Bookmyshow invests in D2C marketplace startup, to list it on platform

By Team Startupcity  |  Thursday, 07 July 2022, 08:55 IST

Bookmyshow invests in D2C marketplace startup, to list it on platform
Online movie ticketing and events platform Bookmyshow (BMS) has invested around Rs 10 crore in Popclub, a new direct-to-consumer marketplace startup, regulatory filings sourced from business intelligence platform Tofler showed.
The startup - housed under Preebee Lifestyle — will rely on BMS’ large user base to source traffic to the marketplace, according to sources aware of the matter.
BMS is also likely to create a tab on its platform for Popclub that will direct users to the new marketplace, as per current discussions.
Founded by The Label Life founder Preeta Sukhtankar, Popclub is in active discussions to onboard multiple D2C brands on its platform. Each brand will have a digital storefront on Popclub.
According to a presentation by Popclub, the platform is pitching four value propositions: Bookmyshow’s customer base, premium creator and celebrity access, a loyalty currency (pop coins); and a free sample giveaway programme called Pop Minis, to onboard brands. It is targeting people with high spending power in tier 1 cities.
The platform will charge a 20-25% marketplace commission depending on the category.
It wants to improve D2C brand’s discoverability, a value proposition that online food and grocery delivery platform Swiggy is also exploring with the launch of Minis on Swiggy.
BMS cofounders Ashish Hemrajani and Parikshit Dar are on the board of Popclub, according to the filings.
The startup’s native coins “pop coins” will be redeemable on BMS’s tickets and offers. Users will also earn pop coins while transacting on the BMS app.
Popclub defines itself as a “platform trying to solve for the consumption needs of this (premium) segment including ecomm, entertainment, financial”.
Popclub is also working on offering samples to customers through Pop Minis, according to its presentation. “These samples will not only be used to reward consumers but also used for distribution to influencers,” it said in the note, indicating that the platform aims to use influencers to push sales.
BMS’ foray into the D2C marketplace through Popclub comes at a time when it is recovering from the aftermath of the Covid-19 pandemic which brought the movie and offline entertainment business to a standstill.
In an interview, Hemrajani said its business was rapidly approaching pre-pandemic levels.
“If there is a direct relationship with the mother brand in terms of what I am selling, let's say grocery, then I see it working out much easier,” said Sneh Shah, cofounder of D2C brand The Baker’s Dozen, when asked about the potential of such new sales channels emerging for D2C brands.
“For example, Instamart always had that customer base of Swiggy to hack. The initial jump in the captive user base helps a lot,” he said. “A tangential platform like BMS or any other platform would not be on the top of your mind when you think of grocery shopping or ecommerce shopping. The effort required to pull the customer there will be slightly higher.”
He said D2C-focused marketplaces like Cred’s store have emerged as an avenue for customers to sample products.
“Cred is a place for you to get a great sampling done and get customer feedback,” Shah said.

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