Paytm has acquired a majority stake in Insider.in, India’s leading ticketing platform for events and properties, including NH7 Weekender, EDC and The Grub Fest. This will enable hundreds of millions of Paytm customers discover a wide selection of events and book instantly.
India’s organized events industry is currently at Rs. 4,000 Cr, with organized sporting leagues and events accounting for the largest portion of ticket sales. Online ticketing accounts for a mere 10% of the overall volume, since customers face hurdles in the form of limited event discovery. After establishing the country’s fastest growing online movie ticketing service spanning 3500 screens across 550 cities, Paytm has been expanding into the events ticketing and discovery, helping customers discover events on its platform.
Madhur Deora, Chief Financial Officer and SVP, Paytm said, "Events discovery and ticket booking is a challenge for customers and organizers alike. We are excited to partner with Insider to help our users discover and book tickets. We believe that digital discovery and events marketing expertise will increase 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.”
OML Founder Vijay Nair said, "From the first meeting with Vijay Shekhar and Madhur, we realized 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."
Shreyas Srinivasan, Founder-CEO, Insider.in said, “We are excited to partner with Paytm and build India’s largest community of event goers. 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 organizers that enables them to conceptualize, market and execute their events more efficiently. Our partnership with Paytm will enable us to reach more organizers and event goers, and exponentially grow this ecosystem in India.”