BookMyShow CEO Ashish Hemrajani has been asked to appear today before the investigating officer to record his statement.
Ashish Hemrajani, chief executive officer and the co-founder of BookMyShow has been issued a fresh summon by the Mumbai Police’s Economic Offences Wing (EOW) over the alleged black marketing of tickets for the concert by British rock band Coldplay. To recall, Hemrajani was on called them for questioning earlier also. The police have initiated a probe on the complaint of an advocate, Amit Vyas, who accused the ticketing platform of facilitating the black marketing of tickets for the Coldplay concert at Navi Mumbai’s DY Patil Stadium from January 19 to 21 next year.
What is the matter?
The Mumbai police initiated a probe on the complaint of an advocate, Amit Vyas, who accused the BookMyShow of facilitating the black marketing of tickets for the Coldplay concert at Navi Mumbai’s DY Patil Stadium from January 19 to 21 next year.
Vyas has alleged that Coldplay’s India tour tickets, which were originally priced at Rs 2,500, are being resold by third parties and influencers for as much as Rs 3 lakh. He alleged that BookMyShow deceived the public and Coldplay fans, and is seeking a case to be registered against the company on fraud charges.
BookMyShow: Founded in 1999
Ashish, along with two friends, started a company named Big Tree Entertainment Private Limited in 1999. During that time internet penetration in the country was quite limited. Smartphones, online payments were alien to the people. These issues posed serious challenges to Ashish. After some time, the company’s name was changed to Go For Ticketing. During that period, the dot-com industry was in high demand. As a result, JP Morgan Chase sold all its shares in Go For Ticketing to News Corporation. The company’s brand name was then changed to India Ticketing.
In 2002, there came a time when the entire dot-com industry market crashed. This event turned catastrophic for Ashish. Out of a company that once had more than 150 employees, only 6 remained. The situation became so dire that the company almost had to shut down.
In 2006, there was a significant rise in the number of theaters and multiplexes after debit and credit cards, net banking were introduced. In 2007, he rebranded the company as ‘BookMyShow.’ By 2011, the company reached new heights and earned approximately Rs 16 crore in revenue. After that, Ashish never looked back.
Education Qualification: Ashish
- Ashish was born in 1975.
- He completed his schooling at Maneckji Cooper Education Trust in Juhu.
- After that, he graduated from Mithibai College and pursued an MBA from Sydenham College of Commerce and Economics.
- Following his education, he started working at the advertising company J. Walter Thompson.
Ashish: Net Worth
According to some media reports, Ashish’s net worth is over ₹3,000 crore, while his company, BookMyShow, has an estimated valuation of Rs 7,500 crore.