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Mint Explainer: Zomato’s Paytm deal and its big bet on entertainment

LivemintLivemint · 3m
Mint Explainer: Zomato’s Paytm deal and its big bet on entertainment

Zomato is set to expand beyond food delivery and enter the entertainment and ticketing market with the acquisition of Paytm's entertainment and ticketing business. The new venture, called 'District', will focus on movie and event ticketing, live performances, and sports. Zomato plans to launch District as a separate brand and app, aiming to position it as the go-to platform for consumers when planning a night out. The acquisition will provide Zomato with access to Paytm's customer base and experienced employees in the entertainment sector. Analysts believe the move will boost Zomato's revenue and allow it to capture a higher wallet share from urban customers. Meanwhile, the sale will help Paytm focus on its core business after facing customer losses due to regulatory issues.

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