Moneycontrol
Jul 13, 2017 04:44 PM IST | Source: Moneycontrol.com

Paytm acquires majority stake in OML's ticketing platform Insider.in

The acquisition will allow users to book tickets for events such as NH7 Weekender, EDC and The Grub Fest from the Paytm app itself.

Moneycontrol News 

Digital payments startup Paytm has acquired a majority stake in OML Entertainment backed ticketing platform Insider.in.

The acquisition will allow users to book tickets for events such as NH7 Weekender, EDC and The Grub Fest from the Paytm app itself.

"From the first meeting with Vijay Shekhar and Madhur, we realised that Paytm was a perfect partner for Insider. We are excited to join forces with them and build out the best event discovery and ticketing experience in India," said Vijay Nair, founder, OML.

Insider.in was earlier owned and operated by OML that produces music properties such as the NH7 Weekender and The Dewarists, and the comedy festival Stage42.

"At Insider, we curate the best events and experiences so users can seamlessly discover the best way to spend their leisure time. Our platform also provides tools, data and analytics to organisers that enable them to conceptualise, market and execute their events more efficiently," said Shreyas Srinivasan, founder and CEO, Insider.in.

According to Paytm, India’s organised events industry is currently at Rs 4,000 crore, with organised sporting leagues and events accounting for the largest portion of ticket sales. Online ticketing accounts for a mere 10 percent of the overall volume since customers face hurdles in the form of limited event discovery.

"We believe that digital discovery and events marketing expertise will increase the supply of quality events in India. This is a natural extension for us as we continue to build India’s go-to destination for online movies and events,” said Madhur Deora, Chief Financial Officer and SVP, Paytm.
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