Home >> Digital >> Article

PMAR 2018: Ashish Hemrajani of BookMyShow on the challenges and beauty of the Internet business

21-February-2018
Font Size   16
PMAR 2018: Ashish Hemrajani of BookMyShow on the challenges and beauty of the Internet business

Ashish Hemrajani, Founder-CEO, BookMyShow, while speaking during the recent unveiling of the Pitch Madison Advertising Report 2018 warned internet entrepreneurs who see themselves as investors, who start companies only to exit it.
“Isn't that the purpose of any enterprise?" He asked "To take value from society, create value for themselves, give something back and make some profit in between" he continued.

Further while speaking about the almost 20 years of journey of BookMyShow, Hemrajni told how difficult it became at one point for him to keep the company afloat.

“I found it- BookMyShow, about 19 years ago, lesson one that I learnt was businesses are not built as sprints but they are built as marathons. We have been around for close to 20 years and most internet entrepreneurs of e-commerce companies today start thinking like investors, that they want to start a company to exit so that they can make money. I don't think you people have built all these companies to exit,” he said.

Hemrajani also said that he believes that an entrepreneur only leaves a company when he retires.

”Most internet entrepreneurs today start a business because they think that they will make money quickly, if that is the case then they should be in the stock market,” he said.

While narrating the story of how he founded BookMyShow, Hemrajani started by mentioning his trip to South Africa, Zimbabwe and Botswana with a backpack, and shared how BookMyShow faced a turbulent journey, but belief in himself and being good to people helped him to get the company back on track.

"While on the trip one afternoon something smashed and I sent a text message to my boss and said I am quitting she said 'OK' and here I am running a business for the next 19 years. I got investment from Chase Capital Partners, JP Morgan in 1999 and in 2001 we were invested by News Corp,” he said.

The beauty of the internet business is that as your cost curve flattens your revenue curve keeps growing up and that's why the valuations are so high, he said.

"For most of the businesses, the input cost curve keeps going up as the revenue goes up but that wasn't happening for us in those days, and the reason was that even though we are a website, 98% of  bookings came from the call centre," he said. 

Watch Ashish Hemrajani’s full speech:



The MD of Sai Estate Consultants, Chembur, on their marketing strategy, adopting a carpet bombing approach, response to the Wajood app and why he now allocates maximum of his marketing spends on digital

Prachi Mohapatra on fbb’s latest campaign, one-year after going omni-channel, and its growing reliance on content marketing

The marketing head of Greenpanel on marketing approach and how the company is working towards educating consumer about MDF

BookMyShow, Uber, Chumbak, Viacom18 and Radio City are some of the clients of the company

right
left
KARAN THAPAR & SHEKHAR GUPTA DISCUSS JOURNALISTIC ETHICS AT THE PRINT’S ‘OFF THE CUFF’ WOMEN ECONOMIC FORUM AWARDS 2018 RECOGNIZE WOMEN LEADERS OF THE DECADE THE 6TH EDITION OF IAA AWARDS RECOGNIZES THE WORK OF INDUSTRY PROFESSIONALS 11 INDUSTRY EXPERTS PRESENT  THEIR FAVOURITE DIGITAL CASE STUDIES @AD CLUB’S ‘D-CODE BUSINESSWORLD LAUNCHES 14TH EDITION OF MARKETING WHITEBOOK IN MUMBAI INDUSTRY VETERANS CHEER AS ADMAN AMBI PARAMESWARAN LAUNCHES NEW BOOK SPONG AAAI HONOURS VETERAN ADMAN RAM SEHGAL WITH THE 2018 LIFETIME ACHIEVEMENT AWAR PITCH TOP 50 BRANDS 2018 AWARDS COMPANIES WITH BEST MARKETING PRACTICES TEAM BBDO ORGANIZES AJAI JHALA’S FAREWELL WITH FRIENDS & ASSOCIATES RADIO CITY CELEBRATES ITS 17TH ANNIVERSARY WITH CONCERT, AWARDS AND FUN 5TH EDITION OF TIMES NOW & ICICI BANK’S NRI OF THE YEAR AWARDS GLOBAL INDIANS PITCH CMO SUMMIT BENGALURU SEES TOP INDUSTRY LEADERS AND MARKETERS IN ATTENDANCE DISTINGUISHED JURY COMES TOGETHER TO PICK WINNERS FOR PITCH’S TOP 50 BRANDS PITCH CMO SUMMIT BANGALORE SEES TOP CMOS ACROSS INDUSTRIES IN ATTENDANCE 1ST REPUBLIC TV GULF INDIAN LEADERSHIP SUMMIT & AWARDS HONOUR STALWARTS OF INDIAN GULF BUSINESS COMMUNITY SONY YAY! CELEBRATES ITS FIRST BIRTHDAY WITH PARTY FOR TRADE PARTNERS THOUGHT LEADERS AND TOP DIGITAL MARKETERS SPEAK @ EXCHANGE4MEDIA GROUP’S TECHMANCH 2018 IN MUMBAI EXCHANGE4MEDIA’S IDMA 2018 RECOGNIZES INDUSTRY’S BEST DIGITAL MARKETING CAMPAIGNS REALTY PLUS UNVEILS COFFEE TABLE BOOK AT 10TH CONCLAVE & EXCELLENCE AWARDS @AHMEDABAD EMINENT JURY CONGREGATES TO PICK WINNERS OF INDIAN DIGITAL MARKETING AWARDS 2018

Experts from the advertising industry revealed their mantra for publishers at a recent event held in Delhi

Competition Vs Collaboration. Experts discuss which will help both digital and traditional media produce best results

He is said to be considering various offers and will take a decision soon