| Log in
Vijay Shekhar Sharma, Founder, Paytm Photo Credit: Shah Junaid/VCCircle
TMT

Paytm likely to invest $30 mn in events platform Insider.in

08 May, 2017

Vijay Shekhar Sharma-led mobile wallet firm Paytm is in talks to invest up to $30 million (around Rs 193 crore) for a majority stake in Mumbai-based curated events platform Insider.in, according to a media report.

“Paytm is in discussions with Insider.in as it wants to take on rivals like BookMyShow’s events business,” a report in The Times of India quoted an unnamed person as saying.

“Paytm wants to get a pie of the events business, which is a natural extension given it is already present in the movie-ticketing space. The firm is interested in Insider.in for its youth-oriented base of users,” the report added, citing the person.

Insider.in is operated by OML (Only Much Louder) Entertainment Pvt. Ltd, which behind annual, multi-city music festival Bacardi NH7 Weekender and TV series The Dewarists. It is a curated lifestyle platform that gives users access to select events and products.

Insider.in was founded by Shreyas Srinivasan in August 2014. He joined OML in April 2010 and later launched the company’s digital business. Previously, he co-founded internet radio station RadioVeRVe.

The Alibaba-backed Paytm is expected to get a majority stake in Insider.in and not in its parent company, the report said.

If the deal happens, Insider.in would be one of the largest investments made by Paytm.
Email queries sent to Paytm and Insider.in did not elicit any response till the time of filing this report.

Paytm—which typically invests $5-7 million in startups—recently invested an undisclosed amount in Noida-based health-tech startup QorQL.

In 2015, it led a $10-million funding round in autorickshaw service aggregator and hyperlocal delivery firm Jugnoo.

It has made acquisitions, too. In December 2015, it acquired Gurgaon-based services marketplace Near.in for $2 million.

In the following month, it bought Delhi-based consumer behaviour prediction platform Shifu for $8 million.

In September last year, the firm acqui-hired e-learning marketplace EduKart for an undisclosed amount and, in November, it acquired O2O shopping startup Shopsity.

Like this report? Sign up for our daily newsletter to get our top reports.


Leave Your Comment
Paytm strengthens online ticketing vertical, buys majority stake in Insider.in

Paytm strengthens online ticketing vertical, buys majority stake in Insider.in

Arti Singh 2 months ago
Paytm, run by One 97 Communications Ltd, has acquired a majority stake in Mumbai...
After Little and Nearbuy, Paytm in talks to acquire travel portal Via.com

After Little and Nearbuy, Paytm in talks to acquire travel portal Via.com

Arti Singh 5 days ago
Flush with funds from Japan’s SoftBank, digital wallet and e-commerce company...
Exclusive: Paytm in talks to acquire deal discovery app Little

Exclusive: Paytm in talks to acquire deal discovery app Little

Binu Paul and Manu P Toms 3 weeks ago
Digital wallet Paytm’s parent One97 Communications Ltd is looking to...
No Comments

Paytm likely to invest $30 mn in events platform Insider.in

Powered by WordPress.com VIP