Corporate Gifting and Brand Merchandising firm, eYantra has acquired Privilege Corner, a Delhi based Corporate Rewards & Recognition Company for an undisclosed amount. With the acquisition Phani N Raj, Founder eYantra and Mayank Gupta join the board of Directors of Privilege Corner and retain the brand name and the entity.
Privilege Corner is a Gurgaon based company was co-founded by Anshul Gupta, Nitin Mathur (cofounder HealthPA), Harsh Azad (co-founder Via.com) and Umang Maheshwari in Jun 2010. Privilege Corner earlier received a seed fund of USD200 thousand from private investors in Dec 2010.
Going forward, Privilege Corner will implement the solution for eYantra’s over 1000 corporate clients immediately
Privilege Corner’s signature reward solution, known as the ‘Privilege Club’, works on the concept of value proposition and is centred on the element of exclusivity. Privilege Corner creates and manages employee benefit programs via intranet based IT Platforms. The Privilege Club program brings forth exclusive experiences at unimaginable prices courtesy its unique ‘collaborative subsidy sharing model’. The program, which is aptly designed to drive desired organizational behaviours and channelize productivity, is running successfully in several Indian Companies. This reward solution rides on the emotion of being part of an exclusive/ special group which is known to significantly elevate motivation levels.
Privilege Corner’s International alliances give all their solutions a glocalized touch, thus making it ideal for organizations that need to run centralized reward programs across International Geographies.
eYantra earlier raised $7.8mn from PE fund, Argonaut Private Equity and has 14 physical stores, 32 plus online stores. The company boasts of a 50,000 wholly owned state-of-the-art decoration and distribution facility. With over 1000 companies on its client list, it has initiated and built programs for companies like HCL, Microsoft, Dell, Honeywell, Nestle, HLL, HUL, Mahindra Satyam, Dr Reddy’s etc across 42 countries.