CheersOye!: Social Payments & Social Gifting Platform for a Faster, Easy &Fulfilling Way of Sending

CIO Vendor Do you miss sharing a beer with your buddy, just because you’re too busy or far from him? Are you looking to gift something to your star employee but couldn’t find a suitable way to do it? Well here’s young startup that might have a solution to these predicaments. CheersOye! a Mumbai based start-up launched in May 2016 as a flagship brand of iPanache Private Limited, is enabling customers to share spontaneous and casual fun moments with their friends on any occasion in the most creative way. You don’t have to share beer emojis anymore, instead using ChersOye! app, you can instantly share an e-voucher on their mobile number which can be claimed by the recipient at CheersOye! partner merchants of their preference. And more importantly for every transaction made, the sender also gets an instant gratification such as cashbacks, free beers, free dinners, and many others, thus encouraging users to not just gifts others but also pamper themselves via CheersOye!

Forging through the challenges of developing the architect and tracking the customer behaviour through big data analytics, CheersOye! has surely taken the weary load of choosing the gifts from the customers. “Although the concept of the brand is sharing casual and spontaneous gifting experiences amongst buddies, our philosophy pretty much revolves around Customer being the King and customer’s delight which is of utmost importance,” asserts Bhavna Lalchandani, Co-Founder, CheersOye!

Structuring Success

This novel concept offers instant gratification and freedom of choice to the customers to send and receive gifts of any denomination from an array of
products that get delivered instantly on their mobile, who in turn can claim their free gifts at any of partner merchant outlets and enjoy a fully paid experience, which has been gifted to them. “People have become more experimental when it comes to food. They look out for novel, creative and delightful experiences, even if it comes at an increased share of their wallet,” asserts Rahul Shrivatava, Co-Founder, CheerOye!. The startup even designs & customize packages for the corporates basis their requirements to utilize it as an e-gifting platform to offer rewards & recognition to their employees.

CheerOye! has partnered with more than 1000 outlets including renowned brands like Baskin Robbins, Barking Deer, Cream Centre, Ramada Palm Grove, InterContinental and many more. The company employs an innovative Pay-Per-Performance revenue model wherein the Merchants have to share only certain percentage of revenue that is garnered from CheerOye!, rather than charging money upfront for listings just like other media without assuring any customers.

Future Outlook

Leveraging their experience in analytics, client servicing, media sales and digital marketing, Rahul & Bhavna have scaled up the ladder in quick time. Within few months of the launch, CheersOye! crossed 60,000 app downloads clutching Rs.15 million in terms of gross revenue. The company has also secured a funding of $500,000 from group of angel investors.

Currently, CheersOye! operates with a team of 12 and is looking to expand its presence across Pan India aiming for about 20,000 restaurants as partners. Replicating this model to other genres in the lifestyle segments such as Health & Fitness, Spas & Salons, Fashion, Travel, Entertainment, Events is also on their blueprint for 2017.

If the customers are not satisfied with HMD’s products, they change the dish and give out in free