Mahindra Holidays Gains 12% Stakes in Giftxoxo & Frogo
Mahindra Holidays to expand its reach!
The new acquisition
Nreach Online Services Pvt. Ltd., a leading activities, experiences and rewards platform has announced that it has confirmed its investment agreement with Mahindra Holidays, one of India’s largest leisure hospitality providers. The strategy behind this 12 per cent stakeacquisition is to expand Mahindra Holiday’s offerings and spread over 2 lakh Club Mahindra members. The Bangalore based company has two brands known as Giftxoxo and Frogo.in but the financial details of the acquisition hasn’t reveled yet by the company.
How will this acquisition help both the companies?
Sumit Khandelwal, Co-Founder, Giftxoxo & Frogo and Frogo.in believes that this partnership with Mahindra Holidays for creating and expanding business both globally and in India will help them to create strong curated experiences and provide value for customers. Moreover it will be massive value for both companies and expand their services beyond movies, malls and restaurants.
More about Giftxoxo and Frogo
Launched in the year 2012, Giftxoxo offers services in adventure, wellness, fine-dining, hobbies & workshops and philanthropy with more than 5000 experiences. Other than that it also offers Software as a Service (SaaS) enable platform for Rewards 7 Recognitions to corporates. Frogo, it’s consumer brand helps customer to find and book activities , experiences and things to do like Microlight flying, Dolphin tours, camel ride on beach, city tours etc. to do in city or at a travel destination.
In the past four years Giftxoxo and Frogo is growing progressively and now provide services over 700 clients all over India and world. It has also won many significant awards like Future of India Award 2016,CNBC Young Turks, best Mobile App Award at GMASA 2016 and People Matters HR Spotlight Award 2016.
Has internet has made booking outside activities easy through these various platforms? Do share your thoughts in our comment section below.
Subscribe with us to get your dose of interesting news, research & opinions in the startup segment. Fill the form below: