Flipkart in talks to pick up a stake in BookMyShow

Flipkart is in talks for a strategic partnership with ticketing platform BookMyShow. The talks, which are at a preliminary stage, may see the Tiger Global-backed ecommerce player pick up a significant minority stake.
  • Flipkart along with BookMyShow and PhonePe with which Flipkart is building their payment platform is an equal competition to Paytm’s business. 
  • The next step for Flipkart would be to become a video platform like Amazon Prime Video.
  • Flipkart’s partnership to introduce an entertainment offering, is the latest amongst the top 3 ecommerce players moves to build out integrated service verticals in ecommerce marketplace.
  • India’s ecommerce giants moving to build their service vertical follows a model that China’s Alibaba has set in motion. 
BookMyShow is focusing on local language content for both its video and audio platforms to penetrate better in tier 2 and 3 towns, a move that will prove to be vastly beneficial for Flipkart given its attempts to serve deeper in the smaller towns. 
Source: http://bit.ly/2ysfbKL

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