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BookMyShow raises $100 million funding


Online movie and events ticketing portal BookMyShow, raised $100 million in its latest round of funding from a group of investors, on Wednesday. This will fuel the portals expansion.

The Series D funding was led by a new player TPG Growth, while existing investors also participated. TPG Growth is the mid-market and growth equity investment platform of US-based private equity firm TPG.

Bigtree Entertainment, the owner of online ticketing portal had raised about Rs 830 crore  from previous rounds of funding. Its existing investors are Stripes Group, Network 18, Accel Partners and SAIF Partners.

Founded by Ashish Hemrajani, Parikshit Dar and Rajesh Balpande, BookMyShow last raised Rs 550 crore in July 2016 from Stripes Group, Accel Partners, SAIF Partners and Network18 at a valuation of more than Rs 3,000 crore.

While movie tickets is core biz of BookMyShow, it is diversifying into sporting events, music events and plays.

Avendus Capital was the financial adviser to BookMyShow and Shardul Amarchand Mangaldas & Co was the legal adviser during the latest funding round.

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