Paytm acquires Alibaba-backed TicketNew for $40 million
Digital payments startup Paytm has acquired Chennai-based ticketing startup TicketNew for a reported amount of  $40 million. Commenting on the development, Paytm said that TicketNew founders share the same partnership mindset as Paytm. Founded in 2007, the ticketing platform's majority stake was acquired by Alibaba Pictures last year, a Chinese film company under the Alibaba Group.