Singapore-based Jungle Ventures has picked up a stake in BookMyShow SEA, which is owned and operated by Bigtree Entertainment Singapore Pte Ltd (BESPL). While investment details were not disclosed, BookMyShow said, it is their first ever external funding for the Southeast Asia business.
David Gowdey, managing partner, Jungle Ventures, said, "Entertainment experiences, particularly live events, are witnessing a strong growth in SEA and with a world-class team helming its SEA business, BookMyShow will help people find, buy and enjoy events across the region. The platform is poised to become the largest entertainment destination in the region and Jungle Ventures is excited to be a part of this story."
Post this deal, BookMyShow SEA wil shift its headquarters to Singapore for further expansion. The money raised will be deployed to strengthen its technology operations as well as enhancing capabilities to meet increasing demand for entertainment in the Southeast Asian region.
Kenneth Tan, chief executive officer – South East Asia, BookMyShow, said, onboarding Jungle Ventures will help enhance foothold in Southeast Asia and provide entertainment experiences to the audiences in this region.
"The out-of-home entertainment ecosystem in Southeast Asia has immense growth potential and this partnership is a testament to our vision. BookMyShow is at the forefront of the global entertainment landscape and technological innovation and along with an experienced investor in Jungle Ventures by our side, we aim to strengthen our capabilities to bring newer avenues of experiences, all executed at par with global standards,” he said.
BookMyShow entered Indonesia in mid-2016 expanding operations to other countries in the region including Singapore and Malaysia this year. The company has been focussing on creating and building the movies and live entertainment ecosystem across the region.
It also entered into a partnership with Southeast Asia’s leading super app, Grab, in 2019 to advance Grab’s ‘Super App’ strategy through the ticketing tile within the latter’s mobile app. The partnership has been a key driver in BookMyShow SEA’s localisation strategy to entrench itself deeply in the region’s entertainment ecosystem.
The company's Southeast Asia business works with partners to execute live event performances across music, sport and comedy as also distribute movies across the region. The company has played an important role in enabling shows and performances of marquee internationally acclaimed artists and events in the region.
(The writer is a Mumbai-based independent business journalist and has extensively covered diversified consumer businesses over the last two decades. He can be reached at hello@ashishktiwari.com)
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| David Gowdey |
Post this deal, BookMyShow SEA wil shift its headquarters to Singapore for further expansion. The money raised will be deployed to strengthen its technology operations as well as enhancing capabilities to meet increasing demand for entertainment in the Southeast Asian region.
Kenneth Tan, chief executive officer – South East Asia, BookMyShow, said, onboarding Jungle Ventures will help enhance foothold in Southeast Asia and provide entertainment experiences to the audiences in this region.
"The out-of-home entertainment ecosystem in Southeast Asia has immense growth potential and this partnership is a testament to our vision. BookMyShow is at the forefront of the global entertainment landscape and technological innovation and along with an experienced investor in Jungle Ventures by our side, we aim to strengthen our capabilities to bring newer avenues of experiences, all executed at par with global standards,” he said.
BookMyShow entered Indonesia in mid-2016 expanding operations to other countries in the region including Singapore and Malaysia this year. The company has been focussing on creating and building the movies and live entertainment ecosystem across the region.
It also entered into a partnership with Southeast Asia’s leading super app, Grab, in 2019 to advance Grab’s ‘Super App’ strategy through the ticketing tile within the latter’s mobile app. The partnership has been a key driver in BookMyShow SEA’s localisation strategy to entrench itself deeply in the region’s entertainment ecosystem.
The company's Southeast Asia business works with partners to execute live event performances across music, sport and comedy as also distribute movies across the region. The company has played an important role in enabling shows and performances of marquee internationally acclaimed artists and events in the region.
(The writer is a Mumbai-based independent business journalist and has extensively covered diversified consumer businesses over the last two decades. He can be reached at hello@ashishktiwari.com)
