New Delhi: Zomato is in talks to buy Paytm’s movie ticketing and events business. This move fits with Zomato’s goal to expand its ‘going out’ services and strengthen its presence in the entertainment sector. The deal, which is reportedly worth around ₹1,500 crore, would be Zomato’s second-largest purchase after acquiring Blinkit (formerly Grofers) in 2021.
In a recent update to the stock exchanges, Zomato confirmed that it is discussing the purchase with Paytm but clarified that no final decision has been made yet. Therefore, there has been no need for Board approval or official disclosure. Zomato said this potential acquisition is aimed at enhancing its ‘going out’ business, in line with its focus on key areas.
The company emphasized that this plan aligns with its long-term goals of expanding its services. The discussions are part of Zomato’s strategy to offer more services and improve its market presence.
Paytm’s parent company, One97 Communications, also confirmed that the discussions are still in the early stages and there are no binding agreements yet. Paytm stated that it remains focused on payment and financial services, as well as digital goods commerce, to help merchants grow their businesses. They mentioned that any information about these discussions should be seen as speculative until a final agreement is made.
If the deal goes through, it would be a big strategic move for Zomato, allowing the company to offer more than just food delivery. This potential acquisition shows Zomato’s commitment to expanding its reach in the entertainment market, offering a more integrated experience for its users.
