Zepto

Zepto slightly cuts losses to Rs 1248.6 cr, revenue doubles in FY24

Quick commerce firm Zepto has marginally brought down its losses to Rs 1,248.6 crore in 2023-24 from Rs 1,272.4 crore in 202223 , as per data shared by Tofler. The Mumbai-based firm posted a revenue of Rs 4,454 crore in FY24, more than two-fold increase from Rs 2,025 crore in the previous fiscal. Zepto co-founder Aadit Palicha took to LinkedIn to share the results. "Zepto reduced its absolute losses, with PAT (profit after tax) as a percentage of revenue improving significantly from -63 per cent in FY23 to -28 per cent in FY24," he wrote. Palicha expressed optimism about continuing this momentum towards profitability and said the company is on track for a profit after tax (PAT) in the near future. "Despite being only 3 years old, we were able to successfully close a full statutory audit by a Big 4 firm with no financial qualifications and a clean CARO. This rare achievement for a young startup is the outcome of a governance-focused culture at Zepto and early decision-making that

Race for instant food heats up: Blinkit launches Bistro to rival Zepto Cafe

Blinkit, the quick-commerce grocery subsidiary of Zomato, launched its new app, Bistro, on the Google Play Store a day after Zepto unveiled Zepto Cafe

Zepto Cafe to be launched as separate app next week: CEO Aadit Palicha

Zepto co-founder Aadit Palicha on Wednesday said the quick commerce platform's cafe offering, Zepto Cafe, will be launched as a separate app next week. In a post on social networking platform LinkedIn, the young entrepreneur highlighted the rapid scaling of the cafe service which has motivated the separate offering. "We're launching a separate app for Zepto Cafe next week! The team is shipping an MVP (minimum viable product) and iterating quickly, so it may not be perfect on Day 1, but it's worth it to launch fast :D "Zepto Cafe is scaling rapidly; we're launching 100+ cafes a month and already clocking 30K+ orders/day," Palicha wrote on LinkedIn. Zepto Cafe was launched in April 2022 as a division of Zepto, which itself was founded in July 2021 by Aadit Palicha and Kaivalya Vohra. Last month, Zepto announced the expansion of its cafe service to major cities through more than 120 cafes at stores across Mumbai, Delhi and Bengaluru, and soon in Hyderabad, Chennai, and Pune. "The ..

Zepto's leadership shift: CHRO Gomez exits, Mendiratta takes charge

Zepto's HR head Martin Dinesh Gomez has resigned, following which the company has reoriented the function as Chief Culture Officer and named Chandan Mendiratta for the post. Gomez has put in his papers in September and is serving his notice period in the firm, a company spokesperson told PTI. Mendiratta, Chief Brand Officer at Zepto, will now take on HR function and operational responsibility as the Chief Culture Officer, the spokesperson said. He will be responsible for employer engagement and branding. The spokesperson denied media reports of company co-founder Aadit Palicha taking over the HR role. Before Zepto, Gomez was associated with Amazon for over 11 years. He has also worked with Sapient, Accenture, Microsoft and Thomson Reuters. The Mumbai-based firm secured USD 350 million in funding in November, which included investments from Indian HNIs, family offices, and leading financial institutions. Earlier this month, Palicha, in an interview with PTI, exuded optimism about

Amazon to enter quick commerce race with 15-min delivery trial in Bengaluru

This initiative marks Amazon's first venture into offering a 15-minute delivery service globally; the initial rollout will include 1,000-2,000 products

Zepto's 2 am meetings? CEO mocks work-life balance amid Reddit claims

Zepto CEO Aadit Palicha mocks work-life balance amid viral Reddit claim of toxic culture, as he responds to backlash over 2 am meetings and long hours in the tech industry

Chai, croissants & samosas: India's snack evolution blends old & new

India's snack scene is evolving rapidly, blending timeless favourites with new flavours. From Mumbai's samosas with garlic bread to Bangalore's adrak chai, it's a remix of traditions

Flush with funds, qcom firms Swiggy, Zepto, Blinkit focus on expansion

While announcing its September quarter results, management at Swiggy said its growth strategy for Instamart is based on hyperlocal expansion

Flipkart's 10-minute medicine delivery to shake up online pharmacy market

Flipkart to launch 10-minute medicine delivery under its 'Flipkart Minutes' service, partnering with local chemists to tap into quick commerce and expand its online pharmacy footprint

Zepto CEO sees clear path to IPO in 2025 with profitability in focus

Fresh out of bumper USD 350 million funding this time from marquee domestic investors, quick commerce company Zepto says it is on a clear path to becoming a full Indian-owned entity and hitting PAT positive milestone, as co-founder and CEO Aadit Palicha exudes optimism about a possible IPO in 2025. In an interview with PTI, Palicha strongly countered allegations about the quick commerce model disrupting and stunting the growth of traditional kirana stores. He asserted that these and other "narratives" are not grounded in real data and underrate the "net positives" achieved so far by the industry, including job creation. Palicha further said that instant 10-minute delivery models like that of Zepto have generated lakhs of jobs, been wage-additive, and created all-around "value" for both consumers and workers. Moreover, the quick commerce model executed at a scale for groceries and items of daily use is unseen, unmatched globally, he said adding that this goes to showcase the unique .

Digitek Drives Domestic Growth: New Alliances with Zepto Highlight Strategic Market Push

.

Swiggy Instamart wins quick commerce race with 8-minute delivery: JPMorgan

Swiggy Instamart surpassed its 6-minute delivery promise, achieving a median delivery time of just 8 minutes across the top four Indian cities, the fastest among its peers

Amazon India advances qcom venture 'Tez' launch, likely by late Dec

Amazon had planned to introduce the service in the first quarter of 2025, but the timeline has reportedly been expedited with the launch scheduled for this year-end or early 2025

Dark stores turning profitable rapidly, says Zepto CEO Aadit Palicha

He says that the current fund raise was one of the largest ever raise from domestic investors

Quick commerce major Zepto is India's most funded startup in 3 years

IPO-bound company has raised $1.35 billion in 2024

Zepto raises $350 million at flat $5 billion valuation ahead of IPO

Indian HNIs, family offices, and leading financial institutions took part in latest funding round

Zepto expands cafe service to major cities; eyes Rs 1k cr revenue run-rate

Quick commerce platform Zepto on Monday said announced the rollout of its cafe service in major cities and said it targets a revenue run-rate of Rs 1,000 crore by 2026. It will serve through over 120 Cafes at stores across Mumbai, Delhi, Bengaluru, and soon in Hyderabad, Chennai, and Pune, a company statement said. "We have cracked 10-minute delivery with high-quality food preparation processes, which is why we are seeing strong customer love. Over the past year, our team has meticulously researched and sourced state-of-the-art equipment for our cafes, including coffee machines that employ handcrafted brewing techniques," Zepto CEO Aadit Palicha said. Serving the concept of a quick meal for today's fast-paced urban lifestyle, the online cafe features a diverse menu with over 148 items, including freshly brewed chai, coffee, all-day breakfast, pastries, and savoury snacks, promising a 10-minute delivery service, it added. Zepto Cafe was launched in April 2022 as a division of Zepto,

Zepto to raise $300 mn, doubling initial target amid quick commerce battle

The funding round, oversubscribed by prominent investors, will include top Indian family offices and ultra-high net worth individuals

Quick commerce boom: Industry giants race to claim their slice of the pie

India's quick commerce sector has seen an astonishing growth rate, with sales increasing by more than 280 per cent over the past two years

BigBasket, Blinkit, Swiggy deliver gold, silver in 10 min this Dhanteras

Dhanteras 2024: Quick commerce platforms are offering 10-min delivery of gold from major jewellers including Tanishq and Malabar amid the festive rush