Zomato is a food tech startup that plans to strengthen its business by acquiring Paytm’s movies and  ticketing business. Paytm mentioned via BSE filing that they will focus on financial services and  payments with digital goods commerce that are designed to help merchants scale up their businesses. The discussion between these two companies is still ongoing and have not yet reached binding  agreements.  

Zomato recently announced its investment of $48 million in its two subsidiaries. The startup was in  the news because of the investment of $36 million in Blinkit and $12 million in Zomato Entertainment. The acquisition came after Paytm started laying off its employees in large numbers. The fintech startup  also saw a decline in its revenue for Q4 after the Reserve Bank of India announced new rules  concerning compliance with regulatory norms. Paytm believes it is recovering from its second quarter  and is already seeing growth and stabilization in its revenue and merchant base metrics since April.  

After the sealing of this deal, Zomato will be able to scale up its operations and expand its services in  the events business and will be able to take BookMyShow under its wing. The CEO of Zomato,  Deepinder Goyal recently announced an investment of 12 million USD in its ticket and live event  business. This food tech startup aims to expand its network and solidify its position in the Indian  Market. 

The board members at Zomato passed a special resolution to allot $36 million to the e-commerce  startup Blinkit while $12 million will go to Zomato Entertainment. The food tech startup is already the  largest investor in Blinkit with a $277 million investment in the company since its inception. The startup previously bought an all-stock deal of the e-commerce startup for $568 million. This acquisition of  Paytm is another step toward the business expansion scheme of Zomato.  

Conclusion: 

A food tech startup, Zomato announced its plans to acquire fintech startup Paytm’s ticketing and movie  business for $210 million. The company plans to expand its business while making improved  performance and an advanced platform for its users. The company is planning to use this deal to launch  new services while scaling up and expanding its operations across the country. This food tech startup plans to enhance its technology and get a larger customer base. Paytm will be focusing on its financial services and payments with digital goods commerce that are designed to help merchants scale up their  businesses. The discussion between these two companies is still ongoing and have not yet reached binding agreements. Zomato recently announced its investment of $48 million in its two subsidiaries.  The startup was in the news because of the investment of $36 million in Blinkit and $12 million in  Zomato Entertainment. The acquisition came after Paytm started laying off its employees in large  numbers. After the sealing of this deal, Zomato will be able to scale up its operations and expand its  services in the events business and will be able to take BookMyShow under its wing. The CEO of  Zomato, Deepinder Goyal recently announced an investment of 12 million USD in its ticket and live  event business.