Food delivery platform Zomato is now eyeing a business of Paytm. According to the report of Economic Times, Deependra Goyal-led company Zomato can buy the movie ticket business of Paytm, talks are going on between the two companies regarding this entire deal. In the report, the value of this business of Paytm is being said to be Rs 1500 crore. Let us tell you, apart from Zomato, many other companies are also trying to buy this business of Paytm.
Company is buying back its shares for ₹1400, record date announced
Eye on second big deal after Blinkit
Movie ticket business is a good fit for Zomato. If the ongoing talks with Paytm are successful in reaching their outcome, then this will be the second business after Blinkit which will be acquired by Zomato. In 2022, Zomato bought Blinkit for Rs 4447 crore. However, neither Zomato nor Paytm has made any official announcement on this entire issue.
How big is this business of Paytm?
Paytm Movies is giving tough competition to BookMyShow in its segment. Along with Reliance Industries, venture capital funds Accel and Elevation have also invested in Book My Show. In the financial year 2023, this company had generated a revenue of Rs 976 crore. Whereas during this period the company had made a profit of Rs 85.72 crore.
This business will not be new for Zomato. The company provides ticket booking services for events. It also organizes a food festival named Zomaland.
Paytm marketing services include gift vouchers, ticketing (travel, movie, events), promotional and credit card marketing. The company had generated a revenue of Rs 1734 crore last year. Let us tell you, Paytm gets 17 percent of its total earnings from marketing segment. The remaining 83 percent of the company’s revenue comes from payment and financial services.
