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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

Following the success of hosting <keyword id="6354427" type="General" weightage="50" keywordseo="apple" source="Orion">Apple</keyword> <keyword id="6354606" type="General" weightage="80" keywordseo="iphone" source="Orion">iPhone</keyword> 14 and iPhone 14 Pro on the platform last year, Zomato-owned quick grocery delivery platform <keyword id="12724311" type="General" weightage="20" keywordseo="blinkit" source="Orion">Blinkit</keyword> on Friday said that they again partnered with Unicorn, Apple premium reseller to deliver the latest 'Make-in-India' iPhone 15 and iPhone 15 Plus at your doorsteps if you live in Delhi NCR, Mumbai, Pune and Bengaluru. iPhone 15 and iPhone 15 Plus are now officially going on sale in India, including on the Blinkit platform. Blinkit customers will be able to avail no-cost EMI, low-cost EMI and cashback up to Rs 5,000 on eligible HDFC cards. "This unique association is global first and we are certain this will lead to pure joy for our customers who appreciate the convenience of getting highly anticipated products delivered to their doorstep, almost instantly," Albinder Dhindsa, Co-Founder and CEO of Blinkit, said in a statement. Dhindsa also shared the development on X, adding "Super proud of the platform that can put the new iPhone in your hands on launch day in 10 minutes!". Available in 6.1-inch and 6.7-inch display sizes, iPhone 15 and iPhone 15 Plus are available in pink, yellow, green, blue, and black finishes in 128GB, 256GB, and 512GB storage capacities, starting at Rs 79,900 and Rs 89,900, respectively. --IANS shs/prw

Blinkit starts home delivery of 'Make-in-India' iPhone 15, 15 Plus

New Delhi, After an entrepreneur complained in a LinkedIn post that a <keyword id="830092" type="General" weightage="100" keywordseo="zomato" source="Orion">Zomato</keyword> delivery agent advised him to cheat the company by paying some money directly to him and enjoy the food, the company's Founder and CEO <keyword id="476451" type="General" weightage="50" keywordseo="deepinder-goyal" source="Orion">Deepinder Goyal</keyword> said he is "aware" of this fraud and is "working to plug the loopholes". Vinay Sati posted that a Zomato delivery agent suggested that from next time, pay him Rs 200 or Rs 300 and enjoy food worth Rs 1,000. "Aap bas mujhe 200rs, 300rs de dena or 1000rs ke khane ke maje lena," Sati quoted the agent as saying in the post. The agent allegedly told him that "I will show it to Zomato that you have not taken the food but will also give you the food you ordered". "I got goosebumps hearing what scam is happening with Zomato," posted Sati. He ordered some Burger King burgers from Zomato and made the online payment. "And as soon as the delivery boy came after 30-40 minutes, he told me that sir, don't pay online next time," said the entrepreneur. "He said that next time when you will order food worth 700-800rs through COD (cash on delivery) you only have to pay Rs 200 for that." Sati said: "Deepinder Goyal ji, now don't say that you don't even know that this is happening?" Goyal replied: "Aware of this and working to plug the loopholes". SEE ALSO: <a href="https://www.businessinsider.in/business/news/zomato-bharatpe-nykaa-and-more-the-revolving-door-for-top-execs-at-new-age-companies/articleshow/96728402.cms">Zomato, BharatPe, Nykaa and more: the revolving door for top execs at new age companies</a> <a href="https://www.businessinsider.in/business/news/swiggys-losses-jump-2x-to-3629-crore-in-fy22-layoffs-coming/articleshow/96682420.cms">Swiggy's losses jump 2X to ₹3,629 crore in FY22, layoffs coming</a> <a href="https://www.businessinsider.in/india/news/delivery-agents-cab-drivers-on-ride-hailing-apps-not-making-sustainable-living-wage-says-fairwork-india-report/articleshow/96572900.cms">Delivery agents, cab drivers on ride-hailing apps not making sustainable living wage, says Fairwork India report</a>

Zomato CEO says aware of fraud at delivery agents' end, fixing it

<ul><li>2020 has indeed been a defining year for all delivery businesses in India.</li><li>However, this did not affect India's eternal love for <keyword id="41887" type="COMPANY" weightage="20" keywordseo="biryani">Biryani</keyword>. </li><li>Biryani was the most ordered dish on Zomato, Swiggy and Dunzo Bangalore. </li></ul>2020 has made me, as Micheal Scott puts it, a ‘little stitious’. I feel like I should hang a Nimbu Mirchi on Chicken Biryani’s Handi. Who knows what 2021 might bring along in the last level of Jumanji? What if I don’t see the elaichi in my Biryani and end up biting into it next year? (shrieks at the idea of it) <div type="image" title="Micheal scott meme" msid="80044330" hostid="261"></div> With the majority of the population being shut indoors for a larger part of 2020, Indians turned to their favourite food to cure their isolation blues. During this ‘unprecedented year,’ the only constant has been our undeniable love for good food. Food made quarantining, the long working hours and staying far from loved ones, a little easier and tastier. Some people put on their chef’s hat, others decided to order happiness from delivery apps like Swiggy, Zomato and Dunzo in the form of Biryanis. Our routines altered, we started exercising and jumped from one fitness app onto the other, but Biryani was that constant bright bowl of happiness. Why Biryani, you ask? Biryani is that pot of happiness that never disappoints. “Biryani ek art hai, art.” It takes you on a roller-coaster ride with its comforting warmth, spices that bring water in your eyes, elaichi (well, who put you here?), and its aroma. Like 2020, it is multi-layered but each layer promises something exciting and it also has different versions like Kolkata biryani, Muradabadi biryani, Hyderabadi Biryani, Ambur biryani, to name a few -- so that you never get bored. It is the best sleep inducer that makes a boring Zoom call interesting. It doesn’t burn in a hole in your pocket either. You can also take a picture of it to add some colours to your Instagram feed and your DMs flooding with, “akele akele” is just a perk that comes with it. Just a mention of it is enough to make one’s mouth water and feel hungry. Need I go on? Rebel Foods’ Behrouz Biryani even released a campaign to celebrate India’s love for Biryani. Speaking on why Biryani is special, Indrajit Ghosh, Global Head of Design &amp; Communication, Rebel Foods, said, “Biryani is not just-another dish in India. It evokes emotions and holds a special place in everyone’s lives.” It goes without saying that Indians’ love for Biryani was unaffected by the pandemic this year. In fact, the mighty Chicken Biryani reaffirmed its place as India’s favourite dish. It was the most ordered dish on FoodTech apps like Zomato, Swiggy and Dunzo. With a whopping 44,30,008 orders on Zomato and 5.5 lakh on Swiggy, it has enjoyed popularity across all states, leaving behind pizza, pasta and french fries. As per Swiggy’s StatEATstics report, Veg, Chicken, Mutton or Aloo, collectively some form of Biryani was ordered more than once every second in 2020! For every Veg Biryani, there were six Chicken Biryani orders. Chicken Biryani was the number one sold dish, Mutton Biryani snagged the 5th spot. Swiggy also added 3 lakh new customers because of Biryani as they made their debut on the app by ordering the dish. Zomato, on the other hand, delivered 22 biryani every minute in 2020! After the lockdown eased in our country, Zomato received around 44 lakh plus orders for Biryani and it even made a <a href="https://www.businessinsider.in/advertising/brands/news/zomato-wins-us-again-with-its-email-marketing-strategy-this-time-with-a-mailer-containing-biryanis-cv/articleshow/77871245.cms">CV </a>for its most-ordered dish to woo its consumers. <div type="image" title="biryani (1)" msid="80044372" hostid="261"></div> On Dunzo, Bangalore ordered the most Chicken Biryanis amongst other states. Google Trends’s interest chart is another proof why India’s love for Biryani is eternal. <div type="image" title="biryani interest - Google trends" msid="80044377" hostid="261"></div> Biryani also made Dominos’ franchise owner, Jubilant, fatter in November as its <a href="https://www.businessinsider.in/stock-market/news/dominos-pizza-parent-jubilant-foodworks-shares-rally-to-new-record-after-it-launches-biryani-brand-in-india/articleshow/79774051.cms">share prices</a> soared by 7%. It was shortly after Jubilant Foodworks announced a new brand called Ekdum! with a variety of biryanis from across India. It also filled the holes in our hearts as singles were responsible for more than 70% biryani orders, revealed Swiggy. Here's hoping 2021 doesn't break our love affair with this regal dish.

Biryani was a constant bright spot in our lives in 2020, Zomato, Swiggy and Dunzo give us the proof

<ul> <li>Demat account, trading application and UPI ID are mandatory if you are applying for an initial public offering (IPO).</li><li>Upcoming IPO of Zomato can also be applied before its IPO opening date.</li><li>There is already a lot of buzz around Zomato's ₹9,375 crore IPO.</li></ul>2021 seems to be a year of the initial public offerings (IPOs) with back to back listings happening almost every week. So far this year, 32 IPOs have been listed, according to BSE data. Presently, the upcoming IPO that has created a lot of buzz is Zomato, a food delivery startup that is currently valued at around $8.1 billion. Many of you may want to subscribe to Zomato’s IPO for one common reason that most of us have seen its growth journey very closely over the years. <div type="Article" hostid="261" msid="78290664" title="Best inverters for home use in India" mstype="2" mssubtype="0"></div> An IPO is the first sale of shares by a private company looking to raise capital from investors and turn itself into a public company. To invest in an IPO, you need to apply to buy a ‘lot of shares’ from the market. The bidding for these IPOs is usually open for three days particularly during market hours. Now, let us understand how to invest in IPOs. A Demat account, a trading application like Zerodha, Angel Broking etc and UPI ID on BHIM app are necessary if you want to invest conveniently in an IPO. Unified payment interface (UPI) is a banking system for money transfers on payment apps like Google Pay, PhonePe and so on. One of the simplest ways to track IPOs and invest in them is through trading platforms. Here’s how you can do it through Zerodha’s Kite application, which is meant for trading stocks and commodities. <ul><li>Login to the mobile app and select the IPO option under console. If you’re logging in through desktop, then go to console -- portfolio -- IPO.</li><li>You will find a list of IPOs that are open for investment. Select the IPO you want to invest in.</li><li>Enter your UPI ID from the BHIM app. Ensure your UPI ID is mapped to your personal bank account. </li><li>Select investor type for your application. </li><li>Enter the lot size (number of shares required to buy in one lot) announced by the company.</li><li>Tick on the cut off price for more chances of allotment of shares as it indicates investor’s willingness to subscribe to shares at any price discovered within the price band. Cut off price is the issue price.</li><li>Retail investors can bid for three lots. </li><li>After this step, click on the check box to confirm and submit.</li><li>The last step is to accept the mandate request for proceeding with IPO on your BHIM UPI app. Once you accept the mandate, the amount of funds for IPO will be blocked till the allotment. </li><li>Now wait till the allotment date of shares to see if you have received the lot size you bid for.</li></ul>Meanwhile you can also invest in Zomato’s pre application offer through Paytm Money Paytm Money has for the first time allowed users to apply for an IPO before the actual IPO opening. This feature is built to help a large proportion of investors who do not trade actively and may miss out during market hours. Basically, a retail investor can plan an IPO order 24x7 on days when a pre-open IPO is enabled. Pre-IPO feature is currently live on Paytm Money’s mobile app. The process to apply in a pre IPO is similar to that of other trading platforms. You just need to fill your investor details, lot size and accept the mandate on BHIM app. Another way to invest is through your bank. This option is generally available between 5 a.m. and 11 a.m. on the bank’s website. Here’s how to do it: <ul><li>Log in to your bank’s net banking account. </li><li>Go to the investment section and select the IPO option.</li><li>Fill your investment and bank account details to complete the verification process.</li><li>Later select the IPO you want to apply.</li><li>Enter the number of shares and bid price.</li><li>Read and accept ‘terms and conditions’ documents. </li><li>Submit your application.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-raises-3-6-billion-at-a-valuation-of-over-37-billion/articleshow/84338594.cms">Flipkart raises $3.6 billion at a valuation of over $37 billion (businessinsider.in)</a> <a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms">Payments firm MobiKwik files for ₹1,900 crore IPO, reportedly to seek $1 billion valuation | Business Insider India</a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a>

You Searched For "Zomato Live" and got 5 results

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

PTI

Blinkit starts home delivery of 'Make-in-India' iPhone 15, 15 Plus

IANS

Zomato CEO says aware of fraud at delivery agents' end, fixing it

IANS

Biryani was a constant bright spot in our lives in 2020, Zomato, Swiggy and Dunzo give us the proof

Karuna Sharma

Zomato IPO: Here’s how to apply via banks and apps like Zerodha, Paytm Money

Bhakti Makwana

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