Alibaba Pictures to buy Chennai-based Ticket New
Monday, January 9, 2017, 3:19 PM
Alibaba Pictures, the movie and TV content business controlled by the Chinese e-commerce giant, is planning to buy 70-75% stake in Chennai-based Orbgen Technologies Pvt. Ltd, which operates the ticket-booking platform TicketNew. The value of the transaction is likely to be around $35 million. Acquisition of TicketNew by Alibaba Pictures could change the dynamics of ticketing in India, which is currently dominated by BookMyShow.