Inspiring entrepreneurial success stories: Bookmyshow – Hemrajani
The serpentine queues in the front of movie theatres to get tickets, the disappointment at the ‘housefull’ board, the desperate attempts to get inside the cinemas are all slowly fading into obsoleteness. Today, booking a movie ticket begins and ends with a click of a button. The way we watch movies has undergone a paradigm shift in the last decade. And the credit of almost single handedly ringing in effortless movie watching experience for the Indian viewers goes to Bookmyshow. An idea is born In 1999, Ashish Hemrajani, went on a trip to South Africa; a trip that would change his life and the pave the foundation for a multi million dollar company. It was during this time, while listening to radio, that the first seed of Bookmyshow conceptualized
in his mind. After researching and developing a strategy, Hemrajani, at the age of 24, launched his first internet venture, Bigtree Entertainment Pvt. Ltd. Soon after, his friends Rajesh Balpande and Parikshit Dar joined the company. They started their venture under the brand name ‘Go For Ticketing’, which they later named ‘India Ticketing’ and finally to ‘BookMyShow’. Trying times Poor broadband connectivity, meagre usage of credit cards, debit cards and net banking, and single screen theatres were the major hindrances during the initial phase of the company. Hemrajani would buy tickets in bulk and sell it to customers by delivering them on motorbikes. In spite of all the difficulties, the business thrived. Not for long though. In 2002, the tech bubble burst and many businesses, small and big were hit. ‘Big Tree Entertainment' was one among them. The business nose-dived as their investors pulled back. They were forced to shut down offices, cut down employee salaries and downsize the teams. They had to tighten their strategies, curtail the expenses and put back every penny earned to maintain their cash flow. The tide turns However, Hemrajani and his team never gave up, and finally their persistence was rewarded. As the IT sector stabilized, India began to make giant leaps in technology; internet connectivity, usage of credit/debit cards, and the net banking infrastructure improved. Urban cities witnessed the blooming of multiplexes and multiple screen movie centres. Bigtree Entertainment Pvt. Ltd. became software solution providers that sold automated ticketing software to these multiplexes They also provided backend ticketing services to cinema theatres. There was a rapid rise in the business and the value of the company rose. The entrepreneurial climate of the country had started to shine again and the stage was set to launch their idea. Triumph of conviction In 2007, Network 18 invested 14.5 Crores in their venture, paving way for the revival of the ticketing business again. From that juncture, there was no looking back for Hemarajani. ‘BookMyShow.com’, an entertainment ticketing company that provides online booking for movies, plays, sporting events and shows, was born. BookMyShow quickly gained momentum and became a huge success. They brought
multiplex chains like PVR, INOX and Cinepolis on the portal, making the brand hugely popular in urban areas. It expanded to global markets like Malaysia and New Zealand. It also expanded to other spheres and served as a ticketing partner for Formula-1, Indian Premier League, Aircel Chennai Open among many others. It is a fairy tale story of a youngster turning his dreams into a multi-million dollar venture. But behind his stupendous achievement is determination, persistence, hard work and foresight; aspects that made Ashish Hemrajani one of the most inspiring entrepreneurial success stories of the country. #BusinessMentorIndia #BusinessCoachIndia #BusinessCoachMentorIndia #BusinessMentorForEntrepreneursIndia #BusinessMentorForEntrepreneurs #BusinessEntrepreneurship #BusinessMentor #BusinessCoach #BusinessEntrepreneurshipIndia #SarathyMentor #SarathyCoach #BusinessMentorForEntrepreneurInMumbai #StartupMentor #StartupCoachInIndia #MentorForStartups #BusinessCoachandMentorIndia #BusinessCoachandMentorsIndia #StartupBusinessMentorIndia #StartupMentorCoachIndia