Jul 13, 2017

Paytm acquires majority stake in ticketing platform Insider.in

BYPankaj Mishra

E-wallet platform Paytm on Thursday announced it has acquired a majority stake in Insider.in, a ticketing 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 4,000 crore, with online ticketing accounting for 10 per cent of the overall volume.
“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,” said Madhur Deora, chief financial officer, Paytm, in a statement.
Insider.in provides tools, data and analytics to organisers that enables them to conceptualise, market and execute their events.
“Our partnership with Paytm will enable us to reach more organisers and event goers, and exponentially grow this ecosystem in India,” added Shreyas Srinivasan, CEO Insider.in.

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Pankaj Mishra is a writer of FactorDaily.