Bangalore-based event solutions platform, Explara has acquired event ticketing company IndianStage.in in a bid to tap the entertainment market. The amount of the deal has not been disclosed publicly yet. However, as per Santosh Panda, Founder of Explara, the payment has been made through both cash and equity.
IndianStage was founded in 2008 by Baskar Ethirajan and Sajesh Nair. IndianStage mainly conducts events like live concerts and programmes related to arts, theatre and stand-up comedy. So far, it has ticketed over 12k events in 21 cities across India and abroad and is serving over 5,00,000 consumers, reports NextBigWhat.
As per the agreement signed with Explara, IndianStage founders will now join the former’s management team. Panda, refering to Ethirajan amd Nair, said, “They have strong connections in the entertainment industry. We are super excited to have them onboard…with this acquisition, we expect a multifold growth in demand on both supply side and amongst consumers over next 24 months.”
Earlier this year, IndianStage had raised an investment from Blume Ventures along with Google India MD Rajan Anandan.