BookMyShow acquires Nfusion

Online entertainment ticketing company BookMyShow has acquired video-on-demand platform Nfusion for an undisclosed amount, a move that will help the Mumbai based firm enhance its audio streaming offerings.

Nfusion was set up in the Middle East in 2009 by Shoaib G.M. Khan, Sivagurunathan S. and Prabhakar Reddy. The HD video- on-demand platform allowed users to stream videos online. Dar said that strengthening the audio offerings is part of BookMyShow efforts to become a complete entertainment destination. Nfusion had a library of 1.5 million songs and are now making available curated music that will help listeners discover many more tracks.

Kuber will play an instrumental role in driving partnerships with music labels and distributors, creating exclusive audio content for BookMyShow users, and product marketing. In 2013, BookMyShow had acquired Chennai-based online ticketing player TicketGreen. It then acquired a majority stake in Bengaluru-based social media analytics start-up Eventifier in 2015 and Chennai-based fan relationship management (FRM) solutions provider, Fantain Sports in 2016.

In 2017, BookMyShow acquired Hyderabad-based online movie ticketing platform MastiTickets, invested in Pune-based DIY platform Townscript and also acquired Mumbai-based local food and restaurant recommendation engine, Burrp.

BookMyShow acquires Burrp

Online entertainment ticketing firm BookMyShow (BMS) has acquired Burrp, a Mumbai based local restaurant recommendation engine, from Network 18. The acquisition is being carried out on a slump sale basis by Foodfesta Wellcare, an arm of Big Tree—an associate firm of Reliance Industries, which is also the promoter group company of Network18.

Burrp is India’s oldest food-tech business and currently lists over 56,000 restaurants across 12 cities. Burrp revenue during the 2016-17 fiscal year was Rs56.67 lakh accounting for 0.69% of Network18’s turnover. The net worth as on 31 March 2017 stood at a negative Rs28.89 crore.

It further said considering the “insignificant contribution” of Burrp to revenue and the investments and the focus required to be made, Network18 had decided to divest the Burrp business. The transaction is at arms’ length basis and being a slump sale does not have any impact on the shareholding pattern of the company.

Founded in 2006, Burrp was a prominent player in the restaurant discovery space until it lost ground to competitor Zomato. BookMyShow has been focusing on transforming into a complete entertainment destination as it faces competition from new players like Paytm.

BookMyShow acquires MastiTickets

BookMyShow had acquired Hyderabad based online ticketing platform MastiTickets for an undisclosed amount. As a part of the deal, MastiTickets will transfer all of its key assets, along with existing cinema partnerships, to BookMyShow.

MastiTickets was founded in late 2014. As an online entertainment ticketing platform, it allows users to book tickets for movies through its website, mobile app and mobile site. The platform soon grew to establish a strong presence in Andhra Pradesh and Telangana, and currently works with over 120 cinemas. With this acquisition, BookMyShow aims to further consolidate its position and strengthen its footprint.

BookMyShow (Bigtree Entertainment Pvt. Ltd.) was founded in Mumbai in 1999 and launched in 2007. With a reach across 400 towns and cities in India, BookMyShow allows users to book tickets for movies, plays, sports and live events through its website, mobile app and mobile site. While BookMyShow is a leader in the ticket booking space in India, it may have to tread cautiously in 2017 as 'cord cutting' has gained popularity in the country, with more customers opting for home-based entertainment solutions like Netflix and the more recently launched Amazon Prime Video.

While this is BookMyShow first acquisition in 2017, the company has acquired a few other startups in the past, such as Chennai-based online ticketing player TicketGreen in 2013. This was followed by the purchase of a majority stake in Bengaluru-based social media analytics startup Eventifier in 2015 and then the acquisition of Chennai-based fan relationship management (FRM) solutions provider Fantain Sports Pvt. Ltd. in 2016.

Alibaba Pictures to buy TicketNew

Alibaba Pictures, the movie and TV Content business controlled by the Chinese e-commerce giant, is in talks to buy a majority stake in Chennai based Orbgen Technologies Pvt. Ltd, which operates ticket booking platform TicketNew.

TicketNew, founded in 2008, who goes by only one name, charges a convenience fee from users for booking tickets. It also gets a small fee from theatre owners for software installation and app development. Alibaba Pictures was earlier known as ChinaVision Media Group Ltd. Alibaba acquired a majority stake in ChinaVision in March 2014 for $804 million. In China, Alibaba Pictures manages its ticketing business through subsidiary Tao Piao Piao.

The company has invested in Hollywood movies such as Mission: Impossible – Rogue Nation and Star Trek Beyond. In October, Alibaba Pictures picked up a minority stake in celebrated Hollywood director Steven Spielberg’s Amblin Partners, with an aim to co-produce and finance films for both global and Chinese audiences. Alibaba Picture’s entry could change the dynamics of ticketing, which is currently dominated by BookMyShow, the most funded internet company in this space.

TicketNew is a technology-led entertainment services provider, integrating movie theatres, film distributors, production houses, events and sports with consumers. TicketNew customer base comprises of ticket brokers, venue managers, affiliate marketers, ticket retail customers, sports professionals, concert and event promoters, and software vendors, among others. TicketNew Box Office Suite is installed in more than 1,000 screens in over 10 countries, covering a wide range from single-screen independent theatres to some of the largest cinema chains in the world.

Go-Jek acquires LeftShift Technologies

Indonesian Bike hailing app Go-Jek has acquired Pune based app development company LeftShift Technologies Pvt. Ltd for an undisclosed amount to strengthen its product development efforts, making its fourth acquisition of an Indian firm.

It helped more than 200 companies design and develops mobile apps, including companies such as BookMyShow, Practo, OYO, Byju’s Classes, Airtel and Emerson. It also counted Go-Jek as one of its customers. The product development centre, which has about 60 employees now, comprises developers, data scientists, designers and product managers who work on mining data and delivering better experiences for consumers.

Go-Jek had earlier acquired Bengaluru-based home healthcare start-up Pianta in August. In February, the firm announced that it bought Bengaluru-based software engineering company C42 Engineering India Pvt. Ltd and Delhi-based development and operations company CodeIgnition Software Solutions Pvt. Ltd for engineering talent. These deals are so-called acqui-hires, which is jargon for an acquisition made to gain access to the employees of the acquired company.

Go-Jek offers stock options to the employees of its acquired companies that vest over four years. Go-Jek was started by Harvard graduate in 2011 and is the first Indonesian start-up to achieve the “unicorn” status after a $550 million funding round in August led by KKR and Warburg Pincus.