Zomato Secures Paytm’s Entertainment Ticketing Operations

Zomato has secured Paytm’s entertainment ticketing operations in a deal valued at $244.1 million.

This deal includes ticketing services for movies, sports, and events and will see Paytm’s app continue hosting these services for up to a year, with 280 employees joining Zomato.

This acquisition helps Zomato expand its offerings beyond food delivery into a competitive online ticketing market dominated by BookMyShow.

Zomato’s stock has surged over 100% this year, partly due to the success of its quick commerce service, Blinkit, now valued at $15.4 billion.

The deal aligns with Zomato’s strategy to diversify and could lead to the launch of a new app, District, integrating dining and entertainment.

Meanwhile, Paytm is refocusing on its core fintech operations, as the ticketing division, contributing around 9% to its revenues, is sold off.