BookMyShow acquires majority stake in TribeVibe
BookMyShow’s investment will help TribeVibe achieve 4X increase in revenue
BookMyShow has made an undisclosed investment for a majority stake in TribeVibe, a one-stop solution for college festival entertainment. Through this investment, BookMyShow brings the market of college entertainment into its fold, targeting students and potential first jobbers at scale.
BookMyShow’s investment will aid TribeVibe’s growth trajectory with a 4X increase in revenue targeted over the next year. The partnership will enable a deepened engagement with India’s large and vibrant student community as also potential first jobbers which is an integral segment of entertainment seekers across the country.
Founded in 2019, TribeVibe was launched with an aim to revolutionise the college festival experience.
Commenting on the investment, BookMyShow Founder and CEO Ashish Hemrajani said, “With our strategic investment in TribeVibe, we aim to serve the market of college entertainment and bring young students and potential first jobbers into our fold. Having built a strong brand value and outreach capabilities, TribeVibe brings forth an as-yet non-addressable market for BookMyShow and has enabled us to successfully tap into this promising category with an extremely high audience engagement.”
Adding to this, TribeVibe Founder and CEO Shoven Shah said, “We are excited to further our long-standing partnership with BookMyShow which is India’s ultimate holistic entertainment platform, and take our proposition to the next level by leveraging their expertise, industry experience and proficiency even as we target a 4x increase in our growth over the next one year. Together, we aim to transform the long-tail of the student and potential first jobbers’ ecosystem in entertainment, enabling brands to reach the right audiences early on.”
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