 "BookMyShow buys Hyderabad-based MastiTickets in all-cash deal")
BookMyShow has acquired Hyderabad-based online ticketing platform MastiTickets in all-cash deal. The acquisition includes transfer of all its key assets along with existing cinema partnerships in Telangana and Andhra Pradesh.
This is the fourth acquisition of the company. Earlier, it bought Chennai-based online ticketing player TicketGreen; acquired a majority stake in Bengaluru-based social media analytics start-up Eventifier and another Chennai-based fan relationship management (FRM) solutions provider Fantain Sports.
"The acquisition of MastiTickets fit perfectly into our expansion strategy. Hyderabad has been a high performing market for us and now with combined forces, we offer a superior user experience in Telangana and AP. This region is offering us huge growth potential," BookMyShow Co-founder Ashish Hemrajani said.
BookMyShow added 37 new locations in Telangana and AP last year. The online ticket sales and revenues grew at a rate of 25% from the region. The acquisition of MastiTickets will help the company to further consolidate its position and strengthen its footprint, Hemrajani said without disclosing the amount.
Last July, BookMyShow raised Rs 550 crore in its fourth round of investment led by US-based Stripes Group and other existing investors Network 18, Accel Partners, and SAIF Partners.
MastiTickets was founded by Ravi Narla in 2014. It has more than 120 cinemas in the Telangana and AP region on its platform.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%