Biography of Ashish Hemrajani: Co-founder & CEO of BookMyShow-Entrepreneur
Journey of Ashish Hemrajani and BookMyShow
Early Beginnings
Ashish Hemrajani, born in 1975 in Mumbai, India, grew up in
a family of considerable means. From a young age, he displayed an aptitude for
disciplined and effective use of his time, attributes that would later define
his professional journey. Hemrajani’s educational path began at Maneckji Cooper
Education Trust, a well-regarded institution in Mumbai. Following his
schooling, he pursued a degree at Mithibai College, one of the premier colleges
in Mumbai. His academic pursuit did not end there; he went on to earn an MBA in
Marketing from Sydenham College of Commerce and Economics in 1997, laying a
solid foundation for his future entrepreneurial ventures.
Initial Professional Experience
Post-MBA, Ashish Hemrajani entered the corporate world by
joining J. Walter Thompson, a prominent advertising agency. In this role, he
was involved in account and client management, where he honed his skills in
client relations and strategic planning. His time at J. Walter Thompson was
instrumental in shaping his business acumen and understanding of market
dynamics. This experience provided him with the tools and insights needed to
navigate the complexities of the business world.
Inspiration for Entrepreneurship
The idea of starting his own venture was ignited during a
trip to South Africa in the late 1990s. Inspired by the vibrant business
environment and driven by a burgeoning passion for entrepreneurship, Hemrajani
envisioned creating a platform that would revolutionize ticket booking in
India. This vision was further fueled by his observations of the growing
potential for internet-based services in the country. Determined to make his
idea a reality, he began laying the groundwork for his entrepreneurial journey.
Founding Bigtree Entertainment
In 1999, Ashish Hemrajani, along with his friends Parikshit
Dar and Rajesh Balpande, co-founded Bigtree Entertainment Pvt. Ltd. The company
was established with the aim of providing comprehensive entertainment ticketing
solutions. The initial phase was challenging, as the internet was still a
relatively new concept in India, and online transactions were not widely trusted.
Despite these hurdles, Hemrajani and his team persevered, driven by their
belief in the transformative potential of their idea.
Surviving the Dot-Com Bust
The dot-com bubble burst of 2001 posed a severe threat to
many tech startups, including Bigtree Entertainment. During this tumultuous
period, the company faced significant financial strain. To navigate these
challenges, Hemrajani made a strategic decision to pivot. Bigtree Entertainment
sold its Vista ticketing software and began providing backend ticketing
services to cinema theatres. This move helped the company stay afloat during
the economic downturn and maintain its operational stability.
Biography of Ashish Hemrajani: Co-founder & CEO of BookMyShow-Entrepreneur/ Bigtree Entertainment/Age/Net worth/Investor/Life story of Ashish Hemrajani
The Launch of BookMyShow
In 2007, recognizing the growing popularity of multiplexes
and the increasing penetration of credit and debit cards in India, Hemrajani
and his team launched BookMyShow. This online ticketing platform was designed
to simplify the process of booking tickets for movies, sports events, concerts,
and other live performances. BookMyShow was a pioneering initiative in the
Indian market, offering a seamless online ticketing experience at a time when
such services were still in their infancy.
Overcoming Early Challenges
The early years of BookMyShow were marked by significant
challenges. At the time of its launch, online payment systems were not widely
used in India, and many people were skeptical about making transactions online.
BookMyShow had to work diligently to build trust with users and demonstrate the
reliability of its platform. Despite these obstacles, the company gradually
gained acceptance as internet usage and digital payment systems became more
widespread.
Strategic Partnerships and Expansion
A major turning point for BookMyShow came in 2017 with a
landmark deal with PVR Cinemas, valued at ₹1000 crore. This agreement allowed
BookMyShow to sell unsold tickets online, significantly enhancing its reach and
profitability. The deal was a testament to the growing influence of BookMyShow
in the Indian entertainment industry. The company’s strategic partnerships,
including those with major cinema chains and sports leagues, played a crucial
role in expanding its market presence.
International Ventures
BookMyShow’s success in India provided a solid foundation
for international expansion. The company began exploring opportunities beyond
the Indian market, establishing a presence in several other countries. This
expansion allowed BookMyShow to tap into new markets and diversify its customer
base, further solidifying its position as a leading global player in the entertainment
ticketing industry.
Diversification of Services
In addition to movie tickets, BookMyShow diversified its
offerings to include tickets for a wide range of events, including sports
matches, concerts, and theatrical productions. This comprehensive approach made
BookMyShow a one-stop destination for all types of entertainment. The
platform’s ability to cater to diverse interests and preferences contributed to
its growing popularity and market dominance.
Strategic Acquisitions
To enhance its service offerings and expand its digital
capabilities, BookMyShow made several strategic acquisitions. Notable
acquisitions included nFusion, a platform specializing in HD video-on-demand,
and burrp!, a social lifestyle portal. These acquisitions enabled BookMyShow to
broaden its service portfolio and integrate new technologies into its
operations.
Awards and Recognition
Ashish Hemrajani’s leadership and BookMyShow’s success have
been recognized through various awards. In 2019, Hemrajani received the BW
Applause Person of The Year Award, and in 2018, he was honored as the
“Executive of the Year” at The Ticketing Business Awards. These accolades
reflect Hemrajani’s significant contributions to the entertainment industry and
his role in driving innovation within the sector.
Adapting to the COVID-19 Pandemic
The COVID-19 pandemic presented unprecedented challenges for
BookMyShow. In 2021, the company faced the difficult decision to lay off 200
employees due to the economic impact of the lockdown. Hemrajani publicly
expressed his regret over these layoffs and sought outplacement assistance for
the affected individuals. Despite the challenges, BookMyShow continued to adapt
and evolve in response to the changing market conditions.
The Launch of BookMyShow Stream
In February 2021, BookMyShow launched BookMyShow Stream, a
new platform offering online movie rentals and streaming services. Operating on
a Transaction Video-on-Demand (TVOD) model, BookMyShow Stream allows users to
access the latest movie releases from the comfort of their homes. This
initiative was part of the company’s strategy to adapt to evolving consumer
preferences and the ongoing impact of the pandemic.
Financial Milestones and Valuation
By 2024, BookMyShow had achieved a significant milestone
with a valuation of approximately ₹7,500 crore. This impressive valuation
reflects the company’s success in capturing a substantial share of the
entertainment ticketing market and its ability to adapt to changing market
dynamics. The company’s growth and financial performance underscore its
influential position in the industry.
Innovative Business Model
BookMyShow’s business model revolves around high-volume
ticket sales across various entertainment categories. The company’s success is
attributed to its innovative use of technology, strategic partnerships, and a
deep understanding of consumer needs. BookMyShow’s ability to continuously
innovate and adapt has been key to its sustained success in the competitive
entertainment market.
Cultural Impact
BookMyShow has had a profound impact on the way people experience
entertainment in India. The platform has transformed the ticket booking
process, making it more convenient and accessible. By providing a comprehensive
range of entertainment options, BookMyShow has influenced consumer behavior and
contributed to the growth of the entertainment industry.
Personal Life and Values
Despite his professional success, Ashish Hemrajani maintains
a relatively private personal life. He resides in Mumbai with his family, who
have been a source of support throughout his career. Hemrajani attributes much
of his success to the encouragement and support from his family and friends.
His values of discipline, hard work, and perseverance have been central to his
achievements.
Future Outlook
Looking ahead, Ashish Hemrajani and BookMyShow are poised to
continue their growth and innovation in the entertainment sector. The company
is focused on expanding its digital offerings, enhancing user experience, and
adapting to new market trends. With a strong foundation and a commitment to innovation,
BookMyShow is well-positioned for continued success in the future.
Legacy and Influence
Ashish Hemrajani’s journey from a young entrepreneur to the
CEO of a major entertainment platform is a testament to his vision, resilience,
and entrepreneurial spirit. His story serves as an inspiration to aspiring
entrepreneurs and highlights the impact of innovative thinking in transforming
industries. Hemrajani’s legacy is defined by his ability to turn a vision into
reality and make a lasting impact on the entertainment industry.
Conclusion
The journey of Ashish Hemrajani and BookMyShow is a
compelling narrative of entrepreneurial success. From overcoming early
challenges to achieving remarkable growth, Hemrajani’s leadership and the
company’s innovative approach have reshaped the entertainment ticketing
landscape. BookMyShow’s story is one of transformation, resilience, and
continued evolution, reflecting the dynamic nature of the entertainment
industry.
Ashish Hemrajani and BookMyShow Timeline
1975: Born in Mumbai, India.
1997: Earned MBA in Marketing from Sydenham College of
Commerce and Economics.
1997: Joined J. Walter Thompson, working in account and
client management.
Late 1990s: Inspired by a trip to South Africa, began
planning an entrepreneurial venture.
1999: Co-founded Bigtree Entertainment Pvt. Ltd., focusing
on entertainment ticketing.
2001: Navigated the dot-com bust by pivoting to backend
ticketing services.
2007: Launched BookMyShow, an online ticketing platform for
movies and events.
2017: Secured a ₹1000 crore deal with PVR Cinemas, expanding
market reach.
2021: Laid off 200 employees due to the COVID-19 pandemic's
impact.
February 2021: Launched BookMyShow Stream for online movie
rentals and streaming.
2024: Achieved a valuation of approximately ₹7,500 crore.
