|BookMyShow raises USD $100 million in Series D funding led by TPG Growth|
Mumbai – July 18, 2018 – Bigtree Entertainment Pvt. Ltd., which owns and operates BookMyShow, announced today it has executed definitive documents to raise USD $100 million in Series D funding led by TPG Growth, the middle market and growth equity investment platform of alternative asset firm TPG. The round also saw participation from existing investors. This fresh infusion of funds will fuel BookMyShow’s growth plans as it transforms into the ultimate ‘Entertainment Destination’ for its customers.
Ashish Hemrajani, Founder and CEO, BookMyShow said, “BookMyShow is excited to welcome TPG Growth as our newest partner. They bring with them extensive experience across the global media and entertainment sector, which will be instrumental as we look to accelerate our growth plans in this space. The strategic value that all our investors continue to provide us will also be of immense importance as we begin a new chapter of our standout story.”
“TPG Growth is committed to partnering with dynamic companies and entrepreneurs that are at the forefront of global media and entertainment,” said Bill McGlashan, TPG Growth Founder and Managing Partner and Co-Founder and CEO of The Rise Fund. “BookMyShow has a tremendous chance to transform how Indian consumers discover and experience entertainment, and we’re looking forward to working with Ashish and the team to capitalize on this opportunity.”
“Traditionally dominated by movies, India’s entertainment industry is rapidly changing and expanding, driven by factors such as rising income levels, growing consumer appetite, and higher internet usage,” said Akshay Tanna of TPG Growth. “In partnering with BookMyShow, we saw the opportunity to invest behind an innovative company that is set to benefit from these trends and become the leading organization across entertainment genres.”
For many years, TPG Growth has been actively engaged in the global media and entertainment landscape. Across funds, TPG’s portfolio in the sector includes Cirque du Soleil, Creative Artists Agency (CAA), Moretickets, Spotify, STX Entertainment, and Vice Media.
Avendus Capital was the exclusive financial advisor to BookMyShow and Shardul Amarchand Mangaldas & Co. were the legal advisors representing the company during this round.
BookMyShow works with partners across the industry to provide unmatched entertainment experiences to millions of customers, on par with global entertainment standards. It is constantly innovating to increase its ownership share in the Indian entertainment value chain by relying heavily on its analytic capabilities and incisive understanding of customers. BookMyShow has produced music concerts and theatricals, introduced audio entertainment service Jukebox, built India’s largest organic reviews and ratings engine for movies and has driven technology innovations, such as the m-ticket, impacting both users and the industry at large.
Since its launch in 2007, BookMyShow has been committed to its customers. With investments from TPG Growth, Stripes Group, SAIF Partners, Accel Partners and Network 18, BookMyShow is invested in providing the best user experience, whether it’s on ground at an event or online. Demonstrating category leadership, BookMyShow has expanded its operations to Sri Lanka and Indonesia and has invested in companies including Do-It-Yourself events registration and ticketing platform Townscript and Fantain, a fantasy sports platform for Cricket and Kabaddi. It is also committed to society at large by way of their charity initiative BookASmile, which provides entertainment experiences to the underprivileged. For more information, please visit www.bookmyshow.com
About TPG Growth
TPG Growth is the middle market and growth equity investment platform of TPG, the global alternative asset firm. With approximately $13.2 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources, and global experience to drive value creation, and help companies reach their full potential. The firm is backed by the resources of TPG, which has approximately $84 billion of assets under management. For more information, visit www.tpg.com.
BookMyShow: Arushi Maheshwari | firstname.lastname@example.org | + 91-8802999023TPG: Snigdha Nair | Adfactors PR | email@example.com | +91 9920481191