BigTree Entertainment's flagship brand, BookMyShow, an entertainment ticketing website, has acquired a majority stake in Eventifier, a Bengaluru-based social media analytics startup, for around $1 million (roughly Rs. 6 crores). The deal values the startup at $2 million (roughly Rs. 12 crores).
The acquisition of the stake by BookMyShow will see investors of Eventifier, namely Kae Capital, Accel Partners, and The Startup Centre, make an exit from the startup. The firm will however, continue to operate independently and serve its earlier clients, which have included Pearson, Clinton Foundation, and Nasa, said Jazeel Ferry, founder and chief executive at Eventifier in a statement (via LiveMint).
"Eventifier will complement BookMyShow's social needs in the cinema and events space, but over time will integrate as part of BookMyShow's larger strategy for diversified business offerings," said Ferry.
"We really liked their vision and what they were looking to solve and we felt that we might be able to help along the way in achieving their goals," added Ashish Hemrajani, founder & CEO, BookMyShow (via VCCircle).
For those unaware, Eventifier offers software solutions to help track and analyse content on social media platforms during a targeted social media campaign. The startup is said to cater to over 1,500 clients. Jazeel Ferry (CEO), Nazeem Zishan (CTO) and Mohammed Saud (chief designer) founded the company in 2012.
Livemint notes that Eventifier is BigTree Entertainment's second acquisition after TicketGreen in two years. The acquisition was made in March 2013.
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