In yet another move to expand in the digital space, Web18, TV18 Group’s Internet arm, has acquired a majority stake in Bigtree Entertainment Pvt Ltd, which specialises in movie and entertainment ticketing. Web18 is expecting its investment to further strengthen in the Internet and mobile transactions space with this.
According to Haresh Chawla, CEO, TV18 Group, “This acquisition is in line with our strategy to strengthen our position in the consumer Internet space. The Internet and mobile market is a key to the Group’s future and growth.”
He further said, “Web18’s vision is to be the leader in consumer Internet space. With the rapid increase in the number of multiplexes nationwide, digital screens and a host of other entertainment options, including live shows, we believe that a Web18- BigTree partnership is best positioned to build a brand that will become the destination for entertainment ticketing for cinema, live entertainment, sporting and shows.”
BigTree Entertainment is an entertainment ticketing applications and solutions provider. The company was founded in 1999 and offers integrated entertainment ticketing solutions. Web18’s position in the e-transactions space, both on the computer as well as mobile phones, is looking to get a considerable boost through this. The company had acquired a significant stake in Yatra.com and Jobstreet.com in India a few months ago.
Ashish Hemrajani, founder-CEO, BigTree, said, “I am confident we have found the perfect partner in Web18, who believes in the business and understands what it takes to build a successful and sustainable organisation in India. With a sharp team backing TV18’s media and online businesses, we at BigTree believe we can draw tremendously from those strengths and have some fun along the way in building India’s largest entertainment ticketing company.”
“We will put in the necessary infrastructure, quality of service and marketing to ensure that consumers can reach us over voice, data and location options, be it a mobile phone, computer, landline phone or a convenient location,” added Hemrajani.