Bigtree Entertainment, which owns movie and entertainment ticketing portal BookMyShow, has raised ₹550 crore ($80 million) led by US-based growth fund Stripes Group in one of the largest rounds of funding for an Indian internet company this year.
The deal, in which existing investors Network18, Accel Partners and SAIF Partners participated, has valued the Mumbai-based company at ₹3,000 crore, marking it over three-fold jump in valuation from two years ago when it last raised money .
At present, BookMyShow makes 60% of its revenue from movie ticketing, and the rest from sports, live shows and plays. At the end of March 2015, it had an average of 42 million visits per month and sold over 4.5 million tickets every month. In 2015-16 it sold 100 million tickets.
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