You will be redirected back to your article in seconds

Indian Ticketing Firm Bigtree Raises $80 Million From U.S. Investors

Prominent U.S. investors including Stripes Group have taken part in an $80 million funding round for Bigtree Entertainment. The company owns and operates Book-MyShow, an online ticketing portal spanning cinemas, stage shows and events.

The series D funding was led by Stripes, whose managing partner Dan Marriott was previously a board member of Ticketmaster. It gives Bigtree a roughly $440 million valuation.

The company says it will use the new capital to build content and communities around movies and events and also to expand abroad. It is considered the market leader in India and recently expanded to Indonesia. Sri Lanka is reported to be its next overseas target. Acquisitions are also a possibility, most likely in the data and analytics sectors.

Movies account for 60% of its revenues with the balance coming from sports, stage plays and live shows. It charges users a convenience fee and sold 100 million tickets in 2015-16, according to recent figures.

“We want to become a digital entertainment destination,” co-founder and CEO Ashish Hemrajani told Indian media.

Other previous investors include Network 18, Accel Partners and SAIF Partners. Network 18 is the media group that is controlled by billionaire Mukesh Ambani and is Viacom’s partner in India.

More Biz

  • Former movie producer Harvey Weinstein (L)

    Some Weinstein Accusers Balk at $30 Million Settlement

    Updated: Some of Harvey Weinstein’s accusers are not satisfied with a proposed $30 million settlement of their harassment claims, and may not agree to the deal, Variety has learned. Attorneys in the Weinstein Co. bankruptcy case told Judge Mary Walrath on Thursday that they are close to a global resolution of the civil litigation. The [...]

  • Director Dean DeBlois and online game

    'Dragon' Director Dean DeBlois and PUBG's CH Kim to Keynote 2019 VIEW Conference

    Dean DeBlois, director and executive producer of DreamWorks Animation’s “How to Train Your Dragon: The Hidden World,” and PUBG Corporation CEO CH Kim are the first keynote speakers announced for the 2019 VIEW Conference in Turin, Italy, in October. Since it began 12 years ago, VIEW, which stands for Virtual Interactive Emerging World, has continually [...]

  • Harvey Weinstein

    Harvey Weinstein Accusers Near Settlement in Bankruptcy Case

    Attorneys in the Weinstein Co. bankruptcy case say they are getting close to reaching a settlement that would compensate Harvey Weinstein’s sexual misconduct accusers. The company went bankrupt last year, as it faced hundreds of millions of dollars in debt and numerous civil suits on behalf of Weinstein’s alleged victims. The company sold to Lantern [...]

  • Ari Emanuel Endeavor

    Endeavor IPO Filing Offers Details of Company's Financials, Leadership Pay Packages

    Endeavor’s IPO filing Thursday offers a hard look at the company’s financial performance during the past three years during a period of rapid growth for the company that’s home to UFC, WME, Professional Bull Riders and a clutch of other assets. Endeavor is generating solid free cash flow from operations and healthy adjusted earnings for [...]

  • Pamela Anderson

    Pamela Anderson Fears Julian Assange 'Won't Survive' Extradition to U.S.

    After previously speaking out in support of her friend and WikiLeaks founder, Julian Assange, Pamela Anderson doesn’t think he would survive an extradition from the U.K. to the U.S. “I hope he gets out of there, but I don’t think he’ll survive extradition. It can’t happen. It’s not even an option. We can’t have him [...]

  • Jane Austin SAG AFTRA

    SAG-AFTRA Secretary-Treasurer Jane Austin Running for President

    Jane Austin, the National Secretary-Treasurer of SAG-AFTRA, has become the third candidate for the presidency of the performers union, joining incumbent Gabrielle Carteris and Matthew Modine. Austin is running as an independent for the top post at SAG-AFTRA, which has 160,000 members. Carteris will seek re-election as the head of the ticket for the Unite [...]

More From Our Brands

Access exclusive content