Entertainment ticketing portal, BookMyShow, owned by BigTreeEntertainment has acuired Bengaluru based social media analytics firm Eventifier. The deal values Eventifier at $2 million.
“Eventifier solves a larger problem of social media, which is fragmented today but is extremely critical to any business need. Companies need to connect the dots on how consumers sitting on various social media platforms are relevant to them,” said Ashish Hemrajani, co-founder & CEO of Bookmyshow to The Economic Times.
As part of the deal, the existing investors in Eventifier—Kae Capital, Accel Partners and The Startup Centre—will be exiting the company.
Eventifier was founded in 2012 by Jazeel Ferry. The company offers solutions that are used to consolidate, track, analyze content feed on social media platforms generated during a targetted social media campaign.
“This is a strategic way for us to get bigger,” said Eventifier CEO Ferry to The Economic Times. “Bookmyshow is moving forward in the social media space. That’s where we will come in and help them.”
Current trend indicates that there is a growing appetite amoung well funded companies to acquire smaller comapnies as they look to enter newer markets.Newshunt,Cardekho and FreeCharge are also said to be eyeing such acquisitions.