BookMyShow Acquired Restaurant-Discovery Platform Burrp
Online ticketing platform BookMyShow, in which Reliance Industries-controlled Network18 holds a sizeable stake, has recently acquired restaurant-discovery platform Burrp, another Network18-owned firm.
Burrp would continue to run as a separate entity said Bigtree Entertainment Pvt. Ltd, which runs BookMyShow.
The Network18 divestment was made to Foodfesta Wellcare Pvt. Ltd, the BigTree subsidiary that owns and operates BookMyShow, a press statement said.
The companies did not reveal the value of the all-cash deal, but a report in The Economic Times called it a “slump sale” and pegged it at a meagre Rs 6.7 lakh.
Mansi Vora, head of mergers and acquisitions at BookMyShow, said, “Movie going in India is a social activity and food is an integral part of it. This is where Burrp fits in...