace and scale to new markets. We welcome their investment, and appreciate the confidence they’ve expressed in our brand, distinguished offering, idealistic leadership and strong growth opportunities.” Speaking on the same, Kushal Agarwal, Co-Founder of Gitfxoxo & Frogo said, "There's a huge opportunity to organize the last mile activity and experiences market. We're building a marketplace model to address this opportunity and we believe this association will strengthen our efforts towards it."
“We are excited to partner with ‘Giftxoxo’ as a strategic investor. This will enable us to expand our offerings of unique and memorable experiences, specially curated, for our 2 lakh Club Mahindra members. Our ‘Club’ members will now have more opportunities to bond with their families not only at our 46 resorts in India and abroad but also in their hometowns, year-round”, said Managing Director & CEO, MHRIL, Kavinder Singh.
Giftxoxo, launched in 2012, offers over 5000 experiences across categories such as adventure, wellness, fine-dining, hobbies & workshops and philanthropy. It also offers a SaaS enabled platform for Rewards & Recognitions to corporates. It’s consumer brand, Frogo helps users discover and book activities, experiences and things to do such as Microlight flying, Dolphin tours, camel ride on beach, city tours etc. to do in city or at a travel destination.
Talking about the venture, Naveen Kshatriya, Managing Partner of Kshatriya Ventures said, “We have seen great focus and passion for and learning amongst the founders of GiftXOXO. In conjunction with a unique business model and outstanding customer focus we have seen them grow this business from strength to strength. We are glad that their hard work and robust business acumen have led to these results. We believe that there are significant synergies in Giftxoxo and Mahindra holidays’ businesses. We are sure that the coming together of both parties will create a greater value for all stakeholders. Mahindra group is one of the most credible names in the businesses and can bring immense financial and strategic strengths to the business.”
Giftxoxo & Frogo have been growing steadily over the past four years and now caters to over 700 clients across India and around the world. The company has also won prestigious awards such as, best Mobile App Award at GMASA 2016, CNBC Young Turks, Future of India Award 2016 and People Matters HR Spotlight Award 2016.
About Nreach Online Services Pvt Ltd: GiftXOXO.com & Frogo.com:
The Company was founded in 2012 by Mr. Sumit Khandelwal, Mr. Manoj Agarwal, Mr. Abhishek Kumar and Mr. Kushal Agrawal and has over 150 employees and more than 700 clients across India. The company’s efforts have been directed towards providing unique, exclusive and personalized experiences to their customers. The company is one of the leaders in the field of Appreciation Management, Rewards & Recognition, Incentives and Employee Engagement through fabulous experiences from various categories including gourmet, adventure, tours & getaways, health & wellness, arts & learning and philanthropy. These experiences and activities can also be booked from the location based mobile app Frogo or gifted via the website Giftxoxo.com. The company has been successfully expanding its offerings and business for over 4 years and is headquartered in Bangalore with regional offices in New Delhi and Mumbai.
Giftxoxo Company Profile
Giftxoxo with world’s largest collection of curated experiences is a leading experiential gifting company which caters to the needs of individuals and corporate organisations alike. The company believes in creating memories and moments in the form of unique experiences that users can cherish for a lifetime. Customers can access Giftxoxo experiences via its website and mobile app. It provides exclusive, curated WOW experiences across India in various categories including Gourmet Food, Adventure, Tours and Getaways, Health and Wellness, Arts and Learning and Philanthropy. Established in April 2012, Giftxoxo has a wide business portfolio of experiences, rewards and recognition enterprise platform, and gift vouchers. One can use its website www.giftxoxo.com or the mobile app Frogo which is available on both Android and iOS.
Giftxoxo Enterprise offers technology solutions in the fields of Appreciation Management, Rewards and Recognition, Incentives, and Employee Engagement. These programs can be integrated with the various HR and marketing engagement tools with companies. Giftxoxo Enterprise helps companies to manage their employee engagement and channel engagement through its cloud based SaaS platform with lot of rich features. Its analytics and gamification modules has been helping companies draw deep insights to improve engagement metrics with relevant stakeholders.
Frogo encompasses an eclectic range of curated activities and experiences across India. It provides a range of engaging and handpicked activities in adventure, fine dining, wellness, offbeat tours, heritage, hobbies, learnings, arts, etc. Consumers can use Frogo to discover fun things to do in and around their city or while they’re travelling. All the experiences on Frogo are pre-screened for quality, uniqueness, and service to ensure the ultimate consumer experience.
Giftxoxo has curated over 4000 unique experiences and activities for its consumers globally. It also provides easy E-Gift Vouchers, Physical Vouchers, and International Vouchers that a customer can avail as per requirements. Giftxoxo works in tandem with over 1,500 service providers globally to provide an array of consumer offerings that are handpicked and well diversified. It also provides a high degree of automation to help its service providers manage catalogue, inventory, scheduling, and bookings.
The company has regional offices in New Delhi, Hyderabad, Chennai, and Mumbai and is headquartered in Bangalore. The company was founded by 4 founders and has a team of 150 young professionals.