Senior Correspondent, IndianRetailer.com & Retailer Magazine Jul 13, 2017 / 2 MIN READ
Digital payments platform, Paytm, has acquired a majority stake in Insider.in, an online ticketing and events platform of events company OML Entertainment, for an undisclosed sum.
Paytm has been expanding into the events ticketing industry that is currently pegged at Rs 4000 crore, with online ticketing accounting for 10 per cent of the overall volume.
Madhur Deora, Chief Financial Officer, Paytm, stated, "Digital discovery and events marketing expertise will increase supply of quality events in India. This is a natural extension for us as we continue to build India's go-to destination for online movies and events."
Insider.in provides tools, data and analytics to organisers that enables them to conceptualise, market and execute their events.
Shreyas Srinivasan, CEO Insider.in., said, "Our partnership with Paytm will enable us to reach more organisers and event goers, and exponentially grow this ecosystem in India." Paytm buys majority stake in Insider.com
This strategic move allows customers across India to access an exclusive range of premium beauty and personal care products at attractive discounts through the Paytm se ONDC Network using the Paytm app.
As a prominent buyer app on the ONDC Network, the company has experienced remarkable growth, now offering over 200 brands across diverse categories.
As consumer preference leans increasingly towards mobile transactions, businesses are swiftly embracing digital payment options.
Paytm reported a positive EBITDA before ESOP cost (earnings before interest, taxes, depreciation, amortization, and employee stock option costs) of Rs 31 crore.
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