Home / Companies / Bookmyshow raises Rs150 crore from SAIF Partners, existing investors

Bigtree Entertainment Pvt. Ltd, the company that runs online ticketing website BookMyShow, raised 150 crore from SAIF Partners and its existing investors Accel Partners and Network18 Media and Investments Ltd, Bigtree said in a statement on Wednesday.

BookMyShow will use this money to increase its reach outside big cities, build on infrastructure and expand offerings.

With the new round of investment, the firm has now raised around 300 crore. The company recently started offering ticketing services at movie halls in 20 additional cities.

BookMyShow, whose services are available in over 200 cities and which has sold over 100 million tickets since it started business, is looking to now enter the single-screen cinema hall segment.

“We are very happy to have SAIF Partners as our latest investors. Their experience of having helped companies such as MakeMyTrip and Just Dial go public would be of immense value to us as we move forward in our growth plans," Ashish Hemrajani, founder and chief executive of BookMyShow, said in the statement.

Avendus Capital and BMR Legal advised the company on the transaction. In March 2013, the company acquired Ticketgreen Solutions Pvt. Ltd, an online ticketing firm from southern India for an undisclosed sum.

In 2013, Network18 group, which held a 60% stake in Bigtree Entertainment, sold a minority stake in BookMyShow to venture capital investor Accel Partners for around $12 million ( 66 crore).

Bigtree Entertainment was founded in 1999. Its ticketing service was launched in 2007 and allows users to buy tickets for movies, concerts, sports events and plays.

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