India’s largest online entertainment ticketing company BookMyShow has
announced that it has acquired Nfusion for an undisclosed
amount in an all cash deal. This comes at a time when BookMyShow after
redefining the movies and events ticketing space, is well on its path to become
the ultimate entertainment destination for users.
Nfusion was set up in Middle East in 2009 by Shoaib G.M. Khan,
Sivagurunathan S and Prabhakar Reddy as a HD video-on-demand platform which
allowed its users to stream videos online. While Shoaib (alumnus of BITS
Pilani), designed, built and managed the end to end media platform, Prabhakar
(alumnus of BITS Pilani and Harvard Business School) led the Product,
Monetization and Business Development at Nfusion. Sivagurnathan (alumnus of
BITS Pilani and IIM Bangalore) designed and managed the information security
and infrastructure for Nfusion's media portal.
Nfusion’s scalable tech solutions, especially CMS (content management
system), will be key to the success of BookMyShow’s foray into audio
entertainment. The acquisition not just provides BookMyShow a robust tech
platform but also an experienced team which will provide a fillip to
BookMyShow’s audio entertainment offerings. While the Nfusion team will be
headed by Shoaib, Sivagurunathan will lead the Architecture and Devops teams at
BookMyShow.
Parikshit Dar, Director, BookMyShow said, “We have already established our video content vertical and are
now excited to foray into audio entertainment through our offering ‘Jukebox’.
The Nfusion team has brought with them immense experience, innovation
capability as well as expertise in building and managing scalable tech
solutions. With them and our music label partners, we look forward to
offering the widest variety and possibly the best curated audio content to our
users.”
Through Jukebox, BookMyShow already offers free music downloads to its
users. Anytime users book movie tickets on BookMyShow, they are rewarded with
music credits which can be redeemed to download their favorite songs on the
Android or iOS app. Currently, BookMyShow offers over 1.5 million songs to
choose from and has already been witnessing 300% growth m-o-m in the number of
downloads.
To lead this vertical, BookMyShow has appointed Aditya Kuber as
Associate Vice President – Audio Entertainment. He will report to BookMyShow
CEO and Founder, Ashish Hemrajani. Aditya’s role will be instrumental in driving partnerships with music
labels and distributors, creating exclusive audio content for BookMyShow users,
and product marketing. He brings with him over 17 years of experience and has a
demonstrated history of working across media, publishing, digital, and
advertising.
No comments:
Post a Comment