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<ul><li>Paytm now offers hotel booking with its acquisition of NightStay. </li><li>Earlier in January, Paytm had announced its entry into food delivery. </li><li>It already operates in the ticketing business with Paytm Movies, e-commerce sector with Paytm Mall.</li></ul>Paytm is one of the frontrunners of Indian startups and a leader in the digital payments in India. But it’s also competing head-on with almost every other business in the e-commerce space. In the last one month, the company has entered two new major segments – hotel booking and food delivery. On January 30, Paytm announced the acquisition of <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/paytm-enters-hotel-booking-business-buys-nightstay/articleshow/67748857.cms">NightStay</a>, a four-year platform which helps users book hotel rooms and offers last minute deals. While MakeMyTrip and Oyo Rooms have been dominating the <keyword id="864750" type="PERSON" weightage="20" keywordseo="Hotel-bookings">hotel bookings</keyword> space, the recent acquisition of NightStay will help Paytm become a one-stop shop for its over 230 million users and the potential ones. Paytm already competes with MakeMyTrip in offering flight and train tickets. Vijay Shekhar Sharma took on BookMyShow when Paytm started selling movie tickets in 2016. <a href="https://techcircle.vccircle.com/2018/10/30/kept-on-its-toes-by-paytm-bookmyshow-slips-deeper-into-the-red-in-fy18">BookMyShow</a> revenue growth dropped to 27% in 2016-17 from 85% a year earlier. Earlier in January, Paytm had also announced its<a href="https://www.businesstoday.in/technology/news/paytm-joins-hands-with-zomato-to-offer-in-app-food-delivery-service/story/310921.html"> partnership</a> with foodtech unicorn Zomato to enter the food delivery segment and take on rival Swiggy. With the Paytm Mall, the company has a foot in online retail- from apparels and accessories to electronics, footwear, and fitness equipments to name a few. However, its success has been limited. Even with massive cashbacks and discounts, Paytm Mall had not been able to make an impact yet with reports reflecting that the company’s losses went up by <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/paytms-parent-company-one97-communications-widens-net-loss-to-rs-1490-4-cr/articleshow/66402994.cms">270%</a> last year mainly because of its e-retail arm. The <keyword id="1705292" type="PERSON" weightage="20" keywordseo="Indian-e-commerce">Indian e-commerce</keyword> segment is already crowded with Amazon and Walmart fighting it out, and now, Reliance Industries also planning to enter the market. While there were rumours of the company planning to scale down its e-commerce operations, founder Vijay Shekhar Sharma had told <a href="https://economictimes.indiatimes.com/industry/services/retail/paytm-has-no-plans-to-leave-mall-business-vijay-shekhar-sharma/articleshow/67681312.cms">ET</a> that “it has no plans to leave the mall business”. See Also: <a href="https://www.businessinsider.in/amazon-walmart-owned-flipkart-set-back-by-new-e-commerce-rules-that-help-mukesh-ambanis-reliance-retail/articleshow/67751026.cms">Mukesh Ambani may be the surprising winner from India's new rules hurting Amazon and Walmart</a> <a href="https://www.businessinsider.in/indias-new-e-commerce-policy-has-rivals-flipkart-and-amazon-teaming-up-to-counter-the-new-directive-and-the-republic-day-sale-will-probably-be-their-last/articleshow/67366996.cms">India’s new e-commerce policy has rivals Flipkart and Amazon teaming up to counter the new directive — and the ‘Republic Day’ sale will probably be their last</a> <a href="https://www.businessinsider.in/in-india-amazons-fight-is-not-just-with-flipkart-but-with-paytm-google-pay-and-truecaller/articleshow/67456165.cms">In India, Amazon's fight is not just with Flipkart, but with PayTM, Google Pay and Truecaller</a>

Paytm is competing with almost everyone in Indian e-commerce

At a time when the country is hankering for lower denomination currency notes amidst the chaos of currency demonetization, the tech savvy countrymen are breathing relief, all thanks to <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword>. 
 Now the Noida based ecommerce platform specializing in recharge and payments has just acquired Delhi-based <keyword id="3393722" type="UNKNOWN" weightage="20" keywordseo="Shopsity">Shopsity</keyword> in a bid to strengthen its offline retail network. Shopsity follows an online-tooffline model that offers solutions to small retail stores. 
 
While there is no update on the transaction value, Paytm is creating seller-focussed services for its offline merchants. The company is in the process of acquiring merchants to accept payments and plans to go deeper and offer a more engaged platform for interacting with customers. 
 Shopsity co-founders <keyword id="2509279" type="UNKNOWN" weightage="20" keywordseo="Danish-Ahmed">Danish Ahmed</keyword> and <keyword id="625133" type="UNKNOWN" weightage="20" keywordseo="Gaurav-Arya">Gaurav Arya</keyword> have joined Paytm's management and are actively working to strengthen seller services for the 8,00,000-strong offline sellers on the Paytm ecosystem. The acquisition will aid Paytm's targof reaching 4 million offline merchants by March 2017, the company claims. 
 “We are working to bring an entire suite of digital services to them,” <keyword id="3916" type="PERSON" weightage="20" keywordseo="Ahmed">Ahmed</keyword> told the Economic Times. Shopsity was Ahmed's second venture after he quit as CEO of <keyword id="889290" type="COMPANY" weightage="20" keywordseo="Yebhi">Yebhi</keyword> in May 2015. "By integrating Shopsity's technology with our advanced seller services, we will be able to offer additional solutions to our family of small offline merchants. I am confident this acquisition will offer further momentum to online-to-offline,” said <keyword id="3723104" type="UNKNOWN" weightage="20" keywordseo="Madhur-Deora">Madhur Deora</keyword>, chief financial officer at Paytm told the ET.

Paytm is just nailing the offline market with its recent acquisition of Shopsity

Mumbai: Food delivery company <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword> has completed the <keyword id="19901090" type="General" weightage="20" keywordseo="acquisition" source="keywords">acquisition</keyword> of <keyword id="19898109" type="General" weightage="20" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="261" meta.entityid="Paytm">Paytm</keyword> subsidiaries WEPL and OTPL for the <keyword id="19922574" type="General" weightage="20" keywordseo="entertainment" source="keywords">entertainment</keyword> <keyword id="20028334" type="General" weightage="20" keywordseo="ticketing" source="keywords">ticketing</keyword> business, the company said in its filing with the exchanges. On August 21, the Deepinder Goyal-led company entered into definitive agreements for the acquisition of Paytm's entertainment arms. In its stock exchange filing on August 21, Noida-based Paytm had also confirmed the development. The deal, valued at Rs 2,048 crores on a cash-free, debt-free basis, stands "as a testament to the value" Paytm has created through its entertainment ticketing business, bringing choice and convenience to millions of Indians with its services and scale, the company said in a release filed with exchanges. As part of this agreement, OCL will transfer its entertainment ticketing business to Zomato by transferring OCL's entertainment ticketing business to its 100 per cent subsidiaries, Orbgen Technologies Pvt Limited (OTPL) and Wasteland Entertainment Pvt Ltd (WEPL) and selling a 100 per cent stake in its subsidiaries OTPL and WEPL, which operate the TicketNew and Insider platforms, respectively to Zomato. As per the information provided by the fintech, about 280 existing employees from the entertainment ticketing business will be part of Zomato. Paytm had said that the company wants to focus on the payments and financial services distribution segment. During a transition period (up to 12 months), the movie and event tickets will continue to be available on the Paytm app, as well as on the TicketNew and Insider platforms, ensuring a smooth and uninterrupted experience for users and merchant partners. As per Paytm, the company built movie ticketing from the ground up and acquired TicketNew and Insider for a total consideration of Rs 268 crores from 2017 to 2018. Further, additional investments were also made to scale up the business. On Wednesday, after the announcement, the stocks of Zomato opened in green at Rs 256.20. The company in the past six months has delivered a 60 per cent reward to its shareholders. (ANI)

Zomato completes acquisition of Paytm's entertainment and ticketing business

<ul><li>Paytm is reportedly in talks to acquire <keyword id="7716572" type="UNKNOWN" weightage="20" keywordseo="insurtech-startup">insurtech startup</keyword> <keyword id="2821957" type="PERSON" weightage="20" keywordseo="Coverfox">Coverfox</keyword> for $120 million. </li><li><keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>, Paytm founder and CEO, had earlier in an interview with Business Insider said that they are looking at the <keyword id="35450" type="COMPANY" weightage="20" keywordseo="insurance">insurance</keyword> sector. </li><li>If closed, this could be one of Paytm’s biggest acquisitions. </li></ul>Paytm which has made its mark in the Indian digital payments space is reportedly looking at acquiring insurtech startup Coverfox for a whopping $120 million, reported <a href="https://tech.economictimes.indiatimes.com/news/startups/paytm-in-talks-to-acquire-coverfox/69625293">ET</a>. The reports say that the talks are in early stages, still. Paytm founder and CEO Vijay Shekhar Sharma had earlier told Business Insider in an interview of their plans to expand financial offerings. “This year, we plan to double down on payments to reach Tier 5 and 6 cities of India. We are also looking at expanding our financial services – Insurance is one of the sectors that we want to get into,” Sharma had told BI. There are over 142 insurtech startups in India according to Tracxn. Online insurance industry in India is <a href="https://trak.in/tags/business/2014/03/19/online-insurance-india-growth/">reportedly</a> all set to be worth ₹200 billion by 2020. If it is closed, this deal would be Paytm’s biggest acquisition so far, marking its grand debut into the insurance sector. It will then compete with the likes of Policybazaar, also funded by Paytm’s investor – Softbank. Paytm’s valuation is set to hit $18 billion, according to <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/paytm-raising-up-to-2-billion-valuation-may-soar-to-18-billion/articleshow/68606766.cms">reports.</a> However, when reached out, Coverfox said, "As a company policy, we do not comment on speculation." Coverfox, whose parent company is Glitterbug Technologies, was reportedly in the market looking for a fresh round of funding of $50 million. Its latest valuation is <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/coverfoxs-parent-company-glitterbug-is-out-to-raise-50-million-in-new-round/articleshow/68313619.cms">reported </a>to be around $150-$200 million. In its last funding round in April 2018, the insurance aggregator had raised $22 million in a Series C funding led by IFC, Transamerica and existing investors - SAIF Partners, Accel and NR Narayana Murthy’s private investment arm - Catamaran Ventures. Coverfox was started in 2014 by Devendra Rane and Varun Dua. Two years later, Dua had gone on to found another insurtech startup Acko General Insurance. See Also: <a href="https://www.businessinsider.in/facing-jio-paytm-founder-vijay-shekhar-sharma-plans-a-ticket-to-us/articleshow/69053166.cms">‘I want it all and I want it now’, says Paytm founder Vijay Shekhar Sharma as he plans a ticket to the US</a> <a href="https://www.businessinsider.in/binny-bansal-and-others-invest-65-million-in-insurtech-startup-acko-with-a-300-million-valuation/articleshow/68402912.cms">This Indian insurance startup may be worth $300 million in just over two years</a>

Paytm could be spending big money for its insurance debut

<a href="http://www.businessinsider.in/searchresult.cms?query=paytm&amp;sortorder=effectivedate">Paytm</a> is seeing its QR code payment method as an alternative to<a href="http://www.businessinsider.in/searchresult.cms?query=point+of+sales+machines&amp;sortorder=effectivedate"> Point of Sale (PoS) machines </a>and is touting to reach 1 crore <a href="http://www.businessinsider.in/searchresult.cms?query=offline+sellers&amp;sortorder=effectivedate">offline sellers</a>. 
 This can be termed as an intelligent move as <keyword id="2520723" type="UNKNOWN" weightage="20" keywordseo="POS-machines">PoS machines</keyword> are expensive and the time taken to deliver is long. 
 “In order to add more momentum to the traction, we are making the app available in regional languages and expanding merchant acquisition network in smaller towns,” Deepak Abbott, senior vice president at <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword>, told ET. 
 
The QR code-based payment is linked to the verification documents and KYC collected for each business. 
 
At present, 35 lakh merchants including organised retailers, hospitals, and other stores use the facility for their businesses. 
 
Post <a href="http://www.businessinsider.in/searchresult.cms?query=demonetisation&amp;sortorder=effectivedate">demonetisation</a>, the offline merchants rose to one lakh and Paytm also hired 10,000 field-force to ramp up the number of offline users.

Paytm is pushing its QR payment method as an alternative to PoS, looks to reach out 1 crore offline sellers

New Delhi: Online food delivery platform <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="83" meta.entityid="Zomato">Zomato</keyword> will acquire <keyword id="19898109" type="General" weightage="20" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="83" meta.entityid="Paytm">Paytm</keyword>'s entertainment <keyword id="20028334" type="General" weightage="20" keywordseo="ticketing" source="keywords">ticketing</keyword> business for Rs 2,048 crore to strengthen its "going-out" segment in a deal that will help the troubled fintech firm to sharpen its focus on core payments and financial services distribution. Paytm's entertainment ticketing business covers movies, sports, and events (live performances). The boards of Zomato and One 97 Communications Ltd (OCL) have approved the all-cash deal. As part of this agreement, OCL's entertainment ticketing business will transfer business to its 100 per cent subsidiaries Orbgen Technologies Pvt Ltd (OTPL) and Wasteland Entertainment Pvt Ltd (WEPL), followed by the sale of 100 per cent stake in these subsidiaries (which operate the TicketNew and Insider platforms) to Zomato. Subsequently, Zomato will spin off the new business into a new app called 'District'. Under the deal, Zomato will fully acquire Orbgen Technologies Pvt Ltd (OTPL), which is into movie ticketing, for Rs 1,264.6 crore and buy Wasteland Entertainment Pvt Ltd, which is into events ticketing for Rs 783.8 crore. The combined entertainment ticketing business has a scale of Rs 297 crore in revenue and Rs 29 crore in adjusted EBITDA in FY24. "The transfer will also include around 280 existing employees from the entertainment ticketing business," OCL said in a statement, adding that the transaction generates significant profits for Paytm and cash proceeds will further strengthen the balance sheet. Announcing the deal, Paytm said it allows the fintech to strengthen its focus on core payments and financial services distribution. Paytm said with its strong focus on long-term value creation, the company remains confident in substituting revenue from its entertainment ticketing business by expanding core business areas of payments and financial service distribution. "This move allows us to continue focusing on long-term growth in our core areas and value creation for all stakeholders," a Paytm spokesperson said. On the other hand, Zomato Managing Director and CEO <keyword id="19901325" type="General" weightage="20" keywordseo="deepinder-goyal" source="keywords">Deepinder Goyal</keyword> in a letter to shareholders said, "The proposed acquisition helps us add more scale and offer newer use-cases (like movie and sports ticketing) to our customers in this segment". Zomato believes the deal makes it more relevant to its customers and gives an opportunity to spin off the business into a new app. "We are going to call it District, which could be a game changer for each of these use cases given the need for a single brand as a destination in this segment," Goyal added. Zomato is keen to position 'District' as the brand that consumers turn to when they are thinking of going out, he added. OTPL was incorporated on November 23, 2007, in India. It is in the business of listing and sale of movie tickets and other services. It had a turnover of Rs 13.14 crore in the fiscal ended March 31, 2024. WEPL was incorporated on December 21, 2015. It is in the business of listing and sale of event tickets and other services. Its turnover in the FY24 was Rs 236.03 crore. Paytm said the move to sell its entertainment ticketing business underscores its core focus on payments and financial services distribution. "In recent quarters, the company has also expanded its offerings in insurance, equity broking, and wealth distribution, with a significant opportunity to cross-sell these services and grow its market presence as a leading financial services distribution player," Paytm said. During a transition period (up to 12 months), the movie and event tickets will continue to be available on the Paytm app, as well as on the TicketNew and Insider platforms, ensuring a smooth and uninterrupted experience for users and merchant partners. Paytm said the deal underscores its success in building businesses and creating value for shareholders. Zomato's Goyal said the District app is expected to be launched anytime in the next few weeks. Post this acquisition, he said Zomato's going-out business would be spread across multiple different platforms. Its existing going-out business (dining-out + event ticketing) would continue to run on the Zomato app, and the acquired business -- movie, sports and event ticketing -- would continue to run on Paytm's main app for a transition period of up to 12 months, along with Insider and TicketNew apps. Both of these would get transferred to Zomato as part of the transaction. District app will duplicate the offerings above and over time, we will gradually nudge our customers to move from the Zomato, Paytm, Insider, and TicketNew apps to the District app. "Once most customers start transacting on the District app, we will remove the duplication and shut down this business on all the other apps. Eventually, there will just be a button to launch the District app on the Zomato app (like it is for Blinkit today) so that we continue to tap into the large customer base of Zomato," he added.

Zomato to acquire Paytm's entertainment ticketing business for Rs 2,048 crore

The RBI on Friday asked <keyword id="3236791" type="General" weightage="20" keywordseo="paytm-payments-bank" source="Orion">Paytm Payments Bank</keyword> to stop opening new accounts amid “material supervisory concerns” observed in the bank. “Reserve Bank of India has today, in exercise of its powers, inter alia, under section 35A of the Banking Regulation Act, 1949, directed <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> Payments Bank Ltd to stop, with immediate effect, onboarding of new customers,” the central bank said in a statement. The bank has also been directed to appoint an IT audit firm to conduct a comprehensive system audit of its IT system. “Onboarding of new customers by Paytm Payments Bank Ltd will be subject to specific permission to be granted by RBI after reviewing report of the IT auditors. This action is based on certain material supervisory concerns observed in the bank,” it said. Paytm Payments Bank was incorporated in August 2016 and formally began its operations in May 2017 from a branch in Noida. In December 2020, the RBI had barred HDFC Bank from launching any new digital products or services and issuing new credit cards till the lender resolved recurring tech issues. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/startups/news/info-edges-latest-acquisition-aisle-explains-why-it-was-difficult-for-them-to-raise-funds/articleshow/90145724.cms">INTERVIEW: Info Edge’s latest acquisition Aisle’s founder explains why it was difficult for him to raise funds</a> <a href="https://www.businessinsider.in/business/startups/news/boat-has-rejigged-its-entire-upper-management-in-the-run-up-to-the-ipo/articleshow/90140785.cms">BoAt has rejigged its entire upper management in the run up to the IPO</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-colgate-lupin-among-hot-stocks-to-watch-out-for-on-march-11/slidelist/90139884.cms">Wipro, Colgate, Lupin among hot stocks to watch out for on March 11</a>

RBI stops Paytm Payments Bank from opening new accounts

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Reuters/Jitendra PrakashA Sadhu or a Hindu holy man pays the vendor through Paytm, a digital wallet company, after buying a book during the annual religious festival of Magh Mela in Allahabad.</div></div></div><ul><li>Warren Buffett's Berkshire Hathaway confirmed it is investing in the parent company of Paytm. </li><li>The transaction is among the first of the company's investments in India.</li><li>Buffett said last year India is a "huge, enormous" market with "incredible" potential.</li></ul>Warren Buffett's Berkshire Hathaway is putting some of its massive cash pile to work in India.Berkshire confirmed Monday it has invested in One97 Communications Ltd., the parent company of Paytm, which is the largest mobile-payment company in India.Berkshire had been considering an investment of between $286 million to $357 million and a 3-4% stake in the company, <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/warren-buffett-in-talks-for-a-slice-of-paytm/articleshow/65556465.cms">the Economic Times</a> reported earlier Monday. That would bring the value of Paytm, which is not profitable, to more than $10 billion. The transaction could mark one of Berkshire Hathaway's first direct investments in India, the Economic Times added, but Buffett wasn't directly involved in it. Buffett has been eager to boost Berkshire Hathaway's business outside of health insurance, writing <a href="https://www.businessinsider.com/warren-buffett-berkshire-hathaway-annual-letter-companies-too-expensive-to-buy-2018-2">in a company letter this year</a> he wanted to do so through one or more "huge" acquisitions. Berkshire had <a href="https://www.businessinsider.com/warren-buffett-berkshire-hathaway-cash-balance-should-worry-investors-2018-8">a record $111 billion of cash</a> on its balance sheet last quarter.In an interview with local news channel ET Now last year, Buffett said the potential for the country is "incredible," calling it a "huge, enormous market.""If you tell me a wonderful company in India that might be available for sale, I'll be there tomorrow," he added.Other major Paytm investors include Chinese tech giant <a href="https://markets.businessinsider.com/stocks/baba-stock">Alibaba</a> and Japan's <a href="https://markets.businessinsider.com/stocks/softbank_1-stock">Softbank</a>. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/publishers-clearing-house-1-billion-company-sweepstakes-lawsuit-data-digital-direct-mail-2018-8">How Publishers Clearing House makes $1 billion a year</a></h3> <div> </div> </div>

You Searched For "Paytm acquisitions" and got 8 results

Paytm is competing with almost everyone in Indian e-commerce

Sanchita Dash

Paytm is just nailing the offline market with its recent acquisition of Shopsity

BI India Bureau

Zomato completes acquisition of Paytm's entertainment and ticketing business

ANI

Paytm could be spending big money for its insurance debut

Sanchita Dash

Paytm is pushing its QR payment method as an alternative to PoS, looks to reach out 1 crore offline sellers

BI India Bureau

Zomato to acquire Paytm's entertainment ticketing business for Rs 2,048 crore

PTI

RBI stops Paytm Payments Bank from opening new accounts

PTI

Warren Buffett's Berkshire Hathaway is entering a $1 trillion market in India

Gina Heeb

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