India’s Concert Craze: BookMyShow and Zomato

A few weeks back, we questioned whether Zomato had overpaid in its INR 2,048 Cr acquisition of Paytm Insider and its ticketing division. Since then, early signs have surfaced showing why this deal may have been so significant, especially as Zomato sets its sights on competing with BookMyShow.

Zomato recently grabbed attention with the lightning-fast sellout of Diljit Dosanjh’s ‘Dil-luminati Tour – India’ tickets, which were quickly resold on scalping platforms. BookMyShow, Zomato’s key competitor in the ticketing space, faced a similar situation with Coldplay’s ‘Music Of The Spheres World Tour,’ leading to public outrage. Both companies are now dealing with legal issues, as many criticize the lack of transparency in the ticket sales process.

These incidents have shone a spotlight on the online ticketing industry, raising questions about its future. Could this mark a new era for live events in India?

But before diving into that, here’s a roundup of our newsroom’s top stories this month:

1. Swiggy Eyes IPO: With Swiggy preparing for a major IPO, we explore who stands to gain the most and how the equity is distributed.

2. The Fall of WazirX: The $234 million crypto theft from WazirX has exposed severe security vulnerabilities and mismanagement. We take a deep dive into the hack and its implications, particularly for founder Nischal Shetty.

3. Domestic Capital Surge: As Indian startups prepare for a new phase of growth, domestic investment will be crucial. Here's why Indian startups need more local funding.

4. Fast Fashion Revolution: Following the disruption of grocery e-commerce by Blinkit, Zepto, and Instamart, Bengaluru-based Slikk is now aiming to revolutionize the fashion industry with its quick commerce model.