New Delhi, Aug 20: US-based global investment company KKR is acquiring a minority stake in BookMyShow, the Indian ticketing and live entertainment platform, for an undisclosed amount.
The two companies have signed a definitive deal whose confirmation is subject to customary regulatory approvals and conditions.
BookMyShow plans to use the capital to increase its presence in live events and build its technology and entertainment capabilities.
BookMyShow has expanded from an online movie ticketing platform into an entertainment company covering movies, live events and experiences.
Its live entertainment arm, BookMyShow Live, manages talent, event production, promotions, partnerships and audience development.
The platform operates across 700 towns and cities in India and works with more than 7,000 cinema screens.
Its live entertainment portfolio includes events such as Lollapalooza India, U2’s The Joshua Tree Tour, NBA games in India, Disney’s Aladdin and concerts featuring Coldplay, Ed Sheeran, Travis Scott and Justin Bieber.
BookMyShow was founded by Ashish Hemrajani and is backed by investors including Network18, Accel, Elevation Capital, Stripes Group and TPG.
The company also operates in Singapore, Indonesia, Malaysia, the United Arab Emirates and Sri Lanka. (BVI)
