KKR Acquires $250M Stake in BookMyShow
Investment to fuel expansion of Indian entertainment platform's live entertainment business, adding to KKR's global media portfolio
KKR has acquired a minority stake in BookMyShow, an Indian entertainment platform, to support its next phase of growth. The investment, reportedly worth $250-300 million, will help BookMyShow expand its live entertainment business and develop its full-stack entertainment offering across India.
The largest shareholder of BookMyShow is Reliance unit Network18, holding a 39% stake. Other existing investors in the company include Accel, Elevation Capital, Stripes Group, and TPG Growth.
Ashish Hemrajani, founder and CEO of BookMyShow, welcomed KKR's investment, citing the firm's global perspective, expertise, and understanding of consumer businesses as valuable assets for the company's next phase of growth. Hemrajani noted that the timing of the investment is particularly exciting, given the significant expansion of BookMyShow's presence in the live entertainment landscape and the growing opportunity for India's entertainment economy.
KKR's investment in BookMyShow adds to its global media and entertainment portfolio, which includes notable companies such as Internet Brands, ByteDance, Chord Music Partners, Epic Games, PlayOnSports, OverDrive, Superstruct, and Simon & Schuster. The firm has also invested across various sectors in India, with its portfolio including Medicover India, Lighthouse Learning, Vini Cosmetics, Healthcare Global Enterprises, Darwinbox, and Rebel Foods.
## Why it matters The investment in BookMyShow is significant, as it underscores the growing importance of India's entertainment economy. With KKR's support, BookMyShow is poised to further expand its live entertainment business, catering to the increasing demand for entertainment services in the country. The deal also highlights KKR's commitment to investing in India's growth story, with the firm having invested in various sectors across the country.
The partnership between KKR and BookMyShow is expected to drive growth and innovation in India's entertainment industry, with potential benefits for consumers, businesses, and the economy as a whole. As the entertainment landscape in India continues to evolve, the collaboration between KKR and BookMyShow is likely to play a significant role in shaping the industry's future.
