Mumbai-based entertainment ticketing portal BookMyShow has acquired a 75% stake in Pune-based DIY (do it yourself) event registration and ticketing platform Townscript in an undisclosed all-cash deal. This is the second acquisition of the year by BookMyShow. Last month, it acquired Hyderabad-based Masti Tickets in an all-cash deal.
The Pune-based startup was founded in the year 2014 by Sanchit Malik and Sachin Sharma. Townscript is an Online Event Registration and Event App Platform. It helps to create a simple and powerful event registration page and event app. They provide ticketing and planning services for workshops, conferences, exhibitions, college festivals, marathons and adventure events.
The co-founder Sanchit Malik said: “We see this investment as the launch pad for a new round of innovation and fast-tracked progress. The investment will be primarily utilized towards building and improving the product offering to technology solutions that address all pain points of registration-based events right from school annual days, expos and conventions, to free-to-host charity, spirituality and fashion events.”
Townscript claims to have provided services to over 12,000 events across India. The setup of the platform is free and there are no additional costs. The team follows a transaction-based revenue model, which is at 3.99 percent and Rs 10 per transaction, which includes the payment gateway fee.
BookMyShow was on acquisition spree. The company has acquired Hyderabad-based online ticket booking portal MastiTickets in January 2017; Chennai based online ticket portal TicketGreen in 2013; following to it in 2015; Bangalore-based social media analytics startup Eventifier and fan relationship management (FRM) solutions provider startup Fantain Sports in 2016.
Co-founder of BookMyShow, Ashish Hemarajani said, “We definitely expect to see more traction in the space of doing it yourself ticketing events. It’s unique and addresses a different set of users who want to set up their own events. They will operate as an independent entity but will be accessible through the BMS site and gain access to our existing user base.”
All these acquisition have done when BookMyShow raised $81.5 Million of Series C funding from US-based Stripes groups. Read more startup News
Want to be a guest author? Register Here to share your business knowledge with our readers.