E-commerce firm Flipkart is in talks to buy a large majority stake in online ticketing platform BookMyShow in a bid to expand its services and transaction offering.
Economic Times Newspaper reports that the talks are at a preliminary stage and may see Flipkart picking up a significant minority stake in BookMyShow, two people familiar with the discussions told the paper Flipkart, which secured nearly USD2.5 billion in funding from Japan’s SoftBank Group in August, did not respond to a request for comment.
BookMyShow is India’s biggest online movie and events ticketing brand. The website caters to ticket sales for movies, plays, concerts and sporting events via the online platform. Founded in 2007, it is headquartered in Mumbai, Maharashtra. It also has offices in New Delhi, Bangalore, Hyderabad, Chennai and Kolkata.
The entertainment company owned by Mumbai-based Bigtree Entertainment Pvt Ltd, with Ashish Hemrajani as its Chief Executive.
Flipkart is an electronic commerce company headquartered in Bengaluru, India. It was founded in October 2007 by Sachin Bansal and Binny Bansal. Flipkart has launched its own product range under the name “DigiFlip” with products including tablets, USBs, and laptop bags. As of April 2017, the company was valued at $11.6 billion.