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.