In a recent interview with MoneyControl, Zomato's co-founder and CEO Deepinder Goyal revealed the company's ambitious plans to surpass BookMyShow and take the number one spot in the events and ticketing industry.
With the acquisition of Paytm Insider in August, Zomato has set the stage for its journey towards market domination.
The interview
"We were the number three player in the game (events and ticketing) earlier. Now, we become number two (behind BookMyShow). We’ll gun to be number one at some point and hope that Swiggy doesn’t buy BookMyShow,” Goyal shared.
The rivalry between Zomato and BookMyShow is set to intensify as Zomato aims to secure the top spot.
Goyal stressed the importance of upgrading the overall experience of attending events and concerts.
“I don't know why, but everything in the events and concert ticketing business is taking off for some reason nowadays, which is something we can add on to. It was always boring here in India but we can make it fun,” the CEO remarked.
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Zomato's financial scene
With a substantial cash reserve of over Rs 12,500 crore (($1.5 billion), Zomato has the financial muscle to fuel its expansion plans. The company's robust financial position enables it to make strategic investments and undertake ambitious projects without constraints.
Goyal talked about Zomato's growing portfolio of business arms, which now includes the acquisition of Paytm Insider.
Zomato's going-out business has shown impressive growth, with a gross order value of Rs 3,225 crore in FY24.
The company expects this figure to surpass Rs 10,000 crore by the end of FY26, signaling a bright future for its events and ticketing segment.
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