iWorld

Network18, SAIF and Accel invest Rs 150 crore in BookMyshow

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/internet-images/2014/06/18/bms.jpg?itok=mUH0bJho

MUMBAI: The holding company of one of India’s leading online entertainment ticketing companies BookMyShow, Bigtree Entertainment has received a shot in the arm. The company’s existing investors Network18 and Accel Partners and its new investor SAIF Partners have together invested Rs 150 crore in the company.

With this round of financing, the company is looking at increasing its penetration outside tier I cities, build its infrastructure and expand its offering in order to take customer experience to the next level. Avendus Capital was the sole financial advisor and BMR Legal was the legal advisor for this transaction.

On signing the deal, BookMyShow founder and CEO Ashish Hemrajani said, “We are very happy to have SAIF Partners as our latest investors. The common vision of creating scalable and large businesses was aligned to our thought process. Their experience of having helped companies such as MakeMyTrip and Just Dial go public would be of immense value to us as we move forward in our growth plans. We are also very happy to have delivered value to our existing investors and the fact that both Network18 and Accel have further invested in this round, shows their confidence in the company and the ability of the team to continue delivering and innovating.”

Commenting on the transaction, SAIF Partners MD Deepak Gaur said, “We are delighted to participate in this exciting journey of bringing world class convenience to consumers across entertainment verticals that BookMyShow offers. We are confident that with the current round of capital raise, BookMyShow team will continue to strengthen the relentless focus on innovation, customer service and technology as our country takes rapid strides in internet penetration.”

Accel India partner Prashanth Prakash added, “As an industry leader, BookMyShow continues to set the agenda when it comes to movie and event experiences in India. We look forward to supporting the team in continuing to enhance value for their customers and realising the potential of becoming the default destination for consumers' entertainment needs.”

Commenting on the transaction, Capital 18 MD Sarbvir Singh said, “BookMyShow has emerged as the country’s leading entertainment ticketing destination. The company continues to attract high pedigree investors and with SAIF Partners joining Accel Partners and Network18, the BookMyShow team will be able to further enhance customer experience and market leadership. We were happy to participate in the transaction and look forward to the next phase of the BookMyShow journey.”

A release from the company states that it gets more than 35 million visits and 500 million page views approximately and has sold more than 10 crore tickets till date. It has also re-launched a mobile app to facilitate ticketing in India and an additional 20 cities have been covered by adding new cinemas. BookMyShow now has a presence in over 200 cities and is trying to further penetrate the single screen cinema segment in each of these markets. 

BookMyShow was the exclusive online ticketing partner for the ICC T-20 Championship in Bangladesh. The company is also the exclusive ticketing partner for many IPL teams which include Mumbai Indians, Delhi Daredevils, Rajasthan Royals, Hyderabad Sun Risers, Chennai Super Kings and Kings XI Punjab. It also manages ticketing for IPL central rights along with accreditations. The other sport events for which BookmyShow has been the exclusive online ticketing partner are; Chennai Open Tennis championship, Super Fight League and Yonex Badminton.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/10/telcom.jpg?itok=qjcMRrrV
Govt made Rs 2152 cr less than expected from spectrum sale

MUMBAI: The government raised Rs 32434.10 crore upfront from the spectrum auction this year, against the Rs 43586 cr that the Telecom Department had projected. That is a difference of Rs 2152 cr.

iWorld Telecom
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/10/Beerud-Sheth.jpg?itok=bUPGkqtE
Take 'Actions on Google': partner's Gupshup with enterprises

MUMBAI: Gupshup has partnered with Google to enable enterprises to quickly and easily build for ‘Actions on Google’, its development interface for the Google Assistant. Bot builders can now create and deploy bots or actions for the assistant using Gupshup’s cross-platform development tools.

iWorld eNews
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/10/u-tube.jpg?itok=qWiGwtLp
YouTube contemplates YRF, Shemaroo, Sony, Zee & studio tie-ups

MUMBAI: With competition in the OTT space getting tougher every passing day, the players have to ensure that they boast an edge over the rest. In a move to compete with its rivals – Netflix and Amazon Prime, Alphabet’s YouTube is in talks with some of India’s biggest production houses and...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/10/j.jaylaitha_0.jpg?itok=U1kIdk6s
How 'internet' mourned Jayalalithaa's death

MUMBAI: 5 December, 2016, was a dark day. Not just for Tamil Nadu politics, but for everyone inspired by and believing in the strength of a self-made woman who rose to the senior ranks of leadership.

iWorld eNews
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/10/broadband.jpg?itok=UeQMWGjZ
BSNL leads in wireline broadband internet subs addition in Sep-16

BENGALURU: In a change from the norm, the public sector telecom giant Bharat Sanchar Nigam Limited (BSNL) added 40,000 wireline broadband internet subscribers in the month of September 2016 (Sep-16). BSNL had been consistently losing subscribers in the calendar year 2016 (CY-16) until 31 August...

iWorld Broadband
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/09/sanam-teri-kasam.jpg?itok=uGh1IPgW
Eros Now gets 4-5 million subs from telcos & OEMs

MUMBAI: Folks at Eros are popping bottles of champagne! Eros International's OTT platform Eros Now has achieved two million paid subscribers worldwide through significant deals in place with all major telecom players in India such as Reliance Jio, Airtel, IDEA Cellular Network and Vodafone.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/09/Uday-sodhi-800x800.jpg?itok=K65T_-1G
SonyLIV refreshes its brand identity 'LIV to Entertain'

MUMBAI: SonyLIV has yet again proved its status as a pioneer of innovation in its industry by unveiling a refreshed brand identity. The renewed brand ethos “We LIV to Entertain” promises to make SonyLIV the ultimate destination for rich entertainment across genres, screen types and audience...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/08/Mark-Zuckerberg.jpg?itok=rZrcR1Lm
2016's top moments on Facebook

MUMBAI: Each year, Facebook reviews the moments, events and trends that people shared and talked most about. Today, we’re excited to share those top moments from 2016. The top moments represents most talked about, shared and discussed topics that dominated the year that went by.

iWorld Social Media
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2016/12/08/AISH_01.jpg?itok=pMc51EA2
Arre's 'A.I.SHA | My Virtual Girlfriend' wins at WebFest

MUMBAI: Arré's first web series A.I.SHA | My Virtual Girlfriend has won the best overall web series and best suspense/thriller at South Florida WebFest in Miami. The show has been selected from among a selected screening of the best 27 global web series and short films that were shortlisted.

iWorld Over The Top Services

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories