Avendus Capital Advises Bookmyshow on Its Series C Funding of INR 5,500 mn (USD 80 mn) From Stripes Group and Existing Investors Network18, Accel Partners and Saif Partners.
Bigtree Entertainment Pvt. Ltd., which owns and operates BookMyShow, has raised INR 5,500 million (USD 80 million) in its fourth and largest single financing round, placing it amongst the most valuable internet brands in the country.
The round was led by US based Stripes Group and saw participation from all existing investors – Network 18, Accel Partners and SAIF Partners to further strengthen BookMyShow’s position as the largest online entertainment ticketing platform in the country. This transaction marks Stripes Group’s first investment in India.
BookMyShow
This fresh infusion of funds comes at a time when BookMyShow has entered new international territories such as Indonesia and looks to transform into the preferred ‘Entertainment Destination’ within India. BookMyShow has emerged as a unique convergence of user engagement and commerce.
Avendus Capital was the exclusive financial advisor to this transaction. This was Avendus’ third transaction with BookMyShow in the past four years which has seen the company grow ten-fold and demonstrate exceptional value creation.
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