Zomato has announced the acquisition of Paytm's ticketing business - Insider for a sum of INR 2,048 crore.

Paytm's Insider business has been offering ticketing for movies, sports and events. 

In 2023-24, Insider generated revenue of more than INR 297 crore and a profit of close to 29 crore.

The transaction also includes a transition services agreement where the ticketing business will continue to run on the Paytm app for a period of up to 12 months to ensure a smooth transition of the business from Paytm to Zomato.

Insider's 280 employees will move to Zomato.

According to a statement from Deepinder Goyal, chief executive officer, Zomato, "‘District’ - our dedicated going-out app - has the potential to drive strong customer engagement and incremental demand across booking movie tickets, IPL tickets, dining-out table reservations, discovering live entertainment and booking weekend getaways. Some of these are strong customer pull use cases (like a blockbuster movie ticket booking) while others could be more discovery based transactions (like a pop-up by a star chef at a local restaurant). We want to position 'District' as the brand that consumers turn to when they are thinking of going out."

He added, "In line with this thinking and our belief around building ‘super brands’ (Zomato, Blinkit) as opposed to ‘super apps’, we think that a new brand will help customers build association with going-out use cases and also allow us to build a loyalty program which drives higher retention. It also makes it much easier for us to keep adding new use-cases for our customers given more real estate in a new app vs trying to fit it in a tab on the Zomato app. This also helps us keep the Zomato brand even more closely associated with food delivery only."