Bookmyshow's Ashish Hemrajani's Success Story
When a new movie is launched in theatres or a concert by your favourite musician is scheduled, the first app that springs to mind for purchasing tickets is likely to be BookMyShow. Isn't that correct? This is the kind of impact that e-commerce companies have on our daily lives.
BookMyShow has become a household name in its business, particularly among the younger generation. It has become one of India's most successful firms, selling over 15 million tickets per month.
Have you ever wondered how Ashish Hemrajani, the co-founder of BookMyShow, and his other two partners were able to achieve such massive success?
The Success you know, the story you don’t
Hemrajani travelled to South Africa in 1999. He was working with J. Walter Thompson at the time. Ashish had the opportunity to participate in a wine tasting session while on his road trip, and what could be better than free drink while backpacking? But it was only a matter of time before the drink knocked him out, and he texted his boss to tell him he was quitting. Hemrajani discovered he was jobless the next day.
You might be shocked to learn that Hemrajani got the idea for an online movie ticketing software while hearing to a radio broadcast about South Africa's Rugby ticket promotion. Apparently, quitting a job was a bad mistake that turned out to be a fantastic chance for him. As a result, he began devoting his time and energy to the development of an online ticketing platform in India. In order to launch this app, Ashish requested two of his pals to leave their jobs and assist him in making his dream project a reality. And so, in 1999, Ashish established Bigtree Entertainment Pvt. Ltd with his two partners, Parikshit Dar and Rajesh Balpande. The company had many ups and downs at first, but Ashish persevered against all odds till his endeavour yielded positive results.
The company's fortunes changed dramatically when it secured its first large investment of Rs.2.5 crore from J.P Morgan. But Hemrajani's joy was short-lived, as the company suffered a major setback in 2002, with only 6 members remaining at the Bandra residence.
Despite the choppy waters, Bigtree Entertainment rebounded in March 2007, when Network 18 made a significant investment in the company.
Building BookMyShow
Bigtree Entertainment Pvt Ltd. officially launched BookMyShow in August 2007, and it has since grown to become one of India's largest online ticketing portals. With the rise of the digital ecosystem across the country, the portal swiftly gained traction and became the go-to destination for millions of people looking for dependable movie, sports, play, and music performance booking options.
BookMyShow was also named "The Hottest Company of the Year-2011-12."
Later in 2013, the company signed a five-year strategic collaboration agreement with PVR Theatres, adding 250 more screens to their 1500+ cinemas, which are currently managed by over 200 individuals and 150 outsourced personnel.
Secret behind the success of BookMyShow
BookMyShow has come a long way from struggling to get investors to being India's biggest online ticketing company. The tenacious determination of Hemrajani and his two buddies is undoubtedly a key factor in the company's success.
Despite experiencing many ups and downs along the way to success, Ashish never lost up on his dream of establishing an online ticketing service in India. Despite the barriers and hardships, Ashish and his companions remained tenacious and persevered.