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Grapevine

Zomato Poaches Bookmyshow Exec, Plans Stadiums for New Unit

  • Zomato has hired Kunal Khambhati, former head of live events at Bookmyshow, for its 'Going Out' business unit, District.
  • District, yet to launch, will include restaurant booking, payments, concerts, event bookings, staycations, and holiday rentals.
  • Zomato, with cash reserves of Rs 12,500 crore ($1.5 billion), is considering investing in stadium infrastructure for live events.
  • The company recently acquired Paytm’s movie, sports, and live-events ticketing business for Rs 2,048 crore ($244 million).
  • Zomato's 'going-out' business posted revenues of Rs 257 crore ($30.6 million) in FY24, with a projected gross order value of Rs 10,000 crore ($1.2 billion) by FY26.

Source: The Arc

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Zomato buying Paytm ticketing business

What strategic advantages does Zomato aim to achieve by acquiring Paytm's ticketing business, and how does this move align with its broader vision of expanding beyond food delivery? Are they going to make changes in existing platforms?