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BookMyShow gets Series D funding of $100M led by TPG Growth

Bigtree Entertainment Pvt. Ltd., which owns and operates BookMyShow (BMS), has raised USD $100 Million in Series D funding led by TPG Growth. The round also saw participation from existing investors. The company will use the funds to will help support its growth plans as it aims to become ‘entertainment destination’, it said in a statement.

San Francisco-based TPG Growth, which is also an investor in companies like Spotify and Vice Media, will help BMS to engage with the global media and wider entertainment landscape.

Founder and CEO of BookMyShow Ashish Hemrajani said that TPG Growth brings experience across the global media and entertainment sector, and will be instrumental as BMS looks to accelerate its growth plans in this space.  The company has already expanded its presence in Indonesia, Sri Lanka & UAE.

Avendus Capital was the exclusive financial advisor to BookMyShow and Shardul Amarchand Mangaldas & Co. were the legal advisors representing the company during this round.

BMS’s funding and aquisitions

In August 2017, BookMyShow acquired Nfusion for an undisclosed amount to boost its audio entertainment vertical, which came shortly after the online ticketing company started a music service called Jukebox.

In February 2017, it 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.

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Earlier it had acquired a ticket booking portal MastiTickets. In March 2016, it acquired Chennai-based Fantain Sports, a fan management and analytics startup.

In July 2016, the company raised Rs 550 crore from US-based private equity firm Stripes Groupand 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.

In its annual report 2017, Network 18 mentions that during FY17, BMS  posted 27% year-on-year growth to record an average of over 90 million visits per month by end of FY17. It posted revenues of Rs 235.94 crore in FY16, with a profit of Rs 3.17 crore. (source, Network18 Annual report 2016).

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