Bigtree Entertainment valued at more than Rs 3000 crore in latest funding round

Bigtree Entertainment, the parent company of India’s biggest movie and entertainment ticketing portal BookMyShow, has been valued at more than Rs 3000 crore in the latest funding round.

The company also raised over Rs 550 crore, mostly by US-based growth fund Stripes Group, in what could be called as one of 2016’s largest rounds of funding for an internet company.

The round also saw an active participation from all the existing investors of the company, viz. Network 18, Accel Partners, and SAIF Partners.

"We will continue to invest in enhancing user experience through our data analytics engine , and building contextual entertainment content including videos, reviews, discovery," Ashish Hemrajani, CEO and cofounder of BookMyShow, told ET.

Hemrajani added that they now have enough capital to invest in strengthening its leadership position for the coming three years.

The funding raised in this round is more than double of the total capital that the company raised over the last six years.

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