Zomato completes acquisition of Paytm’s entertainment ticketing biz

Food delivery major Zomato has completed the acquisition of Paytm’s event ticketing subsidiaries Wasteland Entertainment Private Limited (WEPL) and Orbgen Technologies Private Limited (OTPL), the company said in an exchange filing. OTPL and WEPL operate the TicketNew and Insider platforms, respectively.

ET first reported on June 16 that Paytm was in talks to sell Paytm Insider to Deepinder Goyal’s Zomato, which is looking to expand the “going-out” business.

In a separate filing, Noida-based Paytm also confirmed that the transfer of the events and movies ticketing business to Zomato was completed on August 27.


The deal was valued at Rs 2,048 crore, both companies had said on August 21.

During a transition period (up to 12 months), the movie and event tickets will continue to be available on the Paytm app, as well as on the TicketNew and Insider platforms, ensuring a smooth and uninterrupted experience for users and merchant partners.

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As part of the deal, about 280 existing employees from the entertainment ticketing business will move to Zomato.

Paytm had said that the company wants to focus on the payments and financial services distribution segment.

The deal marks a significant step towards Zomato bulking up businesses beyond food delivery, after aggressive investments in the buzzy quick commerce segment.

On August 1, Zomato said it would launch an app called District for the going-out business, which it said would become the company’s third big business-to-consumer vertical after food delivery and quick commerce.