Paytm buys majority stake in events company Insider.in

BENGALURU: Paytm has announced that it had acquired a majority stake in Mumbai-based curated events platform Insider.in. Both did not disclose the size of the deal.

The development marks the clear intent of the Noida-based company to take on players like BookMyShow, which has been focusing on its events business apart from its core business of movie ticketing.

Both these companies are also locked in a discounting war in the movie ticketing space, especially after Paytm’s entry into the segment. Insider.in is owned by Only Much Louder (OML), one of the leading ticketing platforms in the country for a wide range of events.
Madhur Deora CFO & SVP, Paytm, said, “Events discovery and ticket booking is a challenge for customers and organisers alike. We are excited to partner with Insider to help our users discover and book tickets. We believe that 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.”
Vijay Nair, founder of OML, said, “We realised that Paytm was a perfect partner for Insider. We are excited to join forces with them and build out the best event discovery and ticketing experience in India.”

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