Indian financial technology company Paytm is reportedly discussing the possibility of selling its movie and event ticketing business to food delivery firm, Zomato.
According to Bloomberg, Paytm is considering a potential transfer of its entertainment business, but has not yet secured any binding agreements. The company reportedly made the note in a stock exchange filing over the weekend.
Last month, the company reported its first-ever drop in sales. The move would let Paytm focus on other areas to increase its revenues, including travel, deals and cash backs.
Paytm Insider – the events discovery platform of Paytm – holds a number of ticketing partnerships with cricket teams in the Indian Premier League (IPL).
Zomato would not be the only delivery company to venture into the ticketing industry in India – in May, Kolkata-headquartered multi-vendor delivery app Odroo was named a partial ticketing partner of the IPL for its remaining games leading up to the final on May 26.
TheTicketingBusiness has contacted Paytm for comment.
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