Zepto becomes India's 1st 2023 unicorn
The timing of Zeptos fundraise is significant given the slump in investments into growth- and late-stage startups on the one hand and the co...
https://m.economictimes.com/tech/funding/unicorn-drought-ends-as-zepto-raises-200-million-at-1-4-billion-valuation-from-stepstone-goodwater/articleshow/103053527.cms
Everything kept aside, it’s genuinely awe-inspiring that they’ve been able to do this in a market with close to zero interest in consumer internet plays, and most models failing
There’s definitely something about the way they executed. And many good things are said within the ecosystem about Aadit as a founder!
Bot_God
Stealth
a year ago
How is that doing from inside?
Anyone from Zepto or competitive firms?
+1
Does anybody know how they are doing as a company and culture?
Worth joining?
They are in the process of revamping the entire leadership team with focus on getting good folks from established set ups... culture is decent though hectic...they also want to build huge ads business because that's their only way of becoming profitable
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Ravan
Stealth
a year ago
So as soon as they raised $200M , saare paap dhul gaye. Even Viners are going gaga about them. No doubt India celebrates funding more than unit economics and real metrics. It is a sense of déjà vu with similar reactions to the likes of BYJUs and others in the past.
They may eventually get there. This is how all marketplace businesses need to grow initially.
But for now I just love that they deliver to my house in 6 minutes :)
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aanhserk
Stealth
a year ago
Bigbasket is still unprofitable after 12 years of operation. And BBNow does something very similar to zepto. Swiggy/Blinkit can also do the same. All 3 are with deep pockets (Tata) or backed by companies that created food delivery category.
I want to root for the small guy but can only see them acquired by one of the 3 - Mostly Bigbasket.
donna
Stealth
a year ago
Any insider information on Aadit? He is very low-key unlike other founders in the ecosystem and he genuinely looks like a visionary founder.
https://www.google.com/amp/s/inc42.com/features/inside-zeptos-secret-equity-battle-feuding-teenagers-alleged-threats-the-nexus-connection/amp/
donna
Stealth
a year ago
I’ve read this
BrownRabbi47
Stealth
a year ago
A great day for the Indian startup ecosystem! If we keep the unit economics aside, and zoom out from a perspective of scale, the founders have dared to build a high operation-driven consumer internet business in Indian price-sensitive market, one of the most difficult business to build. Customers are very happy with it, let me know if anyone prefers BigBasket over Zepto. There are many advantages that you have when you're building at such tremendous scale, investors know about it very well. Here are few fronts they could be planning to monetize on, given their scale
1. Ads (obviously)
2. Data to third party services like ONDC enablers of cataloguing
3. Plug their under-utilized logistic arm of fleets to ONDC (which they might have already done probably, and can potentially leverage high margins here, similar to Dunzo)
4. Leveraging their data for inventory intelligence, that's gonna be huge in the future with digitization of local sellers and distributors
Hyper-local businesses are tough, but come with plenty of overlooked advantages, when we're evaluating it as a customer. Highly optimistic about the Indian startup ecosystem and the unimaginable strategy pull-offs by hardcore execution of Indian founders! 🇮🇳
We're building a lot of sustainable profitable businesses anyway and that's not talked about, let's not discourage the founders going down the difficult paths of risky and seemingly difficult large scale businesses. Everyone said we don't need 10 min delivery of groceries, we can wait. Now, after Zepto, tell me if you'd wait for an hour to get your fruits and munchies delivered?
Paperbackdreams
Student
a year ago
I think most of the folks can wait for an hour 🤷
donna
Stealth
a year ago
I can’t when I realise I’m out of groceries and it’s 9PM already.
I smell a scam. This whole quick commerce thing is a money sink and the whole zepto founders just being figureheads with it being run by the family.
Personally I see them blowing up worse than Dunzo down 2 years the line.
I see the business thriving only in tier 1 cities, and that too only when they increase their margins. I have seen many people who are OK to pay INR 30 delivery charge for an order value of INR 200.
Zepto has some deep links right? There was a whole story about the other Co-founder?
DonQuixote
Stealth
a year ago
Last I heard, product team was abandoning the ship .
It is suprising that even after so many issues, they have become an unicorn.
Dinosaur89
Stealth
a year ago
Honestly, I'm surprised with the ocean of praises for Zepto here.
Nothing against the Founders and folks working there, but the business model is not sustainable.
Commendable they could raise this round in this environment but at what costs and what promises were made?
I think only time will tell.
Means fuckall to me specially after this last bout of overinflated valuations, which caused this massive bubble and the funding winter btw. Profitability is nowhere to be seen. It seems only the VC money is keeping the lights on.
Yes, all startups start this way but there should be a road map. But no one seems to care and are awed by these vanity metrics.
Badbunny
Stealth
a year ago
I have a serious question to ask. Why people don’t get funding for real problem solving things?? Issar jaldi delivery milti h aur kuch hoga ?? Nope.
CircadianRhythm
Stealth
a year ago
Surprising! Im curious to know how did they manage to raise this funding round in this market? Is it because dunzo is dying and they might be better that market share or they genuinely have nailed unit economies of this business.
Itachi777
Stealth
a year ago
Founders have deep connections
CircadianRhythm
Stealth
a year ago
Whats this deep connection that newbies have and other seasoned founders donot have (who are struggling to raise funds)
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I’m curious as to why Zepto is damn adamant not to add a map so we can track the delivery. It’s super annoying to guide a delivery guy to my apartment, while being blind as a bat coz the darn app DOESNT HAVE A MAP.
Habhaithik
Stealth
a year ago
Bade fuddu log h yar gana ga rhe h inka. Iska baap uae ke king ka paisa manage krta h islie they keep raising. Model to shit h everybody knows