Paytm agreed to sell its entertainment ticketing business to Zomato for ₹2,048 crore, with the transaction completed on August 27, 2024. The deal covered more than movie tickets: it included sports and live-event ticketing through the TicketNew and Insider businesses.
What did Zomato buy from Paytm?
Paytm’s March 21, 2024 announcement described a sale of its broader entertainment ticketing operations, not just movie ticketing. The business was to transfer through two subsidiaries: Orbgen Technologies (OTPL), which operated TicketNew, and Wasteland Entertainment (WEPL), which operated Insider. The services covered movies, sports and live events. Paytm said about 280 employees would transfer as part of the deal. Paytm’s announcement
Paytm said its app would continue to offer the ticketing business during a transition period of up to 12 months. That was a handover plan announced in 2024, not confirmation that the services remain available through Paytm today.
How much was the deal worth?
The agreed consideration was ₹2,048 crore on a cash-free, debt-free basis. The final amount was subject to cash and net working capital adjustments at closing, as well as agreed closing conditions. TechCrunch reported the rupee amount as approximately $244.1 million; the dollar figure is a conversion, not a separately fixed dollar price. Paytm’s announcement · TechCrunch’s report
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Did the Paytm-Zomato deal close?
Yes. Zomato completed its acquisition of OTPL and WEPL on August 27, 2024, according to Paytm’s exchange filing. Paytm’s completion filing
Why did Paytm sell, and why did Zomato buy?
Paytm’s stated rationale
Paytm said the sale would let it focus more closely on its core payments business and financial-services distribution, while strengthening its balance sheet with the proceeds. Those were the company’s stated strategic aims, not a guarantee of a particular financial outcome. Paytm’s announcement
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Zomato’s stated rationale
Zomato said the acquisition would add scale and new “going out” use cases for customers, including movie and sports ticketing. Founder and CEO Deepinder Goyal said: “The proposed acquisition helps us add more scale and offer newer use-cases (like movie and sports ticketing) to our customers in this segment.” TechCrunch also reported that Goyal discussed a plan for a new app called District; that was the plan described at the time, not evidence here that the app launched as proposed. TechCrunch’s report
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What did the ticketing business contribute?
Paytm reported that the combined entertainment-ticketing business generated ₹297 crore in revenue and ₹29 crore in adjusted EBITDA in FY24, excluding intercompany eliminations. Paytm also said it had acquired Insider and TicketNew for ₹268 crore between 2017 and 2018. These are figures reported by Paytm, rather than independent valuations of the businesses. Paytm’s FY24 figures and acquisition details
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