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BookMyShow acquires ticket booking portal MastiTickets

BookMyShow has acquired MastiTickets, a Hyderabad-based online ticketing portal for an undisclosed amount. The acquisition allows BookMyShow to acquire MastiTickets’ key assets including its existing cinema partnerships in regions like Andhra Pradesh and Telangana. MastiTickets which was founded in late 2014 by Ravi Narla. has over 120 cinemas on its platform in these areas.

This is BookMyShow’s third acquisition: In March it acquired Chennai-based Fantain Sports, a fan management and analytics startup for an undisclosed amount. In February 2015, the company bought a majority stake in Eventifier for $2 million for an all cash deal. In 2013, BookMyShow acquired Chennai-based ticketing portal TicketGreen for an undisclosed amount.

Note that the acquisition comes months after it expanded operations in international countries like Indonesia and Sri Lanka. BookMysHow claimed to have in 2.2 billion page views for the quarter ended September 30 (Q2 FY17), an increase of 10% from the same quarter last year. In Q1 FY17, the ticketing company reported revenues of Rs 78 crore, up 30% YoY from Rs 60 crore.

BookMyShow also claimed to have sold over 30 million tickets in Q1 FY17. During FY 2015-16, the company sold an average of over 7.8 million tickets per month on its website and its mobile application, registering a growth of over 82% YoY.

Funding and ownership

In July 2016, the company raised Rs 550 crore from US-based private equity firm Stripes Group and other investors like Network 18, Accel Partners and SAIF Partners. It had aslo raised Rs 150 crore from SAIF Partners and others in 2014. In August 2012The company raised Rs 100 crore from Accel Partners in return for a minority stake in the company. Network18 currently owns 39.35% in BookMyShow.

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