BookMyShow acquires Bengaluru-based Eventifier
Deal values Eventifier at $2 million, says BookMyShow owner BigTree Entertainment
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Mumbai: BigTree Entertainment Ltd-owned entertainment ticketing portal BookMyShow on Tuesday announced that it has acquired a majority stake in Bengaluru-based social media analytics start-up Eventifier, in a deal which valued the company at $2 million, BigTree said in a press release.
As part of the deal, the existing investors in Eventifier—Kae Capital, Accel Partners and The Startup Centre—will be exiting the company. The firm had raised more than 3 crore in seed and venture capital from these investors.
Eventifier, founded by Jazeel Ferry in 2012, offers software solutions that are primarily used to consolidate, track and analyze content feed on social media platforms generated during a targeted social media campaign. The start-up currently serves over 1,500 clients, with many blue chip companies like Pearson, UBM Tech, Clinton Foundation and Nasa being part of its clientele, the firm said in the release.
The firm has been trying to solve the social fragmentation, analytics, marketability and sentimentality using human factors, said Ashish Hemrajani, founder and chief executive at BookMyShow.
Eventifier will continue to operate independently as a company and will continue to cater to customers globally, said Jazeel Ferry, founder and chief executive at Eventifier.
“Eventifier will complement BookMyShow’s social needs in the cinema and events space, but over time will integrate as part of bookmyshow’s larger strategy for diversified business offerings," the firm said in the release.
The deal is the second acquisition by BigTree Entertainment. Previously in March 2013, it had acquired Ticketgreen.com, an entertainment ticketing portal in South India.
Ticketgreen offers a range of services such as providing comprehensive information and ticket booking facilities on various entertainment options. At the time of the acquisition Ticketgreen.com had partnership with over 100 cinemas in South India and sold over 100,000 tickets a month. Through the acquisition, BookMyShow.com aimed to strengthen its presence in the South India market, the firm had said in a press release.
BookMyShow, the flagship brand of BigTree Entertainment Ltd, allows customers to book tickets of movies, music concerts, sporting events and theatrical plays across 220 cities in India.
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