Zomato Acquires Paytm’s Entertainment Ticketing Biz for $244 Million
- Zomato has acquired Paytm’s movie and event ticketing business for $244 million in cash, aiming to complement its dining-out unit.
- This move is part of Zomato's strategy to diversify beyond its quick-commerce app, Blinkit, and grow in the event booking space.
- Paytm is selling non-core assets as part of its revival strategy following regulatory clampdowns and declining sales.
- Zomato's history of acquisitions includes Runnr, Uber Eats India, Wotu, and Blinkit, significantly boosting its revenue and market position.
- While Zomato has had successful acquisitions, it has also faced setbacks, such as the write-off of several international acquisitions and the sale of non-strategic business units.
Source: The Arc
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‘Insider’ trading 📈🚀
I feel that Jio Finance will buy Paytm in the nearest future.
I have a conspiracy theory, RBI has been cracking down on PayTM because adani and ambani has an interest in Fintech. Weaken the biggest player and then acquire it.
Paytm share tomorrow 🚀
Interesting.. in cash ! But is this enough for Paytm’s revival? https://thearcweb.com/article/zomato-paytm-movie-events-ticketing-insider-kSlZI9y5meNZeSyY
It will ..I feel worst is over for Paytm for now.
Just noticed this publication. This is a very well written story.. comprehensive and refreshing! Also Zomato knows how to make acquisitions work, hoping Paytm’s business goes the same way. Paytm really needed this cash too. Hope the stock is up tomorrow
Paytm will b. Zomato is always up 😂
Zomato overpay it
Ok