iWorld

Network18, SAIF and Accel invest Rs 150 crore in BookMyshow

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/internet-images/2014/06/18/bms.jpg?itok=ZnJF_h6x

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

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/18/zee5.jpg?itok=f3WsjIB0
ZEE5 to stream 'Bhram' on October 24

MUMBAI:  The OTT giant ZEE5 is coming out with a new series titled 'Bhram' which will be a one of its kind psychological thriller with an extra topping of horror. 2019 is the year that has seen Indian cinema progress to greater heights not just in mainstream cinema but even in the OTT space. ZEE5...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/18/nikhil.jpg?itok=tw0uHXsb
Nikhil Gandhi moves to TikTok from Times Network

MUMBAI: TikTok has appointed Nikhil Gandhi as Tiktok India head. In his new role Gandhi will be responsible development and operation of TikTok India. Prior to the new appointment, Gandhi was associated with Times Network as President and COO. Gandhi has over 20 years of experience in leadership...

iWorld Social Media
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/18/snapdeal.jpg?itok=J6VnH-uO
Snapdeal witnessed 50% growth over last year from two Diwali sale editions

MUMBAI: Snapdeal, one of India’s largest value-focused online marketplaces, concluded the first two of its Bharat-focused Diwali sales on a high note. Snapdeal witnessed a 50 per cent growth over last year from the first two sale editions of this year and is confident of the momentum continuing in...

iWorld e-commerce
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/17/sachin.jpg?itok=tzqdFe5S
Sachin, Sehwag to open for India again

MUMBAI: Master Blaster Sachin Tendulkar, one of the most fearsome opening batsman of all time Virender Sehwag, the legendary West Indian Brian Lara, lethal Aussie speedster Bret Lee, one of Sri Lanka’s most stylish and dependable batsman of all time Tillakaratne Dilshan and the one and only, who...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/17/sacred-games-2.jpg?itok=Uod5pUBv
Netflix’s mobile-only plan in India exceeds expectations; to help invest more in content

Netflix has bounced back in its Q3 2019 financials by posting revenue of $5.245 billion, which was almost in line with analysts’ prediction of $5.25 billion and was up by 31 per cent y-o-y. While the expected earnings per share were $1.04, Netflix boosted that by delivering $1.47. This is almost...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/17/1.jpg?itok=upOxDFu0
Ali Hussein promoted to CEO at Eros Now

MUMBAI: Ali Hussein has been elevated to the post of chief executive officer (CEO) at Eros Now, the digital arm of Eros International PLC. Hussein joined the organisation as chief operating officer in 2018. His experience spans over 15 years in the media entertainment and digital space. Ali has...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/17/zee5.jpg?itok=u_rdJ2L2
ZEE5 and Wework host discussion on changing landscape of the digital world

MUMBAI: Addressingthe rapidly evolving digital ecosystem in India, ZEE5 India and WeWork India today co-created an evening of discussions on the Changing Landscape of the Digital World.Tarun Katial, CEO – ZEE5 India, India’s fastest growing ConTech brand, and Ryan Bennett, CWeO of WeWork India,...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/16/shemaroo.jpg?itok=atyubwGc
ShemarooMe’s platform design gets recognized at ‘India’s Best Design Awards 2019’

MUMBAI: Shemaroo’s video-streaming OTT platform- ShemarooMe's design has bagged India’s Best Design Project 2019 award at the recently concluded ‘India’s Best Design Awards 2019’ organized by Indi Pool for the work done by Fractal Ink Design Studio on its user interface and experience. The award is...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2019/10/16/rohit.jpg?itok=id4qqfpn
VICE Media Group taps Rohit Tugnait as Commercial Director, India

MUMBAI: VICE Media Group, the world’s largest independent youth media company, is pleased to announce the appointment of senior media executive Rohit Tugnait as Commercial Director for its India territory.  Tugnait will lead the commercial teams based in Mumbai, Bangalore and Delhi and will be...

iWorld Over The Top Services

Sign up for our Newsletter

subscribe for latest stories