Big Tree Entertainment, which owns online ticketing service BookMyShow, has bought a majority stake in Bangalore-based startup Eventifier for over $2 million in an all cash deal with the existing investors exiting the company, reports the Economic Times.
This may be a deal pushed through by a common investor: Eventifier had raised a $500,000 seed investment from Accel Partners and existing investor Kae Capital. Prior to this, the company had raised an undisclosed amount of investment from Kae Capital and the Startup Centre.
The common investor is Accel Partners, which had initially invested Rs 100 crore for a minority stake in BookMyShow in August 2012, and participated in a Rs 150 crore round of investment along with SAIF Partners and Network18.
Started in June 2012 by Jazeel Badur Ferry, Nasim Zeeshan and Mohammed Saud, Eventifier allows event organizers to archive event related content like photos, videos, slides, tweets and conversations from the web to a dedicated events page. It aggregates these content using hashtags and keywords and also offers the ability to restrict the aggregation to a specific time period.
Post the deal with BookMyShow, Eventifier is expected to retain its brand and operate as a separate entity and will be looking to provide an end-to-end social media platform, looking into BookMyShow’s movie-tickets data to provide brands an extended outreach using analytics and marketing.
BookMyShow had also acquired the Chennai-based ticketing portal Ticketgreen for an undisclosed amount.
Note that Reliance Industries is an investor in BookMyShow via Network18, which it owns. Another Network18 ecommerce company, HomeShop18, is in a state of significant flux. The difference between the two: RIL (via) Network18 owns a majority stake in Homeshop18.
(with inputs from Nikhil Pahwa)