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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

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

Whenever a company is acquired by another, a common question that arises is what will happen to the employees of the company that is being acquired? Recently, <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> made headlines with its acquisition 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>'s entertainment and ticketing business for Rs 2,048 crore. The all-cash deal, announced late Wednesday, marks a significant step in Zomato's efforts to broaden its horizons beyond food delivery and into the 'going-out' business. <keyword id="19901325" type="General" weightage="20" keywordseo="Deepinder-Goyal" source="keywords">Deepinder Goyal</keyword>, the CEO of Zomato, sent a letter to the company's shareholders, expressing optimism about the acquisition while acknowledging the challenges that lie ahead. He also revealed that Zomato will be absorbing around 280 Paytm employees. According to a report in ET, in his letter to shareholders, <keyword id="19895372" type="General" weightage="20" keywordseo="goyal" source="keywords">Goyal</keyword> said that the company is betting heavily on the team that will be onboarded as part of this acquisition. Unlike previous acquisitions, such as <keyword id="22892653" type="General" weightage="20" keywordseo="uber-eats-india" source="keywords">Uber Eats India</keyword> and Blinkit, where Zomato had established relationships with the teams involved, this deal introduces a new set of dynamics. "This acquisition is our first major acquisition where we are acquiring a team that we do not know very well," the Zomato CEO said. He also stressed on the importance of cultural integration, noting that the main driver of success would be the seamless assimilation of the new team into Zomato's "flattish culture." In the same letter, Goyal also talked about the potential for growth in this segment, pointing out that the success of the business would largely depend on Zomato's ability to introduce new use-cases such as shopping and staycations. He said, "We believe, over the next decade and beyond, going-out experiences will continue to grow strongly in lockstep with overall growth in lifestyle and consumption." One of the key elements of this acquisition is the impending launch of Zomato's new app, District, which is expected to go live in the coming weeks. This app will centralize various lifestyle services, including dining, movies, live events, and more, under a single platform. Initially, services will continue to be offered on the existing apps, such as Zomato, Paytm, Insider, and TicketNew. However, over time, these services will be migrated to District, creating a more streamlined and cohesive user experience. Goyal expressed confidence in the company's ability to manage the transition, highlighting that Zomato has roped in experienced team members, Rahul Ganjoo and Pradyot Ghate, to lead the execution. These two Zomans were instrumental in the successful transition of Uber Eats India to Zomato, and Goyal believes they will be key to ensuring a smooth migration of customers to the new platform. However, Goyal also acknowledged that some incentives might be required to encourage customers to move from the older apps to District. He described this as a marginal financial risk, which the company would try to minimize as much as possible.

Zomato will absorb around 280 Paytm employees, CEO Deepinder Goyal says

<keyword id="19898109" type="General" weightage="100" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="261" meta.entityid="Paytm">Paytm</keyword>'s parent company, <keyword id="20253123" type="General" weightage="20" keywordseo="One97-Communications" source="keywords" meta.keywordsubtype="org" meta.entityname="One97 Communications" meta.hostid="261" meta.entityid="One97 Communications">One97 Communications</keyword>, declared its Q2FY25 results today, announcing a one-time, exceptional profit of Rs 1,345 crore during the quarter, thanks to the sale of its entertainment ticketing business. The company's PAT (profit after tax) stood at Rs 930 crore. Notably, without this windfall gain, Paytm's finances would still be in red, with the company racking up losses worth Rs 415 crore. Paytm was in red in the year-ago period as well, incurring losses worth Rs 290.5 crore. This windfall profit also improved Paytm's EBITDA by Rs 388 crore on a QoQ basis. The company's revenue also saw a slight uptick of 10.5% quarterly to Rs 1,659 crore, as opposed to Rs 1,501 crore in the previous quarter. But on a year-on-year basis, Paytm's revenue dipped significantly by 34%. The company also announced that it has entered into a DLG (<keyword id="23641220" type="General" weightage="20" keywordseo="Default-Loss-Guarantee" source="keywords">default loss guarantee</keyword>) model for its merchant loans of about Rs 225 crore with SMFG India Credit. Under this arrangement, Paytm will be first in line to take a hit in case of a loss that emerges from borrowers defaulting or skipping their payments. "Following the regulatory framework and the emerging market practice, we see increased willingness from lenders to partner and allocate more capital in the default loss. The DLG model will help to increase disbursements with the existing partners and expand partnerships with new lenders for the loan distribution,” said the company in its earnings release today. The company's revenue from its payment business also inched up 9% on a quarterly basis, along with its revenue from <keyword id="19976433" type="General" weightage="20" keywordseo="financial-services" source="keywords">financial services</keyword>, which also grew by 34% QoQ. At present, Paytm's total merchant subscriptions stand at 1.12 crore, with the company garnering 3 lakh new merchants during the quarter. During the previous quarter, Paytm's <keyword id="20253122" type="General" weightage="20" keywordseo="gross-merchandise-value" source="keywords">gross merchandise value</keyword> (GMV) also inched up by 5% on a sequential basis, which experts anticipate will continue in the coming quarters, just as India braces for the festive season. Per its release, Paytm aims to achieve <keyword id="23641219" type="General" weightage="20" keywordseo="EBITDA-profitability" source="keywords">EBITDA profitability</keyword> (before ESOPs) by the fourth quarter of this financial year. However, investors remained unimpressed with Paytm's performance, with its share slipping by around 3.96% during the day to trade at Rs 697.20. The stock has a YTD (yield-to-date) of 7.91% during the year.

Paytm declares Q2 results, earns Rs 930 crore as windfall gains by way of sale of ticketing business to Zomato

<ul><li>Samsung has partnered with <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> to offer travel and entertainment ticket bookings in the <keyword id="20006622" type="General" weightage="100" keywordseo="Samsung-Wallet" source="keywords">Samsung Wallet</keyword> app.</li><li>Samsung users can also access tickets booked on Paytm through the Samsung Wallet app.</li><li>This comes soon after the launch of the Google Wallet app in India.</li></ul> Consumer electronics brand Samsung has partnered with One97 Communications, the parent company of Paytm to bring ticket-booking services to the Samsung Wallet in India. Samsung <keyword id="22039330" type="General" weightage="20" keywordseo="Galaxy-smartphone" source="keywords">Galaxy smartphone</keyword> users can now access Paytm's suite of services, including <keyword id="19938716" type="General" weightage="20" keywordseo="flight" source="keywords">flight</keyword> and bus bookings, movie ticket purchases, and event bookings, through the Samsung Wallet. The new feature is already live and all users have to do is update their Samsung Wallet app. “We are delighted to launch new features on Samsung Wallet in collaboration with Paytm. These features allow Galaxy smartphone users to easily purchase bus and airline tickets, as well as movie and event tickets, without needing to switch between multiple apps. Furthermore, users can access these tickets simply by swiping up on their Galaxy smartphone's home screen,” said Madhur Chaturvedi, Senior Director, MX Business, Samsung India. Galaxy users using the Paytm and Paytm Insider apps can add their tickets directly to Samsung Wallet using the 'Add to Samsung Wallet' functionality. <cmsannotation type="cmsannotation" annotationid="Samsung announces referral offer" comment="subhead" text="Samsung announces referral offer">Samsung announces referral offer</cmsannotation> Samsung has announced that it will soon roll out a referral program for the Samsung Wallet app. When you refer someone, you and your referee will both receive a ₹100 Amazon gift card when the person joins Samsung Wallet. In addition to this, Samsung and Paytm will soon announce an introductory offer, providing discount offers of up to ₹1,150 on first bookings to new users. “By combining Samsung’s cutting-edge technology with Paytm’s wide-ranging services, we are making it easier than ever for consumers to manage their bookings and payments through a single unified platform,” a Paytm spokesperson said. The partnership between the two companies comes soon after the launch of the<a href="https://www.businessinsider.in/tech/apps/news/google-wallet-launched-in-india-store-your-loyalty-cards-boarding-passes-and-more/articleshow/109941139.cms"> Google Wallet</a> app in India. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms">Tata Group reportedly looking to acquire a majority stake in Vivo India</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-30000-in-india/slidelist/110995645.cms">Best smartphones under ₹30,000 in India</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-now-allows-video-calls-with-32-people-screen-sharing-and-more/articleshow/110990939.cms">WhatsApp now allows video calls with 32 people, screen sharing and more</a>

Samsung Wallet gets ticket booking services as it partners with Paytm

Over<a href="https://www.businessinsider.in/business/news/how-indias-digital-payments-ecosystem-has-evolved-in-the-last-one-year/slidelist/90595832.cms"> 45 billion transactions</a> were carried out through the unified payments interface (<keyword id="6358921" type="General" weightage="20" keywordseo="upi" source="Orion">UPI</keyword>) in the fiscal year 2022, between April 2021 and March 2022. These transactions accumulated up to ₹84 lakh crore in the same time frame. This was nearly double of 22 billion transactions worth ₹41 lakh crore that was carried out in the previous fiscal year. This leaves no doubt that UPI is currently among one of the most popular digital payments systems available in India. Walmart-owned <keyword id="6357886" type="General" weightage="20" keywordseo="phonepe" source="Orion">PhonePe</keyword> has facilitated most of it, especially in the last fiscal. A simple calculation based on the monthly payments data shared by National Payments Corporation of India (NPCI) has revealed that PhonePe carried out 20.7 billion <keyword id="4052276" type="General" weightage="20" keywordseo="upi-transactions" source="Orion">UPI transactions</keyword> in FY2022. This is roughly 46% of the overall transactions. It was followed by <keyword id="2750705" type="General" weightage="20" keywordseo="google-pay" source="Orion">Google Pay</keyword>, which facilitated 35%, or 15.8 billion, of such transactions. <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>, or rather Paytm Payments Bank, continued to be a distant third biggest UPI app in the same fiscal with close to 13% market share. <keyword id="790242" type="General" weightage="20" keywordseo="whatsapp" source="Orion">WhatsApp</keyword> carried out 17 million transactions. <div type="image" title="WhatsApp carried out only 17 million UPI transactions last fiscal, PhonePe was at 20 billion" msid="90728801" hostid="261"></div> Well, this was all about the volume of transactions. The values or the amount transferred by these apps also showed a similar trend in FY2022. PhonePe continued to retain the top spot by facilitating transactions worth ₹39 lakh crore, which represents 46% of the overall transaction value. It was followed by Google Pay with 36% of overall transactions, with transactions worth ₹31 lakh crore. Paytm carried close to 8% UPI transaction in terms of number of value. Both WhatsApp and Amazon Pay have less than 1% market share in terms of value of transactions. <div type="image" title="WhatsApp carried out only 17 million UPI transactions last fiscal, PhonePe was at 20 billion" msid="90728810" hostid="261"></div> The next thing on the Reserve Bank of India’s (RBI) agenda is to make UPI more inclusive by enabling it for feature phone users and in offline mode. The central bank launched <a href="https://www.businessinsider.in/india/news/rbi-launched-upi123pay-here-is-how-upi-would-work-on-feature-phones/articleshow/90073275.cms">UPI123Pay</a> earlier in March especially for this purpose. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/abu-dhabis-ihc-to-invest-2-billion-primary-capital-in-three-adani-group-companies/articleshow/90725697.cms">Abu Dhabi's IHC to invest $2 billion primary capital in three Adani Group companies</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/zee-entertainment-rallies-sharply-in-one-month-on-strong-box-office-collection-of-the-kashmir-files-and-on-high-hopes-from-zee-sony-merger/articleshow/90725860.cms">Zee Entertainment rallies sharply in one month on strong box office collection of ‘The Kashmir Files’ and on high hopes from Zee-Sony merger</a>

WhatsApp carried out only 17 million UPI transactions last fiscal, PhonePe was at 20 billion

<ul><li><keyword id="3360525" type="PERSON" weightage="20" keywordseo="Alibaba-Cloud">Alibaba Cloud</keyword> is looking to expand its market in India and one-up its competitors.</li><li>It’s looking to do it in the most Chinese way possible, keeping its product flexible and cheap.</li><li>Although Alibaba Cloud in the process of wooing a few digital companies away from Amazon Web Services (AWS) — it’s now looking to get bigger companies on board.</li></ul>Alibaba Cloud is looking to expand its market in India. In a lot of ways, the company’s <keyword id="140601" type="COMPANY" weightage="20" keywordseo="database">database</keyword> management solutions aren’t all that different — but is already wooing away new-age digital companies like Zomato, <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> and <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword> from Amazon Web Services (AWS). Now, it is now looking to get bigger companies on board. The selling point for Alibaba Vice President Feifei Li is not very different from any other Chinese business ⁠— flexible and cheap. "Both (AWS Aurora and Polar DB) use shared storage architecture, which can serve up to 100 TB (terabytes) of data — but if you want to scale beyond that, like during a massive e-commerce operation, they need scalability beyond what shared storage can offer," Li told Business Insider. And, according to him, it costs a tenth of the AWS’ cloud services. But AWS doesn't agree. "It is inaccurate to say that PolarDB is available at a tenth of the cost as Amazon Aurora. If you consider a top of the line instance size, Amazon Aurora is still cheaper than PolarDB with more VCPUs (6 more VCPUs) on offer, and a secure virtualization platform (R5 instances powered by the AWS Nitro System)," the company told Business Insider. It also pointed out that even though Zomato, Paytm and BigBasket are on Alibaba Cloud, they're also using AWS simultaneously for other services. Li is in India to sell Polar DB, Alibaba Cloud’s relational database — a database in which a lot of different data sets can be compared and re-assembled without having to reorganise storage. Amazon’s customers, Alibaba-backed companies Currently, most of the company’s clients are small and medium enterprises (SMEs) — but most of the revenue comes from large companies. "We already have quite a few large businesses like <keyword id="96306" type="CITY" weightage="20" keywordseo="Reliance-Entertainment">Reliance Entertainment</keyword> and helped them launch across 150 countries," said Alex Li, General Manager of Alibaba Cloud South Asia. So, Alibaba Cloud’s real test will be when it tries to woo its next set of clients. Out of the four big names highlighted by Li, Alibaba Group has stakes in <a href="https://www.businessinsider.in/paytm-mall-completes-450-million-funding-round-from-softbank-and-alibaba/articleshow/64569914.cms">Paytm</a> and <a href="https://www.businessinsider.in/bigbasket-joins-unicorn-club-with-a-fresh-investment-of-150-million/articleshow/68624890.cms">BigBasket</a>. As Alibaba Cloud tries to woo Amazon’s customers, these are its major promises: <ol><li>It’s flexible. PolarDB addressed nearly 87 million requests per second during peak traffic helping Alibaba’s <a href="https://www.businessinsider.in/alibaba-just-had-the-biggest-online-shopping-day-of-all-time-nearly-tripling-every-companys-2017-black-friday-and-cyber-monday-sales-combined/articleshow/66580674.cms">11:11 Single Day</a> sale in China, which clocked a <a href="https://www.businessinsider.in/tech/news/alibaba-leaders-deny-sensational-claims-made-in-viral-weibo-post-that-said-the-chinese-e-commerce-giant-misreported-its-singles-day-sales/articleshow/72117515.cms">record-breaking</a> gross of <a href="https://www.businessinsider.in/retail/news/chaotic-photos-show-what-it-looks-like-when-alibaba-sells-38-billion-worth-of-merchandise-on-chinas-biggest-shopping-holiday-and-breaks-records/articleshow/72028088.cms">$38.4 billion</a>, according to the company.</li><li>It’s cheap. Li says the PolarDB is available at a tenth of the cost as AWS Aurora.</li><li>It’s tried and tested. "Not only do we have cloud database as a service, but we also provide database infrastructure for the entire Alibaba Group. That really helps us strengthen our technology and mature our product before we offer it to our customers," he explained.</li><li>It is fully compatible with MySQL. This is <a href="https://www.gartner.com/en/documents/3947472/magic-quadrant-for-cloud-infrastructure-as-a-service-wor">an important capability </a>since more businesses are already integrated with one type of database or another. Compatibility ensures that they can easily transfer their data and processes from one platform to the next. </li><li>Security. "We have some unique strengths, that Microsoft, Google and AWS don’t have. For example, we have a product called AllEncrypted. It combines database kernels with security software like Intel SGX. It allows the customer to encrypt their data using a private, secret key — and they don’t have to share that key with us," said Li.</li><li>Keep tabs on data. In the near future, blockchain technology will be integrated, which will allow authentication of the data through database logs.</li></ol>Alibaba Cloud is focusing all of its energies on India, and for good reason. Not only are local businesses looking to shift to the cloud rather than set up their own servers, but India’s impending <a href="https://www.businessinsider.in/policy/news/indias-new-data-protection-is-in-the-works-and-companies-will-only-have-to-pay-2-million-for-violations/articleshow/72381112.cms">Personal Data Protection Bill</a> is likely to push for <a href="https://www.businessinsider.in/tech/news/data-localisation-wont-help-local-firms-or-improve-privacy-but-it-could-cost-india-43-billion/articleshow/72251167.cms">localisation</a> — and Alibaba already has two data centres in the country. See also: <a href="https://www.businessinsider.in/tech/news/data-localisation-wont-help-local-firms-or-improve-privacy-but-it-could-cost-india-43-billion/articleshow/72251167.cms">Data localisation won't help 'local' firms or improve privacy — but it could cost India $43 billion</a> <a href="https://www.businessinsider.in/whatsapp-data-may-shift-to-the-cloud-but-may-no-longer-be-as-encrypted/articleshow/65475359.cms">WhatsApp data may shift to the cloud, but may no longer be as encrypted</a> <a href="https://www.businessinsider.in/tcs-and-cisco-join-hands-for-a-new-cloud-product/articleshow/70673984.cms">TCS and Cisco experimented a cloud service with a large insurer — and now they are ready to launch</a>

Alibaba Cloud is trying to woo Amazon's customers in the most Chinese way possible

<ul><li>Mini apps are a ‘custom-built mobile website’ with the same functionalities as a regular app. </li><li><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> is offering no fees currently for developers to list and distribute their apps on the platform.</li><li>Over 300 app-based service providers such as Decathlon, Ola, Park+, Rapido, Netmeds, 1MG, Domino's Pizza, FreshMenu, NoBroker have already joined the program. </li></ul>After reports of Indian startups getting together to launch their own app store to tackle Google’s monopoly, Paytm has now announced that it has launched an Android mini-app store for Indian developers. "I am proud that we are today launching something that creates an opportunity for every Indian app developer. <keyword id="10051089" type="UNKNOWN" weightage="20" keywordseo="paytm-mini-app-store">Paytm Mini App Store</keyword> empowers our young Indian developers to leverage our reach and payments to build new innovative services. For Paytm users, it will be a seamless experience that doesn't require any separate download and enables them to use their preferred payment option,” said Vijay Shekhar Sharma, Founder &amp; CEO, Paytm in a statement. <div type="image" title="Paytm" msid="78485082" hostid="261"></div> Mini apps are a ‘custom-built mobile website’ with the same functionalities as a regular app. It is a hybrid solution between a website and an app. The mini-app store also has its own developer dashboard analytics, payment collection methods, and marketing tools. “Paytm has created the digital infrastructure to enable small developers and businesses to set up low-cost, quick-to-build mini-apps which can be built using HTML and javascript technologies,” said the company. Paytm is offering no fees currently for developers to list and distribute their apps on the platform. According to the company’s statement, over 300 app-based service providers such as Decathlon, Ola, Park+, Rapido, Netmeds, 1MG, Domino's Pizza, FreshMenu, NoBroker have already joined the program. The development comes as many recent moves from Google have put Indian startups in a tough spot. It began with Paytm being removed for a few hours from the Play Store. Google had said that Paytm violated rules regarding fantasy gaming promotions. This was followed by Google rolling out new payment policies where developers would have to pay a <a href="https://www.businessinsider.in/tech/news/google-plans-to-shut-the-loophole-that-lets-netflix-spotify-and-tinder-avoid-paying-its-30-app-tax/articleshow/78383294.cms">30% tax</a> on all in-app purchases and even included entertainment, education, dating, and fitness apps in the list. However, Google has <a href="https://economictimes.indiatimes.com/tech/internet/google-defers-move-to-levy-30-fee-to-april-2022/articleshow/78484208.cms">reportedly </a>deferred this new policy until April 2022. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-tcs-hcl-tech-hero-motocorp-vedanta-solar-industries-iti-and-others/articleshow/78484703.cms">Top stocks to watch— RIL, TCS, HCL Tech, Hero MotoCorp, Vedanta, Solar Industries, ITI and others</a> <a href="https://www.businessinsider.in/tech/apps/news/paytm-trains-its-guns-on-google-while-the-payments-app-is-back-in-play-store/articleshow/78190088.cms">INTERVIEW: Paytm trains its guns on Google while the payments app is back in Play Store</a>

Vijay Shekhar Sharma fires the shots – Paytm launches its own Android mini-app store to take on Google

<ul><li>Gamezop is a multigame platform that allows users to play games with a single tap and without installing any apps.</li><li>Between last year and now, Gamezop has had an impressive growth, it has tripled its revenues and user numbers.</li><li>We speak to <keyword id="3248633" type="PERSON" weightage="20" keywordseo="Yashash-Agarwal">Yashash Agarwal</keyword>, CEO and Founder, Gamezop who tells us that in 2020, nearly 400 million Indians played mobile games and nearly 272 million of those played on Gamezop. He tells us about the platform's journey so far.</li></ul>The Indian gaming market is headed towards explosive growth in the next four years, according to a recently released report by KPMG. According to its reports, ‘Beyond the tipping point – A primer on Casual gaming in India’, overall online casual gaming sub-segment in India stood at a size of Rs 60 billion in FY21 and is projected to grow at a CAGR of29% over FY21-25, to reach a size of Rs 169billion. The opportunities in the segment are massive and in the last few years, we have seen an impressive amount of e-gaming platforms come to the fore and engage with people. However, it is not just the likes of Dream11 and MyCircle11 that are helping the segment grow. Over the years, many of us have come across gaming sections added to different websites and publications and most of us have ended up spending much more time on these websites than we otherwise would have, thanks to the gaming sections that are simple to play. Homegrown multi-games platform Gamezop is one such platform that is behind a lot of the gaming sections you see on many non-game websites and apps. Over the years, the platform has built a robust business model where it does not have to spend anything on creating the games it hosts, and is yet able to engage with close to 40 million players ever month. This has also given advertisers an opportunity to target an engaged set of audiences on Gamzop’s platform. Gamezop had also raised Rs 32 crore in a funding round led by <keyword id="9833412" type="UNKNOWN" weightage="20" keywordseo="bitkraft-ventures">Bitkraft Ventures</keyword> in August last year. We recently caught up with Yashash Agarwal, CEO and Founder, Gamezop, who told us how the platform has been building its business, steadily increasing the number of platform it hosts on while also becoming profitable. Excerpts: Q) Walk me through the journey of Gamezop. How did it come into being, what was the gap in the market you were trying to fill? Gamezop was started when we realized that the experience of getting into casual games was too cumbersome owing to the necessity for installing each game as an app first. Before YouTube was launched in 2005, each video was downloaded as a file and played on a media player. That is exactly where smartphone gaming is today:games need to be installed individually, which is extremely frictional. Gamezop makes games instant, like YouTube does with videos. On our game center, users play games just like they play videos: with a single tap and without the need to install apps. Q) What kind of growth have you witnessed in the past few months? You are already profitable? Gaming companies around the world have seen their heyday in the past few months with people spending so much time indoors. Between last year and now, we have tripled our revenues and user numbers. The interesting thing about our business is that we are growing while being profitable. We have kept our unit economics quite disciplined and our Series A last year hasn’t changed that. Q) How does Gamezop work? Where do users find you? Gamezop is a multigame platform that works very unconventionally to acquire users – rather than pushing app installs of games, we embed our game centre within non-gaming apps and websites, allowing their users to play games instantly. This way, we do not have to spend money to acquire users inorganically but can piggyback on the distribution of other products. The idea is to not push another product to users but meet them within popular apps and websites which they are already using. Q) How do apps and websites using your platform benefit? Apps and websites that integrate our game centre see their engagement levels going up immediately. This is because our entire offering can be consumed by users within these products. Let’s say an OTT platform adds a gaming section within their product through our game centre. Naturally, users who have affinity for gaming will now start spending additional time on the platform because they will engage in two forms of content and not just one. You will find our games within numerous news, media, and entertainment products, including all key <keyword id="6356641" type="UNKNOWN" weightage="20" keywordseo="Times-of-India">Times of India</keyword> properties, <keyword id="3163762" type="PERSON" weightage="20" keywordseo="SonyLIV">SonyLiv</keyword>, Amazon, MSN, Goibibo, and <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>. Q) How many apps and websites have integrated your platform? What kind of user base do you have currently through your network? Over 2,800 products have Gamezop powering games for their users. This allows us to entertain over 40 million users each month. In 2020, nearly 400 million Indians played mobile games; 272 million of those played on Gamezop. Q) Are your games non-intrusive or can ads be put into the games too? We can run brand promotions within our games in a non-intrusive manner. No ads appear during the gameplay. However, in breakthrough moments such as when the game is loading or the user has crossed a level, we see that the users have very high attention. This is where we place brands and allow them to tell their story. Q) Is your platform available internationally too? More than 50% of our revenues come from outside India. Our games have actually done very well internationally. Q) What are a few factors that have helped take you where you are? Are there more such platforms available or do you have the first-movers' advantage? Users don’t need to download newspapers as PDFs or music as mp3 files. They are able to consume these forms of content online. However, users had to download gaming apps to play games. As Gamezop removed this friction of installing gaming apps, it genuinely solved a problem for the users which has played a big hand in its growth. There are various gaming platforms out there. Not everyone is looking to deliver high-quality gaming experiences within third-party products. Q) E-gaming is witnessing impressive growth in India. Do you have plans of diversifying your offering, work closely with game developers and launch your own games in the future? We have truly amazing developers making games for the Gamezop game centre so the need to do it ourselves hasn’t arisen. Q) How have you been helping the developer community? How does this community benefit from being a part of Gamezop? Gamezop is truly excited to be able to play role in nurturing the gaming ecosystem. There are over 300 games on Gamezop that we have acquired from over 75 developers. With these developers, our relationship is anything but transactional. We work very closely with them right of ideating the game to finally launching it on our platform. We are happy to say that we have opened a new stream of monetisation for these game developers and are determined to deepen our relationships with them. The success of Gamezop is closely tied to the success of the game developers. We have a robust community of engaged game developers where ideas and exchanged. A well-knit network of professionals always raises the bar for everyone. Q) How are you different from other gaming platforms? How big is your team? Are you also looking for funding? Smartphone gaming is tied to pushing installs of apps, and most gaming platforms seem comfortable with that. With our approach of having a game centre for instant games, we are challenging the status quo. We have a 75-member team. We raised our Series A round last year led by Bitkraft Ventures. We have been growing profitably since and do not see a need to raise capital at the moment. Q) What is your vision for Gamezop? Just like using Gmail or Facebook is the default log-in method for most apps, Gamezop wishes to be the default entertainment section within apps around the world.

Here’s how this gaming platform engaging with 40 million users every month has been helping apps and websites increase their engagement levels

<ul><li>Launches 3 unique ads on digital platforms for raising awareness on direct bank transfers using mobile number.</li><li>Showcases easy of Money Transfers from Paytm app at Zero charge, without the need for Wallet KYC.</li></ul>Paytm has launched 3 new ads on social media, as part of its new #MoneyTransferHuaEasy campaign to raise awareness of how instant money transfer through the Paytm app remains a quick, safe and easy way to directly send and receive money into one's Bank accounts. The films, targeted at millenials, highlight how by simply choosing the recipient's Mobile number, users can transfer money directly from their bank a/c at zero charge. Without the need for wallet KYC. The films feature internet sensations <keyword id="8944292" type="PERSON" weightage="20" keywordseo="saloni-gaur">Saloni Gaur</keyword>, Danish Sait and Paytm's very own, and the guy best known for Trivago's ads, <keyword id="193898" type="PERSON" weightage="20" keywordseo="Abhinav-Kumar">Abhinav Kumar</keyword>. <div type="Youtube" id="oNUwQ7Zirfo" title="Money Transfer hua Easy! ft. Abhinav Kumar" thumbUrl="https://i.ytimg.com/vi/oNUwQ7Zirfo/mqdefault.jpg"></div> Prior to this, the company had launched multiple TV ads that had struck a chord with millions of Indians. While the public interest in the entire campaign has remained massive, certain scenes from the earlier ads have become especially popular due to the portrayal of episodes from everyday lives. These included a scene from an Indian wedding ceremony where the groom transfers money to his sister-in-law’s bank account by just using mobile number and in return, gets back his shoes from her, had a take on the popular Indian marriage tradition. Another scene of a young female tenant paying her rent through the Paytm app, to her landlord's shy son, also got major positive reviews. <div type="Youtube" id="e2hjxPf0T4E" title="Money Transfer hua Easy! ft. Saloni Gaur" thumbUrl="https://i.ytimg.com/vi/e2hjxPf0T4E/mqdefault.jpg"></div> With the latest series of films, the company has now released 6 large scale entertaining films as part of its initiative to highlight the ease of making digital payments without the need of completing their Wallet KYC. Apart from the obvious benefits, users are also assured of sturdy security architecture, the best success rate for transactions in the industry and a chance to win assured cashbacks. <div type="Youtube" id="6b0jFDTNGs0" title="Money Transfer hua Easy! ft. Danish Sait" thumbUrl="https://i.ytimg.com/vi/6b0jFDTNGs0/mqdefault.jpg"></div> Abhinav Kumar, Vice President at Paytm said, "Paytm remains committed to expanding the reach of affordable and easy to use technology, to every citizen. We believe that digital payments solutions are not only a great enabler in addressing daily challenges but also helps improve the quality of lives of our fellow countrymen. Consumers now have the option of instantly making payments directly from their Bank accounts, by simply entering the recipient’s mobile number on the Paytm App. No other steps such as Wallet KYC are required, while transaction charges are also absent. The new marketing campaign reflects that and is geared around taking forward this message to the consumers, making them aware of the digital payments options they have. It also aims to further promote our mission to increase seamless digital transactions across the country."

Trivago’s Abhinav Kumar features in his first Paytm ad

<ul><li>Indian developers and startups are building an alliance to consider launching their app store – going against the tech giant <keyword id="6355629" type="DEFINITION" weightage="20" keywordseo="google">Google</keyword>.</li><li>Google’s recent rollout of new payment policies where developers would have to pay a 30% tax on all in-app purchases, did not bode well with Indian startups. </li><li>Google has also sent violation notices to startups like Paytm, Swiggy, and Zomato for their in-app gamification concerning IPL.</li></ul>Indian developers and startups are getting together for a revolt of sorts – by building an alliance against the tech giant Google. According to <a href="https://techcrunch.com/2020/09/30/indian-startups-explore-forming-an-alliance-and-alternative-app-store-to-fight-googles-monopoly/">reports</a>, the likes of Paytm's Vijay Shekhar Sharma, MakeMyTrip’s Deep Kalra, and many other startup founders are forming an alliance to consider an <keyword id="10031407" type="UNKNOWN" weightage="20" keywordseo="Indian-app-store">Indian app store</keyword>. The development comes as many recent moves from Google have put Indian startups in a tough spot. It began with Paytm being removed for a few hours from the Play Store. Google had said that Paytm violated rules regarding fantasy gaming promotions. Google had said that “offering cashbacks and vouchers alone do not constitute a violation of our Google Play gambling policies”. It also let out a warning in its statement that further violations will make for stricter actions. Sharma had then gone on record to say that Google was acting like the “<a href="https://www.businesstoday.in/current/corporate/google-is-judge-jury-executioner-paytm-hits-back-after-play-store-takes-down-app/story/416522.html">judge, jury and executioner</a>”. It was followed by Google rolling out new payment policies where developers would have to pay a <a href="https://www.businessinsider.in/tech/news/google-plans-to-shut-the-loophole-that-lets-netflix-spotify-and-tinder-avoid-paying-its-30-app-tax/articleshow/78383294.cms">30% tax</a> on all in-app purchases and even included entertainment, education, dating, and fitness apps in the list. Although the tech giant had said this policy is only applicable to less than 3% of developers with apps on Google Play, the Indian developer community didn’t seem too happy about it. Many took to Twitter to say that it’s high time India needs its own app store. <div type="twitter" handle="harshilmathur" handlename="Harshil Mathur" image="http://pbs.twimg.com/profile_images/1073516284837425153/ODQ9QvTu_normal.jpg" favoritecount="351" retweetcount="41" status="India needs a local app store long term else 30% tax will eat up most businesses, is anyone trying to build one? https://t.co/cSdLvjPFVi" createdat="1601359795000" id="1310824105503932417"></div> <div type="twitter" handle="TVMohandasPai" handlename="Mohandas Pai" image="http://pbs.twimg.com/profile_images/563397282020618240/BsxVmVtk_normal.jpeg" favoritecount="390" retweetcount="107" status="Yes, we need an Indian App Store @GoI_MeitY @rsprasad @buzzindelhi @sharads Can Digital india do this?… https://t.co/YF5bAkRQJV" createdat="1601368752000" id="1310861673540931584"></div> <div type="twitter" handle="deepakabbot" handlename="deepakabbot" image="http://pbs.twimg.com/profile_images/1197371543287816192/pYK77Tn7_normal.jpg" favoritecount="385" retweetcount="117" status="Play Store's new payments policy from 20-1-2021 has also now included education, dating &amp; fitness to use google bil… https://t.co/SND7YF0jiE" createdat="1601349519000" id="1310781004123054081"></div> <div type="twitter" handle="kunalb11" handlename="Kunal Shah" image="http://pbs.twimg.com/profile_images/1190747917998546944/D3U5FNa7_normal.jpg" favoritecount="1034" retweetcount="34" status="Like gaming maybe dating and education apps may soon get off app stores and get users to “side load” in hopes to save costs." createdat="1601357631000" id="1310815029533356033"></div> Recently, even food tech unicorns Swiggy and Zomato fell on the wrong side of Google’s policies. Both the startups received notices for their cashback and offer related to the IPL for promoting in-app gamification. Zomato confirmed the development to <a href="https://tech.economictimes.indiatimes.com/news/internet/google-sends-notice-to-swiggy-zomato-for-violation-of-play-store-guidelines/78407479">ET</a> and said, “We are a small company and have already realigned our business strategy to comply with Google’s guidelines. We will be replacing Zomato Premier League with a more exciting program by this weekend.” Swiggy also has hit pause on its IPL-led games on the app. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/chemcon-shares-list-at-731-double-the-issue-price/articleshow/78420493.cms">Chemcon makes a lot of money for its IPO investors — shares list at double the issue price</a> <a href="https://www.businessinsider.in/business/news/reliance-retail-raises-another-1875-crore-as-silver-lake-comes-back-with-an-additional-investment/articleshow/78412992.cms">Reliance Retail raises another ₹1,875 crore as Silver Lake comes back with an additional investment</a>

You Searched For "paytm s entertainment" and got 11 results

Zomato completes acquisition of Paytm's entertainment and ticketing business

ANI

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

PTI

Zomato will absorb around 280 Paytm employees, CEO Deepinder Goyal says

Divyanshi Sharma

Paytm declares Q2 results, earns Rs 930 crore as windfall gains by way of sale of ticketing business to Zomato

BI India Bureau

Samsung Wallet gets ticket booking services as it partners with Paytm

Sourabh Jain

WhatsApp carried out only 17 million UPI transactions last fiscal, PhonePe was at 20 billion

Kritti Bhalla

Alibaba Cloud is trying to woo Amazon's customers in the most Chinese way possible

Prabhjote Gill

Vijay Shekhar Sharma fires the shots – Paytm launches its own Android mini-app store to take on Google

Sanchita Dash

Here’s how this gaming platform engaging with 40 million users every month has been helping apps and websites increase their engagement levels

Samarpita Banerjee

Trivago’s Abhinav Kumar features in his first Paytm ad

BI India Partner

Indian startup giants are considering a 'Made in India' alternative for app store — in a bid to tackle Google's 'monopoly'

Sanchita Dash

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