One quick thing: WeWork Inc gets CCI nod to exit Indian unit

In today’s newsletter: 

• Inside Zomato's Paytm Insider play
• Paytm charts recovery path
• Infosys targets key sectors with AI marketing suite

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One of the first types of e-commerce to happen in India was booking movie tickets online — it came much before things like food delivery or ride hailing. But, it has been somewhat of a sleepy sector for a long time. 

• Now, Zomato is looking to shake things up in this space as it is in talks to acquire Paytm’s movie ticketing and events arm

Analysts and industry executives say Zomato could spruce up the movie ticketing and events business by:

• Creating an integrated loyalty programme between food and entertainment as both are discretionary spends

• Finding innovative ways to cross-sell its food arm’s offerings in movie theatres and at live events 

• Enabling more frequent and better discovery of entertainment options on the Zomato app

“It is not a diagnostics lab that Zomato is acquiring… It is trying to get a bigger wallet share of the user’s lifestyle spends which is an area the company already plays in,” said Sreedhar Prasad, a former Partner at venture capital firm Kalaari.

It is no secret that the high-growth phase of food delivery has run its course. That’s why Zomato and Swiggy are focussing on new segments like the quick commerce business.

• Analysts say making a bold bet on movie ticketing and events could help Zomato drive up its revenue growth in the long-term

• However, estimates indicate that acquiring Paytm Insider will only add about 2.5 percentage points of revenue to Zomato’s financials to begin with

Also Read: PVR Inox now also a food giant as popcorn, Pepsi sales rate outpace box-office biz

Go deeper

Paytm's 2024 has been a rollercoaster. 

Since February, the fintech firm has faced challenges following sanctions by the Reserve Bank of India (RBI) on its associate company, Paytm Payments Bank.

• But there have been flickers of hope recently, with a slight recovery in key metrics

After months of decline, Paytm's transactions and value processed through UPI showed a marginal increase in May.

• The company's GMV through UPI also bounced back from March lows

While the number of active users dipped in April and May, merchant subscriptions and transactions held steady.

While the company's share price has shown some recovery, it's far from pre-sanction levels. 

• Paytm is also facing increased competition and shrinking payment margins

Its financial services revenue might take even longer to bounce back as the company shifts towards a distribution-only lending model.

Go deeper 

Gone are the days of static marketing campaigns. 

• Generative artificial intelligence (Gen AI) is poised to transform the way we experience brands entirely

Satish HC, co-head of delivery at Infosys, told us in an interview that industries like telecom, automotive, and banking will drive maximum value for its newly launched Gen AI-enabled marketing suite Aster.

• On June 18, the Bengaluru-based company launched Aster to boost marketing initiatives by brands

The multi-industry suite encompasses over 100 partners in the marketing value chain.

Infosys is already using Aster within the organisation, to accelerate brand recall, customer engagement, and boost growth. 

• The company estimates the total addressable market for AI-powered marketing solutions to be a staggering $150-160 billion
  
  
• By 2026, advanced marketing solutions are expected to surpass a market value of $350 billion

Unlike traditional marketing methods, Aster automates campaign execution, ensuring a consistent flow of content. 

• For instance, Aster helped a major automotive manufacturer streamline its fragmented commerce platform, leading to a 50% increase in orders

Dig deeper

A day after Ixigo made its market debut, founder Aloke Bajpai visited the Siddhivinayak temple to thank the almighty for guiding them through the intense IPO process.

The company, which made another attempt at launching an IPO but backed out in June 2023 due to a choppy market, received a stellar response from investors this time around.

"We have had our share of rejection. We have been doubted, rejected, misunderstood, written off by several people but we never gave up the belief in ourselves, that is the only thing that has brought us here," Bajpai told us in an interview.

An overwhelmed Bajpai is now focusing on returning to work to explore more opportunities in the travel space.

Read the full interview

• Hewlett Packard Enterprise and Nvidia announced the launch of Nvidia AI Computing by HPE, a portfolio of co-developed AI solutions and joint go-to-market integrations that enable enterprises to accelerate the adoption of Generative AI. 
  
  
• HCLTech said it has collaborated with Tecnotree, a Finnish software company catering to telcos, to co-develop advanced 5G-led generative AI solutions for the global telecom industry.

Want a dose of real-life inspiration that'll have you shouting "Yes, I can!"?  Then buckle up for the Women in Tech Podcast!

• Hosted by Espree Devora, this show isn't your average tech talk 

It's a deep dive into the journeys of incredible women – engineers, founders, investors, the whole inspiring crew – who are forging their own paths in the ever-evolving world of tech. 

Check it out on Spotify or Apple Podcasts

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