Business Other News 06 Jul 2016 Ticketing firm raise ...

Ticketing firm raises Rs 550 crore

PTI
Published Jul 6, 2016, 4:55 am IST
Updated Jul 6, 2016, 4:55 am IST
BookMyShow has raised over Rs 550 crore in funding.
Bigtree Entertainment, which owns and operates BookMyShow (BMS), has raised over Rs 550 crore in funding.
 Bigtree Entertainment, which owns and operates BookMyShow (BMS), has raised over Rs 550 crore in funding.

New Delhi: Bigtree Entertainment, which owns and operates BookMyShow (BMS), has raised over Rs 550 crore in funding, led by US-based Stripes Group. The series D funding round, which is the largest to date for the company, also saw participation from BMS’ existing investors  -  Network 18, Accel Partners, and SAIF Partners. The Mumbai-based firm will use the proceeds to strengthen its international presence as well as ramp up offerings in the domestic market.

Besides, it will use the funds to bolster the content on its platform and acquire firms working in areas like big data and analytics. So far, BMS has raised about Rs 200 crore in funding. “The current round values the company at close to Rs 3,500 crore,” BookMyShow CEO and co-founder Ashish Hemrajani told PTI. BMS is Stripes Group’s first investment in the Indian market.

 

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