The founders of IndianStage will join the Explara management team
Explara, the online event discovery and ticketing platform, has acquired Bangalore-based entertainment ticketing company IndianStage. The amount of the deal has been undisclosed, but it is combination of cash and equity.
The founders of IndianStage, Baskar Ethirajan and Sajesh Nair, will join the Explara management team. The sales and business development team of IndianStage across various cities will continue to drive the business under Explara.
This acquisition will support Explara’s recently launched solution for personalised recommendation and broader discovery based on user interest.
Santosh Panda, CEO of Explara said, “Like Explara, IndianStage has been a early entrant to the event ticketing space and embodies the same passion for offering simplified and do-it-yourself solution to small and medium event organisers. With this acquisition, we expect the multi-fold growth in supply side and consumer demand in next 24 months.”
He also mentioned that IndianStage customers will be steadily transitioned to Explara’s solutions platform. The site will remain operational and it might get a new avatar to stay connected to the entertainment community.
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Earlier this year, Blume Ventures invested in IndianStage along with Google India MD Rajan Anandan. Karthik Reddy, Managing Partner of Blume Ventures said, “We continue to be believers that the events, ticketing and entertainment space is hugely under-represented beyond the Indian market leader today, which is focussed on movies and large format events. As investors in both companies, we are delighted to see them come together and we think they will build a multi-hundred crore GMV business quickly from this point.”
The online ticketing industry is worth around US$50 billion worldwide, hence it offers a huge opportunity to various players in the segment. There are companies such as Eventbrite, Kyazoonga and MeraEvents that stand as the biggest competitors for Explara.
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