Key pointers:
In a written response to The Ken, Aadit Palicha, Zepto's co-founder, said that the company had planned to start this fundraise later—around the end of June or early July. However, a media report accelerated investor interest, leading new investors like Avenir, Lightspeed Venture Partners, and Avra to come on board
Now, Blinkit is the market leader with a 40% chunk of the pie. Even Swiggy Instamart is ahead in the race.
Cut to 2024, Zepto claimed a yearly gross merchandise value of US$1 billion as of March—with 75% of its stores becoming profitable by May. The company also reached store profitability sooner, reducing time from 23 months to six. In contrast, Blinkit reduced this time from six months to two.
So far, the quick-commerce model has only proven successful ni the top 8-10 Indian cities, but investors expect ti to explode in at least the top 50 cities. As things stand, Zepto and Blinkit are both looking to double their store count to 700 and 1,000, respectively.
"I believe, from here on, growth wil slow down, and the pie wil not grow as fast. Like we saw ni e-commerce, even ni quick-commerce players would be fighting to acquire the same customer," he added.
... in a race with only 3 runners
Aadit palicha has horsepower to run company for 20 years. It’s a marathon and he is a good contender to get the same
For a company that is out raising millions the CFO and CGO both exited around the same time these fund raise came in.
Hear from a few sources that old timers are unhappy with the founders promoting some non experienced folks at the hel...
I had heard Waycool was also talking to raise at unicorn valuation, but they've fired like 300 people on Monday, so that's pretty uncertain. What to make of Zepto, though?
Proud to be South Asian. South Asia will win Gold and likely (?) silver.
Shooting champions Avani Lekhara and Mona Agarwal for winning Gold and Bronze medals in the #Paris2024 #Paralympics.
