Madison Square Garden Company makes big investment just months after AEG enters market
Sign up for IQ Index
The latest industry news to your inbox.
Leading Indian ticketing platform BookMyShow prepares to break US$1bn valuation mark following stake sale
By Anna Grace on 30 Jul 2019
India’s leading ticketing platform BookMyShow is making moves in the esports sector, as the company’s valuation looks set to surpass $1 billion.
The Indian ticketing company has recently made hires within its new esports category.
BookMyShow’s foray into the fast-growing esports market began in December, when the company provided ticketing for the Mumbai edition of international esports festival Dream Hack.
The ticketer joins a long list of music industry businesses to dip their toes into the esports sector.
Companies that have invested in, or partnered with, major esports competitions and teams in recent years include DEAG, AEG, Creative Artists Agency (CAA), TEG in Australia and Madison Square Garden Company (MSG).
The ticketer joins a long list of music industry businesses to dip their toes into the esports sector
The development comes as BookMyShow prepares to sell a stake which will see its valuation surpass the US$1 billion mark.
The 10 to 12% stake is being eyed up by investors including private equity firm General Atlantic, investment bank Goldman Sachs and Singaporean sovereign wealth fund Temasek, which owns a stake in CAA.
BookMyShow has raised over $220m in funding since 2007, most recently receiving $100m in a round led by CAA majority owner, TPG.
The ticketing giant has established a presence outside India in recent months, signing a five-year partnership with Dubai’s Coca-Cola Arena in May.
BookMyShow is also looking to move into cashless event payments, following an April investment in payment technology firm AtomX.
Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.