Key Points
- Shreyas Srinivasan, Paytm’s Chief Product Officer, announced his departure after Zomato acquired Insider.in.
- Srinivasan founded Insider.in, a ticketing and events platform, which was bought by Paytm in 2017.
- The deal was valued at INR 2,000 Cr, and Insider.in is now under Zomato’s control.
- Srinivasan said the acquisition was a good moment for him to take a break and pursue new interests.
- Zomato’s going-out business saw a 171% YoY increase in gross order value (GOV) for Q2 FY25.
Looma News
Shreyas Srinivasan, Paytm’s Chief Product Officer and head of consumer products, has announced his exit from the company after Zomato acquired Insider.in. Srinivasan founded Insider.in, a ticketing and events platform, in 2014. Paytm acquired the platform in 2017, and now, Zomato has taken over Insider with a deal valued at INR 2,000 Cr. This marks a big change for Srinivasan, who shared his decision to leave in a LinkedIn post.
In his post, Srinivasan explained that the timing of the acquisition in August gave him the perfect opportunity to step back, recharge, and focus on new passions. “It felt like the right time to take a break, fix the technology debt of my body, and re-discover a passion I can chase for the next two decades,” he wrote. He also thanked his colleagues and bid farewell to both Paytm and Insider with a lighthearted “So long and thanks for all the fish!”
After the acquisition, Insider.in transitioned to Zomato’s control. Zomato’s going-out business grew quickly, with a 171% YoY increase in gross order value (GOV) for Q2 FY25. The GOV reached INR 1,849 Cr in Q2 FY25, up from INR 682 Cr in the same quarter last year. Zomato’s revenue also grew by 214%, reaching INR 154 Cr in Q2 FY25, compared to INR 49 Cr in Q2 FY24.
