Paytm acquires majority stake in online ticketing platform Insider.in

Digital payments startup Paytm has acquired a majority stake in Mumbai-based Insider.in, a ticketing platform of events company OML Entertainment, for an undisclosed sum. The acquisition will allow Paytm to integrate events listed on Insider.in on its app, giving a major boost to its online ticketing service. Patym introduced movie and events tickets in March last year.

"Digital discovery and events marketing expertise will increase the 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," said Madhur Deora, Chief Financial Officer, Paytm, in a statement.

Insider.in is owned by Only Much Louder (OML), a leading talent management firm, that runs popular events like NH7 Weekender, Electric Daisy Carnival and The Grub Fest.

"From the first meeting with Vijay Shekhar and Madhur, 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," said Vijay Nair, founder, OML.

According to estimates shared by Paytm, India’s organized events industry currently stands at Rs 4,000 crore, with online ticketing accounting for a mere 10 percent of the overall volume. Paytm’s online movie ticketing service spans 3,500 screens across 550 cities.