Bigtree Entertainment Pvt. Ltd., the Mumbai-based organization that owns and operates BookMyShow, has raised over Rs. 550 crore in its fourth and largest single round of funding. US-based Stripes Group led this round of financing, in which all existing investors – Network 18, Accel Partners, and SAIF Partners participated. This fresh inflow of funds will be a major boost for BookMyShow which has recently expanded to international markets like Indonesia and looks to become the preferred ‘Entertainment Destination’ within India.
Ashish Hemrajani, CEO & Co-Founder, BookMyShow commented, “We are excited to welcome Stripes Group on board as our newest partner, which comes with a wealth of experience in digital entertainment asset. With BookMyShow being their first investment in the Indian market, alongside the display of confidence by our existing investors Network 18, Accel Partners and SAIF Partners, this is an overall testament to how they believe in our roadmap for growth and innovation within the entertainment space.”
Hemrajani added that these funds will be utilized towards rolling out exclusive entertainment experiences on BookMyShow, while enhancing the overall offering for customers.
“We are thrilled to be partnering with three very special founders - Ashish, Rajesh and Parikshit – as well as a world class team and group of investors at BookMyShow. We look forward to sharing our operating and investing experience with online transactional and ticketing businesses, as well as digital media, to help the Company continue to scale.” said Stripes Group Managing Partner Dan Marriott.
Founded in Mumbai in 1999, BookMyShow is India’s largest online entertainment ticketing platform that allows users to book tickets for movies, plays, sports and live events. It is present in over 350 towns and cities across India.
Based in New York City, Stripes Group is a leading equity firm that invests in Internet, Digital Media, Software, and Branded Consumer Products businesses around the world.