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Zomato Eyes Paytm’s Movie Ticketing Business for Major Acquisition! 🎟️

Food delivery giant Zomato is now eyeing Paytm's movie ticketing business. According to media reports, Deepinder Goyal-led Zomato is in talks to acquire this segment from Paytm, with the deal valued at ₹1500 crore. Besides Zomato, other companies are also in the race to buy this business.

If the negotiations with Paytm are successful, this will be Zomato’s second major acquisition after Blinkit, which was bought for ₹4447 crore in 2022. However, there has been no official announcement from either Zomato or Paytm regarding this deal. Paytm Movies is a strong competitor to BookMyShow, which has investments from Reliance Industries and venture capital funds like Accel and Elevation. In the financial year 2023, BookMyShow reported a revenue of ₹976 crore with a profit of ₹85.72 crore.

Zomato is not new to the ticketing business, as it already offers ticket booking services for events and runs the Zomaland food festival. Paytm’s marketing services include gift vouchers, ticketing (travel, movies, events), promotional activities, and credit card marketing. Last year, Paytm generated ₹1734 crore, with 17% of its revenue from the marketing segment and the remaining 83% from payments and financial services.