Alibaba-backed Paytm Acquires Majority Stakes in Event Ticketing Platform Insider

20 June 2017, India:

Vijay Shekhar Sharma-led Paytm has acquired majority stakes in the event ticketing platform Insider.in as per the report by The Ken. The investment is estimated around $5.42 Million of which some will be infused in the parent company of Insider.in- OML Entertainment.

Insider is a platform that helps you discover and buy the best in events, travel and food in your city. It strives to curate experiences that are worth your time and money, possibly something you have never tried before. Insider is built by the same team that created Bacardi NH7 Weekender and TV series The Dewarists.

Acquiring majority stakes in Mumbai-based Insider will help Paytm to compete with the likes of BookMyShow. Paytm offers online ticket booking but it is not widely trusted yet as BookMyShow. ET reported about the deal first earlier last month.

Earlier this month, Chinese conglomerate Alibaba picked up majority stakes in Chennai-based TicketNew which enable the booking of movie theater tickets in over 300 cities across India.

Also read- Paytm Payments Bank Set to Adopt UPI from August

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