Gifting always feels great. Seeing that expression of joy on the face of the person you gift is an inexplicable feeling. To experience that feeling however, you have to know what gift would make that person happy; well, Badhai.in can help you there.So, how exactly does Badhai.in manage the difficult task of pleasing your giftee? It’s simple. Badhai.in allows you to gift an eVoucher, delivered almost instantly, which can be redeemed in multiple stages at stores/online sites like lifestyle, pantaloons, bigbazaar, ibibo, Babyoye, etc. across multiple categories of merchandise/services at retailers. What’s more, if you don’t have enough money to buy what you want, you can contribute to the gift by paying a part of the total amount, leaving it to the recipient to pay the rest.
“Badhai.in is completely electronic and online, hence you can gift with just a couple of clicks. The gift will be delivered instantly, without delay. Gifting becomes simple, quick and efficient,” says Founder, Ajay Pandey. To corporates, Badhai.in provides solutions for managing gifting, rewards and incentives.
eInsiginia Infosoft Pvt. Ltd., was founded in September 2010. They launched Badhai.in, a year later, in September 2011. Ajay, an alumnus of IIT Kanpur, founded Badhai.in with an aim to provide a platform that will change the way people send and receive gifts. “We understand that in today's world, time is the most precious element, and people spend significant time and effort in choosing gifts and then sending it across. It is also seen, that seldom the recipients are wowed by what they receive. Badhai.in is an attempt to solve all your problems when it comes to gifting, save your time and leave you with an amazing experience,” says Ajay.
Badhai.in has so far been funded solely by its promoters. The Badhai team wanted to build traction before approaching VCs, and they believe they have now achieved enough, in order to do so. Currently, their revenue comes from various sources:
- Discounts negotiated with retailers / ecommerce affiliates
- Unused vouchers
- Value-added services for managing incentive programs, activations, etc.
- Individual gifting – C2C
- Voucher sales to corporate Channel incentives, Rewards and Recognition program
“Our corporate business is primarily sales force driven, while the retail business is driven by our online marketing efforts. Further, our business model requires low working capital, as RBI mandates advance collection before issuing these instruments,” says Ajay.
With a target market of size USD 30 billion (as per AMEX), Badhai.in has a simple vision for its future – to see Badhai.in as a major brand when corporates or individuals think about gifting. “We are right now targeting corporates and our target is to get positive EBIDDA on corporate sales. We will soon be expanding our feet on street sales to 10 major cities of India. Post that, we will start marketing the retail gifting feature," says Ajay. “It’s a growing trend with lots of companies coming into the picture. The convenience and choice factor is definitely going to attract a significant audience,” he concludes.