Founding of BookMyShow: The Story of Ashish Hemrajani, Parikshit Dar, and Rajesh Balpande

BookMyShow, one of the largest and most successful entertainment ticketing platforms in India, was founded in 1999 by three young entrepreneurs: Ashish Hemrajani, Parikshit Dar, and Rajesh Balpande. Through a series of challenges and pivots, they have transformed a basic ticketing service into a comprehensive entertainment platform serving millions of customers across multiple countries.

Introduction to BookMyShow

BookMyShow began as a software reseller for movie theaters in 1999. Instead of selling tickets at box offices, it allowed customers to purchase movie tickets online, drastically reducing the need for long queues. Over the years, the platform grew to include event tickets for concerts, plays, and other entertainment activities, operating in India and several international markets. Today, BookMyShow is recognized as a leader in the entertainment ticketing industry, with a significant market share and a huge customer base.

The Idea Behind BookMyShow

The concept for BookMyShow was inspired by a backpacking holiday in South Africa. After completing his MBA and working at J. Walter Thompson, an advertising firm, Ashish Hemrajani spent his holiday sitting under a tree listening to radio advertisements for rugby tickets. This experience sparked an idea that would change his life. He envisioned a platform that could make it easier for people to purchase event and movie tickets online.

The Founding of BookMyShow

Ashish Hemrajani's journey began at the age of 24, when he decided to quit his job and start his own company. However, the early days were not easy. When he told his parents about his plans, they were skeptical and worried that he was going into the "black markets of ticket selling." Nevertheless, with their permission, Ashish launched his first internet venture from his bedroom. Soon, Parikshit Dar joined him to lead the technology side, while Rajesh Balpande took charge of the finance. Together, they became the three musketeers, working tirelessly to bring BookMyShow to life.

Challenges and Growth

The early years of BookMyShow were challenging. In 1999, online payment options were limited, and broadband connectivity was poor. The company faced losses due to a non-scalable business model. However, changes in the law eventually made it easier to sell tickets online. By 2002, BookMyShow was operating with a dozen call centers in 12 cities and had 150 employees. The dotcom bubble burst in 2000, hitting the startup hard. Despite the challenges, the company managed to thrive without any external investment for the next four years.

Market and Business Model

India's movie ticket booking market is highly promising. BookMyShow operates in an event ticketing space worth over 1000 crore per year. From a simple ticketing service in 1999, it has grown into a comprehensive platform, providing real-time seating availability, movie details, and ticketing services. The company's business model is based on handling fees, commission on ticket sales, and advertising. With exclusive access to APIs from Vista ERP, BookMyShow offers real-time ticket availability, which allows it to upsell and cross-sell other services such as parking, shopping, and retail.

Future and Growth

BookMyShow has successfully navigated various challenges and grown significantly over the years, becoming a market leader in entertainment ticketing. Its story is one of perseverance, innovation, and adapting to the changing landscape of technology and the entertainment industry. Today, BookMyShow continues to serve millions of customers, providing a one-stop solution for all entertainment needs.

For more information about BookMyShow and its journey, visit BookMyShow's official website.