Zomato to Acquire Paytm’s Entertainment and Ticketing Business for Rs. 2,048 Crore
Zomato is making headlines with its latest acquisition, buying Paytm’s entertainment and ticketing business for a hefty Rs. 2,048 crore. This deal, finalized on August 21st, is part of Zomato’s broader strategy to grow beyond food delivery and dive deeper into lifestyle services.
What Does This Mean for Paytm Users?
For the next year, you’ll still find Paytm’s entertainment and ticketing options on their app. But after 12 months, users will need to switch over to Zomato’s new app, ‘District,’ to continue enjoying these services. This transition gives users plenty of time to get used to the change while allowing Zomato to gather all its services in one place.
Meet ‘District’: Zomato’s New App for Everything Lifestyle
Zomato isn’t just buying a business—it’s also launching something new. Earlier this month, Zomato announced ‘District,’ a new app designed to offer everything from dining out to buying movie and sports tickets, attending live performances, shopping, and more. The ‘District’ app will be ready for public use in just a few weeks, making it a go-to platform for all kinds of lifestyle services.
Zomato’s Bold Step into the Lifestyle Space
Zomato has been a giant in food delivery, but now it’s expanding into new territory. The ‘District’ app will combine dining, entertainment, shopping, and other lifestyle services into one convenient platform. This move helps Zomato branch out, offering more than just food and tapping into a broader market of everyday services.
CEO Deepinder Goyal’s Take on the Acquisition
Zomato’s CEO, Deepinder Goyal, sees this acquisition as a natural fit. “This isn’t entirely new for us. We’ve been in the ticketing business for over a year and have been planning to grow this part of our company. Just to recap, our going-out business, which includes dining-out and event ticketing, made Rs 3,225 crore in GOV (gross order value) in FY24, growing at 136 percent YoY,” Goyal said.
This acquisition isn’t just about expanding—it’s about building on what Zomato is already doing well. By taking over Paytm’s ticketing business, Zomato is set to offer even more value to its users.
How This Affects the Market
This acquisition is likely to shake up the market. Zomato is moving into a competitive space with other players already established in lifestyle and entertainment. But with its strong brand and large user base, Zomato has a good chance of leading the pack. The ‘District’ app is set to make Zomato a major player in lifestyle services, offering users a seamless experience across dining, entertainment, and more.