Wednesday, April 24

Tag: Bookmyshow

BookMyShow Posted Profit of 3.1 Crore in FY16
BUSINESS

BookMyShow Posted Profit of 3.1 Crore in FY16

BookMyShow.com, India's leading online entertainment ticketing platform posted Rs.3.1 crore profit on moday for the year ended 31 March, against a loss of Rs.13.5 crore in the year-ago period. Bigtree Entertainment Pvt. Ltd also known as Bookmyshow, Revenue rose to Rs.248 crore in the period from Rs.130 crore. Revenue from online ticket booking doubled to Rs.176.7 crore from Rs.88.4 crore. The company was founded in 1999 by Ashish Hemrajani, Parikshit Dar and Rajesh Balpande, the Mumbai-based online ticketing company raised over Rs.550 crore in its fourth round of funding in July led by US-based Stripes Group with existing investors Network 18, Accel Partners, and SAIF Partners participating. The funding valued the company at Rs.3,000 crore. BookMyShow is present in over 350 towns...
China’s Baidu in talks with Indian e-commerce start-ups for funding
BUSINESS, News

China’s Baidu in talks with Indian e-commerce start-ups for funding

Baidu Inc, a Chinese web services company, is in talks to invest in Indian e-commerce start-ups including Zomato, BookMyShow and BigBasket, a spokesman for China's top online search provider said on Wednesday. "The Indian market represents an enormous opportunity for us to connect more people with services, and we plan to put more resources there in the future," the spokesman told Reuters by email. Baidu declined to comment on possible investment amounts or time frames. India's technology start-up market is booming as more and more people shop online, in a country where about 20 percent of a population of 1.3 billion are connected to the Internet. The e-commerce market could grow in terms of the value of goods sold to $220 billion by 2025 from $11 billion in 2015, Bank of America Merr...