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SAIF Partners and its existing investors Accel Partners and Network18 have invested Rs 150 crore in Bigtree Entertainment Pvt. Ltd, which owns online entertainment ticketing brand BookMyShow.
BookMyShow has been more than doubling its revenues every year over the last few years. With over 35 million visits and approximately 500 million page views, it has grown to become one of the largest transacting e-commerce platforms in the country.
It has now added 20 new cities by adding new cinemas or handling ticketing for events in those cities. BookMyShow now has a presence in over 200 cities and is striving to further penetrate the single screen cinema segment in each of those markets, Network18 Media said in a filing to the BSE.
With this round of financing, Bigtree is looking to invest in increasing its penetration outside Tier I cities, build on its infrastructure and expand on its offerings.
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