Mahindra Holidays Acquires 12% stake in Online Gifting Platform Giftxoxo

Mahindra Holidays has picked up 12% stake in Bangalore-based Nreach Online Services Pvt Ltd, which operates online gifting portal Giftxoxo.com and mobile app Frogo.in. The acquisition will allow Giftxoxo to curate activities and experiences such as cooking classes, expeditions, among others, for Club Mahindra members, the company said in a statement.

The investment also 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.