SaaS provider Instamojo acquihires entertainment startup Showman

Instamojo has announced the acquihire of virtual theatre and vernacular content platform, Showman. The acquihire will see the on-boarding of the founding member team of Showman. Kshitij Bhatawdekar, Co-founder and CEO of Showman joins Instamojo as Product Manager. Rutveez Roopam Rout, Co-founder and COO of Showman joins as User Research Manager.

Akash Gehani, Co-founder and COO, Instamojo, said, “The acquihire of Showman is a first for us. It comes at a time when we as a company are evolving to move to the next level. We are happy to have both Kshitij and Rutveez join our team. This brings Instamojo their expertise and knowledge in the product and consumer space, along with their entrepreneurial spirit. This acquihire will help us strengthen our product and tech prowess.”

About Showman

Founded in 2019, Showman operates a virtual theatre that enables users to buy movie tickets online. They can watch it from the comfort of their homes. The company recently clocked a compound monthly growth rate of 73.2%. It also negotiated $30Mn worth of movie contracts across the Indian film industries.

Speaking on joining the Instamojo team, Kshitij said, “As an entertainment-focused platform, we have deep insights into the users of India. When we spoke to Instamojo, we realized our insights can drive real impact for the MSME space of India. Both Rutveez and I are excited. We looking forward to beginning this new phase of our journey with Instamojo. We are also thankful to the Passion Connect team which connected us with team Instamojo. They helped seamlessly lead the entire acquisition process.”

About Passion Connect

Passion Connect, an HR Advisory Unit incubated by Blume Ventures, played a vital role in this acquihire. Led by Sanam Rawal, Passion Connect implements innovative hiring techniques to find the perfect employee-employer fit for their 110+ portfolio startups. The Acquihiring vertical, led by Swati Gupta is one such technique.

According to Sanam Rawal, Lead Talent Advisor at Passion Connect, and Swati Gupta, Lead Acquihiring at Passion Connect, “When we first spoke to Kshitij, we saw a spark - a drive to solve real-world problems faced by the people of India. While Showman was a great product, we absolutely loved their talent. We saw potential in their vision. Since we have keen insights into Blume Ventures portfolio companies, we felt that this is exactly what Instamojo is looking for in a team. Once we introduced Kshitij to Akash, the Cofounder at Instamojo, there was no looking back! We wish both teams abundant success in their goal to make products that positively impact the lives of millions of Indians.”