Giftxoxo, an online gifting platform and a former TP PitchOff finalist, has announced that it has acqui-hired BookMyInterest, which is an online marketplace for hobbies and extra activities.
As a part of this acquisition deal, two of the 10 members team of BookMyInterest, including one of the co-founder Navin, will join Giftxoxo team. With this, Giftxoxo is riding on the potential vendor base built by BookMyInterest in hobbies and activities space in Bangalore, along with the strong experience background of founders.
Commenting on this, Manoj Aggarwal, Co-founder, Giftxoxo, said,
This experience along with what company has done in the last couple of months would bring us lot of traction in terms of both the supply side as well as consumer side.
Giftxoxo was founded in 2012 by Sumit Khandelwal, Manoj Agarwal, Abhishek Kumar and Kushal Agrawal. The company has two different business units – giftxoxo, which is into gifting activities and another is Frogo, wherein a customer can browse through various interesting things they can do around their place and can later book it.
With a team of around 150 people, the company generated around Rs 40 crore in revenue last year, and is projecting to generate Rs 100 crore for the coming financial year. It is currently having pan-India presence but looking to focus on top 10-15 cities in India.
Since the launch of its beta web version launch in February this year, BookMyInterest has emerged as one of the leading search facilitators of verified and rated service providers catering to various interests & hobbies.
The company has a vast database of activities and experiences, from cooking classes to fitness programmes, hikes and expeditions to dance classes.
This isn’t the first acquisition by Giftxoxo. Last year, Giftxoxo had acqui-hired Yipeedo, a recommendation engine that assists city dwellers to discover and book leisure activities.
Earlier this year, in January 2016, it had acquired Actizone, an online portal to discover extra-curricular activities, for an undisclosed amount of sum.