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BookMyShow has acquired struggling Mumbai-based local food and restaurant recommendation engine Burrp from Network18 in an all-cash deal.
Concluded as a slump sale, the deal was finalised at a meagre Rs 6.7 lakh, two months after the board of Network18 gave an in-principle approval to sell Burrp on the back of its paltry revenue contribution to its parent.
The Network18 divestment has been made to Foodfesta Wellcare, a subsidiary of BigTree Entertainment which owns and operates BookMyShow.