AADIT PALICHA

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• Zepto Cafe crosses 50,000 orders per day within 4 weeks: Aadit Palicha

  Zepto's competitors Zomato-owned Blinkit and Swiggy have also launched their 10-minute food delivery offerings earlier this week.

  

• Zepto sets up new marketplace entity amid restructuring

  Setting up Zepto Marketplace Pvt Ltd is part of the restructuring of the quick commerce firm to align with India's regulatory norms. It signals a potential shift from its B2B2C structure to a marketplace approach, allowing Zepto to oversee procurement and branding while the licensees will handle retail operations and customer interactions.

  

• Zepto FY24 report: revenue more than doubles to Rs 4,454 crore; net loss marginally down

  Zepto's FY24 audited financials reveal 120% revenue growth to Rs 4,454 crore, with losses narrowing to -28% of revenue. The quick commerce platform, audited by a Big 4 firm, aims for near-term profitability and will launch a standalone app for its Cafe service next week, targeting Rs 1,000 crore ARR.

  

• We’re 100% compliant with FDI regulations; aim to be majority India-owned: Zepto’s Aadit Palicha

  Monthly cash burn expected to have topped $35 million, but Zepto's Palicha says company is multiplying on the scale of billions of dollars. Zepto plans an IPO on Indian exchanges, distancing itself from foreign-backed firms. The startup's rapid growth, fueled by $1.4 billion in recent funding, positions it as a key player in India’s $616 billion grocery market, competing with Blinkit and Swiggy Instamart.

  

• Zepto ramping up café business; eyes Rs 1,000 ARR in next financial year

  This comes at a time when Swiggy’s 10-minute food delivery service Bolt is active in key markets of Bengaluru, Hyderabad, Mumbai, Chennai, Delhi, and Pune, and food-delivery startup Swish, which operates several cloud kitchens in Bengaluru's HSR Layout and Bellandur areas, is bringing snacks, beverages, and meals in 10 minutes to customers.

  

• Zepto set to raise $300 million to boost domestic shareholding amid quick commerce battle

  This comes on top of the $1 billion the company has raised over the past few months amid the intensifying quick commerce battle. Post this round, Indian shareholding in Zepto will increase to around 35%, sources told ET.

  

• Passion over profit drives Zepto's $5-billion success: founder Aadit Palicha

  Zepto's success, driven by passion rather than wealth, has resulted in a $5 billion valuation. Co-founder Aadit Palicha emphasizes the excitement behind building a transformative company. Zepto is enhancing its platform with AI to personalize user experiences and improve customer support, aiming to contribute significantly to India's startup ecosystem.

  

• Zepto promotes Devendra Meel to chief business officer

  Zepto has announced the elevation of Devendra Meel to the chief business officer, effective July 2024. Meel will spearhead category management and foster brand partnerships, ensuring optimal assortment, pricing, availability, and growth of all core categories on the platform.

  

• Zepto in talks for $300 million raise at $2.5-3 billion valuation

  Zepto eyes $300 million fundraise for $2.5-3 billion valuation, targeting Ebitda positivity with $1.2 billion sales. Blinkit's GMV surpasses $1 billion; Zomato holds $1.5 billion cash; Swiggy prepares for IPO.

  

• Zepto Pass gets 1 million subscribers within a week of launch

  The membership, which comes at a fee of Rs 99 per month, offers unlimited free deliveries on orders worth more than Rs 99 and discounts of up to 20% based on the order value, ​​ET reported on February 19.

  

• Zepto launches membership programme for all users

  The membership, priced at between Rs 149 and Rs 299 per month for various users, will allow for free deliveries of orders above Rs 99.