BookMyShow has picked up an undisclosed majority stake in Townscript, a Pune-based DIY (Do-it-Yourself) event registration and ticketing platform founded by Sanchit Malik and Sachin Sharma. Multiple reports suggest that this is an acquisition, with around 75% stake acquired by BookMyShow. Townscript was launched in January 2014, and a year later, had raised angel funding from investors including Mohit Garg (Co-Founder, MindTickle), Mahesh Parasuraman (Managing Director-Carlyle Group), Nipam Shah (Founder, NRS Advisors), Dheeraj Vasisht (Director - Ameretat Technologies), Sandeep Bhandarkar (CEO - Ameretat Technologies), Hemal Patel ( CEO - Cyberoam Technologies), Lalit Singh (Executive Director - Enterprise Services HP), Kalyan G (AVP Technology Business, Mahindra Tech) and few others. BookMyShow, last year, raised Rs 550 crore from US-based private equity firm Stripes Group. More on that here. We don't have the latest information, but here's what we have: - Revenues of Rs 78 crore for the quarter ended June 30 (Q1 FY17), selling 30 million tickets in the quarter. - Revenues of Rs 235.94 crores in FY16, with a profit of Rs 3.17 crore. Network18, at the end of the last financial year, owned 39.35% of BookMyShow (source, Network18 Annual report, page 183). An average of 7.8 million tickets were sold per month last year. In the past year, BookMyShow has acquired a ticket booking portal MastiTickets; In March last year, it acquired Chennai-based Fantain Sports, a fan management and analytics startup. In October, it expanded operations to Indonesia and Sri Lanka. Our take on this deal, and the DIY space A note from BookMyShow suggests…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...