The online ticket booking portal BookMyShow (Big Tree Entertainment Pvt Ltd) has acquired Hyderabad based online ticket booking portal MastiTickets in an undisclosed all cash deal. The deal includes all the key assets of the company along with existing cinema partnership. BookMyShow already has partnerships with 4,000 screens across India, with 530 screens being prevalent in the Andhra Pradesh and Telangana market.
BookMyShow is country largest online ticketing website. It is the only destination for movie and non-movie options like events, plays and sports. It was founded by Rajesh Balpande and Ashish Hemrajani and has over 1000 employees working for the company. Their investors include Accel Partners, Network18, SAIF Partners and Stripes Group. The total equity funding of the company is of $124.5 M.
The CEO of the company, Mr.Ashish said, “The Company had charted an aggressive growth. The acquisition fit perfectly into our expansion strategy. Hyderabad, particularly has been a high performing market for us and by combining forces with MastiTickets, we will be able to offer a superior user experience.”
Launched in 2014, MastiTickets, which was founded by Ravi Narla, has partnered with over 120 cinemas in AP and Telangana, enabling users to book tickets for movies through its website, mobile app and mobile site.
Prior to this, BookMyShow was on acquisition spree. In past three years the company has acquired a 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.
BookMyShow sold over 100 million tickets through their website and mobile application. The company expects to double the growth in the coming year. They operations undergo in over 400 towns and cities across India and strongly focus on regional markets. Read more Indian Startup News.
Learn Cloud Computing From Experts. Learn Now "Cloud engineers are paid the highest salary and there is a huge shortage in the IT industry".