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Flipkart in talks to pick up a minority stake in Bookmyshow

The leading two ecommerce companies, Flipkart and Bookmyshow are joining hands to take on PayTM

Flipkart is in talks for picking up a minority stake in India`s leading ticketing platform BookMyShow to perhaps take on PayTM which has been steadily growing its ecommerce offerings and has become a sizeable player in the online ticketing category.

Earlier in the year PayTM had picked up a stake in an another sizeable ticketing platform, which is part of the Only Much Louder.

Bookmyshow which is led by the dynamic Ashish Hemrajani had raised Rs 550 crore last year led by Stripes Group which has put a value of over Rs 3,000 crore for the Bookmyshow platform. The other investors of Bookyshow include Network18, SAIF Partners and Accel India.

Bookmyshow was founded in 1999 is now present in over 350 towns and cities across India. It has previously raised funds in 2007, 2012 and 2014.

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