Zomato may buy Paytm's movie ticketing business: Reports
Online food delivery platform Zomato is in advanced discussions to buy Paytm's movie ticketing and events business, according to multiple reports.
IANS
Jun 16, 2024 07:55
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New Delhi, June 16 (IANS) Online food delivery platform Zomato is in advanced discussions to buy Paytm's movie ticketing and events business, according to multiple reports.
This move aligns with Zomato's plan to expand its 'going out' offerings.
The potential deal could value Paytm's vertical at around Rs 1,500 crore, as per reports.
Zomato or Paytm were yet to comment on the reports.
If finalised, this acquisition would be Zomato's second-largest purchase, following its acquisition of quick commerce platform Blinkit in 2021, which was an all-stock deal worth Rs 4,447 crore.
Meanwhile, Zomato has invested Rs 300 crore in its quick commerce arm, Blinkit, as this segment is projected to surpass its core food delivery business.
The board of the company has approved the investment of Rs 300 crore in Blinkit Commerce, as per filings with the Registrar of Companies accessed via TheKredible.
Additionally, Zomato will also invest Rs 100 crore in Zomato Entertainment, its events arm, which specialises in curating and selling tickets for concerts, parties, and festivals.
--IANS
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