To pick up a majority stake in the Mumbai-based company E-commerce and digital payments platform Paytm is in talks with curated events platform Insider.in, said people conscious of the development. If the deal actualizes this would definitely be one of the biggest external investments made by this digital payment company.
Paytm is a Noida based company and the sources told TOI that Paytm is expected to invest about USD30 million into Insider.in,. Normally, Paytm invests about $5-7 million in other startups companies. A source said that “Paytm is in ongoing talks with the Vijay Nair-led firm as it wants to take on competitors like BookMyShow’s events business,”. Insider.in which is owned by one of the leading ticketing platforms in the country Only Much Louder (OML) for a wide range of events and properties like Bacardi NH7 Weekender and TV series The Dewarists.
A person very close with the concern told TOI that”Paytm is already present in the movie ticketing space and it wants to get a pie of the events business, which is a natural extension given it. They are also interested in Insider for its youth-oriented base of users,”.
If the talks go through, Company like Alibaba will get a majority stake in insider.in but its parent company will not get this benefit.