This Hyderabad startup will be the technology backbone for Sunburn 2015
Every startup needs a big break to stamp its presence. Hyderabad based MeraEvents that started back in 2009 believes that it has just landed on one such deal. Last week, MeraEvents announced their exclusive partnership with Percept Live Pvt. Ltd, a popular Media and Communications Company, for offering end-to- end event technology solutions, for managing the online and offline ticketing, ground management of entry of attendees at upcoming events of Percept Live across India. Percept Live holds the IP for Sunburn, which is amongst world’s largest music festival and has other properties like Fly, WindSong, Bollywood, FightNight, and Champions of the world.
MeraEvents competes with Explara in India and both the startups have had stories worth telling. Founded by Naidu Darapaneni, MeraEvents is currently touching INR 3 Cr worth of transactions per month. In Dec we did 3.5 Cr. From INR 50 lacs per month during April/May, the company has grown and hit 3.5 crores in December. Here, we get in a conversation with Naidu to learn more:
YS: Tell us a bit about the business model. How has it changed over the years?
ND: We started our process as purely a ticketing partner for different events and began taking commission only on the tickets. However, over the years, we have emerged as event ticketing technology solution provider managing the ticket desk, and also becoming an end-to-end technology company.
YS: What is the traction, on both b2b and b2c sides?
ND: We are supporting almost 15,000 event organiser across India. We have half a million users who at least bought one ticket from our platform. Our growth rate is 300 per cent year on year.
YS: Do you also do services? Whats does being a ticketing partner entail?
ND: We do offer services in terms of managing the services related to ticketing, online and off line; registration counter management and digital marketing.
YS: Thoughts on team and fund raising.
ND: We are planning to open offices in the US, London, Dubai and Singapore this year. We also want to enhance our headcount from the current 60 to 100 before the end of the current financial year. In terms of funding, we raised a million dollars last June. We are aiming to raise $10 million more.