Online gifting platform Giftxoxo.com has acqui-hired Yipeedo, a recommendation engine that assists city dwellers to discover and book leisure activities.
Acqui-hire refers to the buy-out of a company primarily for the skills and expertise of its staff, rather than for its products or services.
As per the deal, founders of Yipeedo, Shalini Nautiyal and Dhiraj Kathuria will bring their software product development experience to the Frogo team (Giftxoxo’s recently launched mobile app for leisure activity bookings) and spearhead the product together with the Giftxoxo founders. Shalini will join the board as Product Head, Dhiraj will take over as Technology Head.
Abhishek Kumar, Co-founder Giftxoxo said, “Giftxoxo has forayed into the large consumer activities, experiences and interesting professionals discovery and booking market through its mobile app Frogo. Through this acquisition, Frogo would be able to expand its services at a faster pace and build a robust platform. While Giftxoxo is growing steadily in the gifting of experiences business, Frogo ll be executed at a large mass consumer market across India by connecting consumers for their daily entertainment and interests.”
Giftxoxo, which started in April 2012, had raised an undisclosed amount in angel funding from Mumbai-based Kshatriya Ventures in 2013.
On the other hand Yipeedo which was launched in its beta web version in mid-2014 by Shalini Nautiyal and Dhiraj Kathuria, is a recommendation engine that uses cognitive computing and machine learning to build taste graphs for its users. Using these, it helps consumers discover activities, such as movies, events, food and much more to do within their city, in a manner that clubs local businesses nearby and is personalized to the user’s taste.
Before co-founding Yipeedo, Shalini worked with IT firms Infosys and HCL. Kathuria was associated with Goldman Sachs and Symantec prior to Yipeedo.
“Together, we look forward to taking the combined entity to new heights as we help ease discovery and booking that leaves enduring memories for our customers. We plan to elevate the user experience of our customers” said Sumit Khandelwal, co-founder of Giftxoxo.