2024-09-28 17:37:24
New Delhi: Mumbai Police has issued summons to BookMyShow CEO and co-founder Ashish Hemrajani. Book My Show is a platform for selling tickets online. This summons has been issued to Ashish on charges of black marketing of tickets. Ashish is accused of selling tickets for next year’s ‘Coldplay Concert’ at an expensive price. Ashish is the owner of billions of rupees.
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What is the matter of black marketing?
Coldplay band will perform in Mumbai in January next year. Tickets for this were sold on Book My Show. Lawyer Amit Vyas has accused Book My Show of black marketing for this concert. In this matter, Amit had lodged a complaint with the Economic Offenses Wing (EOW) on Thursday. Tickets have been sold at 30 to 50 percent higher prices. They are also accused of selling tickets worth Rs 2500 for up to Rs 1 lakh.
Idea came under the tree
Ashish got the idea of Book My Show under a tree. Actually, after working for two years, he went to South Africa for a holiday. There he was sitting under a tree in his free time, listening to a program on the radio. In that programme, he heard an advertisement for tickets to a rugby game. Here he got the idea that why not do something similar for movie tickets also. His entire plan was ready before returning to India.
Company started in the year 1999
Ashish along with two friends started a company named Big Tree Entertainment Private Limited in the year 1999. At that time the spread of internet in the country was not very much. Forget smartphones. There was also no application for online payment. In such a situation, Ashish faced many challenges. After some time the name of the company changed to Go for Ticketing. At that time there was a lot of demand for dot com industry. In such a situation, JPMorgan Chase sold all its shares of Go for Ticketing to News Corporation. Now the brand name of the company became India Ticketing.
This is how the company boomed
In the year 2002, there came a time when the entire market of dot com industry had crashed. This also affected Ashish’s company. Only 6 people were left in this company with more than 150 employees. The situation had even reached the point of closing the company. Call centers started in many cities had to be closed.
In the year 2006 came the era of debit cards and credit cards. Net banking has started. The number of theaters and multiplexes also increased significantly. Ashish’s company also benefited from this. In the year 2007, he changed the brand name of the company to ‘Book My Show’. In the year 2011 itself, the company reached new heights and achieved a revenue of about Rs 16 crore. After this Ashish did not look back.
What is Ashish’s net worth?
Ashish was born in the year 1975. His school education was completed from Manekji Cooper Education Trust located in Juhu. After this, he did graduation from Mithibai College and MBA from Sydenham College of Commerce and Economics. After studies, he started working in advertising company J Walter. According to some media reports, Ashish’s net worth is more than Rs 3 thousand crores. The estimated valuation of his company Book My Show is Rs 7500 crore.