Paytm is selling its entertainment ticketing business, including movie, sports, and event tickets, to Zomato for Rs 2,048 crore. The deal includes Paytm’s subsidiaries, TicketNew and Insider, along with 280 employees.
The services will remain available on the Paytm app during a 12-month transition. This move aligns with Paytm’s focus on payments and financial services. Founder Vijay Shekhar Sharma highlighted the company's shift towards a sustainable, profitable business model after a challenging financial year, where Paytm reported a 35% drop in revenue.