Flipkart wants to acquire stake in BookMyShow..But why?

Given that there is a HUGE overlap between Flipkart and BookMyShow target userbase, why do you think this deal will even make sense?
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“By striking partnerships with the likes of BookMyShow, Flipkart wants to offer a range of services to keep customers coming back to its platform, said the people cited earlier. It also plans to launch groceries this year in order to push repeat purchases by customers.”

– So Flipkart wants to acquire stake in BookMyShow (the only profitable Internet company at scale)..for what? To keep bringing back users to its (or partners) platform? And to use multiple ‘push and pull’ channels to drive adoption?
Given that there is a HUGE overlap between Flipkart and BookMyShow target userbase, why do you think this deal will even make sense?
Unless:
1. There is a direct PhonePe (exclusive) integration.
2. The common investors, Accel is pushing the deal.
3. Adding GMV / Revenue is the goal (outweighs the chaos of M&A).
Aside, Alibaba has acquired Chennai based movie ticketing startup, TicketNew; and while this is an important space to be in – isn’t Flipkart better off running retention algo on its own customer base than others?
(quote source)

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