Zomato CEO and founder Deepinder Goyal is one of the most successful businessmen in India. He launched the food delivery service Zomato in 2008 and now its market cap is Rs 226000 crore today. It continues to grow and expand its businesses. In 2022, Zomato acquired the quick commerce platform Blinkit. Now, the company is set to buy another new business.
It will buy Paytm's entertainment ticketing business for Rs 2,048 crore. Entertainment ticketing business, including movies, sports, and events, will be available on the Paytm app during a transition period of up to 12 months, Paytm said.
"One 97 Communications Limited (OCL)...Today announced, that it has entered into definitive agreements for the sale of its entertainment ticketing business that includes movies, sports and events (live performances) ticketing to Zomato Limited," it said.
The deal, valued at Rs 2,048 crore, underscores the value Paytm has created through its entertainment ticketing business, bringing choice and convenience to millions of Indians with its services and scale, the company said.
(With inputs from PTI)
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