look news india
There are reports that food delivery giant Zomato Paytm's core business getting ready to buy Is According to a Bloomberg report, Zomato is in talks to buy Paytm's ticketing and event business at a valuation of several crores. According to the report, Zomato can buy this business for Rs 1500 crore.
Zomato wants to expand its business to other areas, due to which it is considering buying this business of Paytm. Citing a Bloomberg report, Zomato's interest in Paytm's event and movie ticketing business is a strategic fit with its broader objective of meeting user demand across categories including food, grocery and entertainment.
Zomato bought this big company!
If this deal goes through, it will be the second biggest acquisition of food delivery company Zomato. Zomato had previously bought fast e-commerce delivery platform Blinkit (formerly Grofers). Zomato initially acquired Blinkit.
The deal with Zomato was completed in 2022 for Rs 4,447 crore. Now due to increasing competition in this business, Zomato is going to invest Rs 300 crore. After this investment, Zomato's total investment in Blinkit will be Rs 2,300 crore.
What is Zomato's plan?
After announcing Q4FY2024 results, Zomato said Blinkit plans to increase its store count to 1,000 by the end of FY2025, up from 526 stores as of March 31, 2024, by adding 75 stores.
It may be noted that Paytm expects revenue of Rs 1,500-1,600 crore in Q1 FY25 and EBITDA minus before ESOP of Rs 500-600 crore.
Paytm said it would see a meaningful improvement from Q2FY25 based on the re-launch of some stalled products and achieving steady growth in operating metrics.
