wordpress blog stats
Connect with us

Hi, what are you looking for?

BookMyShow raises Rs 550 crore in from Stripes Group and other investors

cmn-Bookmyshow

Bigtree Entertainment, the parent company of BookMyShow, has raised Rs 550 crore from US-based private equity firm Stripes Group. Other existing investors – Network 18, Accel Partners and SAIF Partners – also participated in the round of funding.

The Economic Times reported that this would value the company at more than Rs 3,000 crore.

This is BookMyShow’s fourth round funding and its largest. It had raised Rs 150 crore from SAIF Partners and others in 2014. The company raised Rs 100 crore from Accel Partners in return for a minority stake in the company in August 2012. Network18 owns 39.35% in BookMyShow. Before BookMyShow raised funding from Accel Partners, Network18 held 60% in the company, in FY12.

This fresh infusion of funds comes at a time when BookMyShow entered new international territories such as Indonesia.  Founded in Mumbai  in 1999 and re-launched in 2007, BookMyShow is now present in over 350 towns and cities across India. BookMyShow gets 60% of its revenue from movie tickets while 40% from plays, events and sports events. Network18 mentioned that BookMyShow has sold an average of more than 4.5 million tickets a month in FY15, with over 50% of the tickets now being bought via mobile.

Financials: For the year ended March 2015, BookMyShow reported revenues of Rs 127.6 crore, up 51.9% from Rs 84.02 crore revenues reported in the previous year. The company’s loss trebled to Rs 13.5 crore, from Rs 4.03 crore in the preceding year.

Advertisement. Scroll to continue reading.

Acquisitions: In March 2016, BookMyShow acquired Fantain Sports, a Chennai based fan management and analytics startup, for an undisclosed amount, to expand its reach and grow its user base. Fantain offers fan engagement through mobile and web solutions, stubs and widgets which can be used in channels to capture and send fan interaction via TV, digital, web, POS etc to its database for analysis

In February 2015, the company bought a majority stake in Eventifier for $2 million for an all cash deal, with existing investors exiting the company. 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.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India and US come to terms on how to deal with the equalisation levy in light of the impending Global Tax Deal.

News

Find out how people’s health data is understood to have value and who can benefit from that value.

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

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

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...

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...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ