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Network18 sells Burrp to BookMyShow in an all-cash deal
MUMBAI: Big Tree Entertainment, the owner of entertainment ticketing platform BookMyShow, has fully acquired Mumbai-based local food and restaurant recommendation engine Burrp in an all-cash deal from Network18.
The financial details of the deal have not been disclosed.
This Network18 divestment has been made to Foodfesta Wellcare, a subsidiary of Big Tree Entertainment. The acquisition includes transfer of Burrp’s key assets to BookMyShow, including employees and existing restaurant partnerships.
Incidentally, Network18 holds 39.35% stake in Big Tree Entertainment, as per the media company’s annual report.
Network18 board had on 19 April given in-principle approval to sell, dispose-off or transfer Burrp to any other entity including a related party/ getting a strategic investor.
Burrp was founded by Deep Ubhi and Anand Jain in 2006 and remains India’s oldest food tech company that helps people discover eating joints around them. It currently lists over 60,000 restaurants across 14 cities. In addition to listings, Burrp recently ventured into offer redemption and couponing, along with ticketing of F&B events.
BookMyShow head of M&A Mansi Vora said, “Movie watching in India has evolved tremendously over the last few years. At BookMyShow, we are not just delighted to have been a key part of this journey, but we are determined to continue to lead the way by offering an unparalleled experience to our users. Movie going in India is a social activity and food is an integral part of it. This is where Burrp fits in for us. We are excited to have Burrp on board and look forward to benefiting from their experience, technology and partnerships to offer a superior and comprehensive offering to our users.”
BookMyShow has been an early believer in the potential of food-related offerings to enhance movie-watching experience. It already offers its users the option to pre-book their F&B at cinemas while booking their movie tickets on BookMyShow. This way, users are able to choose from exclusively curated offers and combos, thus saving themselves the hassle while watching a movie. This vertical experienced a 6X growth between 2015–16 and 2016–17 on BookMyShow.
BookMyShow also offers MyCoupons—exclusive and free discount coupons that can be availed at popular restaurants and cafes in the vicinity of the cinema a user is visiting. With a validity of two days (including the day of the movie show), a user can pick up to two free MyCoupons right after making the seat selection on BookMyShow and redeem at their preferred restaurant or café, by simply showing the received email or SMS to avail fabulous discounts.
This offering is now present in over 80 cities across India. BookMyShow has partnered more than 2,100 food retail brands right from local city food joints to popular national chains including McDonald’s (Hardcastle Restaurants), Chaayos, Mainland China, Dunkin’ Donuts, Barbeque Nation, Subway, Bikanerwala, etc. to cover a combined 6,400+ outlets around 1,100+ cinemas across these cities.