BookMyShow got Rs.550 Crore funding led by US-based Stripes Group

BookMyshow is the popular movie and event ticket booking service provider in India, which entered Indonesia last month. BookMyShow allows users to book tickets for movies, plays, sports, and live events through its website, mobile app, and mobile site. BookMyShow is the Mumbai based firm founded in 1999 which have its its presence in 350 towns and cities. Accel Partners, SAIF Partners and Network 18 are also the present in the funding round which is ultimately led by US-based Stripes Group.7

“The current round values the company at close to Rs. 3,500 crores While we are working on expanding the market, the focus is also on solving issues like payments and connectivity to drive usage…We want to become a digital entertainment destination,”  BookMyShow CEO and co-founder Ashish Hemrajani says.
“We have been working on our own content for the last one year. We have got videos, information about movies and events. These have shown positive traction,” he said. BookMyShow, run by Bigtree Entertainment, sold 100 million tickets in 2015-16 double than the year before. “We are confident of continuing the same pace of growth this year as well,” Hemrajani said. The company has also started operations in Bangladesh, Indonesia, New Zealand and Sri Lanka.

Stripes Group is a venture capital firm based in New York, focusing on areas such as internet, software-as- a-service, digital media and e-commerce with $1.5 billion of assets under management.

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