Zomato may buy cinema ticketing company Paytm: reports

New Delhi: Multiple reports suggest that online food delivery platform Zomato is in advanced talks to acquire the cinema and event ticketing business from Paytm. This move is in line with Zomato’s plan to expand its exit offerings. According to reports, the potential deal could value the Paytm vertical at around Rs 1,500 crore. Zomato and Paytm are yet to comment on the reports.

If the acquisition is finalized, it will be Zomato’s second-biggest acquisition after its acquisition of fast trading platform Blinkit in 2021, which was an all-stock deal worth Rs 4,447 crore. Meanwhile, Zomato has invested Rs 300 crore in its fast commerce company, Blinkit, as the segment is expected to surpass its core food delivery business.

The company’s board has approved an investment of Rs 300 crore in Blinkit Commerce, according to documents filed with the Registrar of Companies, which can be accessed through TheKredible. Additionally, Zomato will also invest Rs 100 crore in Zomato Entertainment, an events arm that specializes in curating and selling tickets for concerts, events and festivals.