In a bid to tap the entertainment market, Bangalore-based event solutions platform, Explara has acquired event ticketing company IndianStage.in. The amount of the deal have been left undisclosed, but according to Santosh Panda, founder of Explara, it is mix of cash and equity.
Bangalore based IndianStage was founded in 2008 by Baskar Ethirajan and Sajesh Nair, events on IndianStage mainly include live concerts and programmes related to arts, theatre and stand-up comedy. The startup so far has ticketed over 12k events in 21 cities across India and abroad and is serving over 5,00,000 consumers.
As a part of the deal, IndianStage founders will now join Explara’s management team. “They (Ethirajan and Nair) have strong connections in the entertainment industry. We are super excited to have them onboard,“ said Santosh Panda. “With this acquisition, we expect a multifold growth in demand on both supply side and amongst consumers over next 24 months.“
Earlier this year, Blume Ventures has invested in IndianStage along with Google India MD Rajan Anandan.
Santosh mentioned that IndianStage.in customers will be steadily transitioned to Explara’s solutions platform. IndianStage.in site will remain operational and it might get a new avatar to stay connected to the entertainment community.