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Ticket booking e-platform BookMyShow, owned by Mumbai-based Bigtree Entertainment Pvt Ltd, has raised over ₹550 crore in its fourth round. The round was led by US-based Stripes Group.
Existing investors Network 18, Accel Partners and SAIF Partners also participated in the round.
In the previous round, BookMyShow had raised about ₹150 crore from SAIF Partners, in 2014. Before that it had raised about $18 million in 2012.
BMR Legal served as the legal advisor and Avendus Capital was the exclusive financial advisor to Bigtree Entertainment during this round.
The fresh infusion comes at a time when many e-commerce players, such as Paytm and GoIbibo, have also entered the ticketing segment. The new funds will be used to expand BookMyShow’s operations in India and overseas. The ticketing site had recently entered the South East Asian market by launching operations in Indonesia.
“We are excited to welcome Stripes Group on board as our newest partner…this is an overall testament to how they believe in our roadmap for growth and innovation within the entertainment space,” said Ashish Hemrajani, CEO & Co-Founder, BookMyShow.
Started as an online ticketing platform for movies in 1999, BookMyShow was re-branded and re-launched in 2007. It has entered into several other categories such as live events, theatre, sports and adventure.
BookMyShow is Stripes Group’s first investment in the Indian market.
Its other portfolio companies include Art.com, GrubHub, Remitly, GoFundMe and eMarketer.
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