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Indian quick-commerce Zepto zooms to $1.2B in annualized sales, Goldman says
TechCrunch
·
1y ago
Medial
Indian quick-commerce startup Zepto has achieved over $1 billion in annualized sales in just 29 months since its launch. The company has also gained significant market share, nearing that of the second-largest player in the market. Zepto offers 10-minute delivery of various items such as groceries and electronics. The startup anticipates substantial growth in its gross order value, with the potential to expand into 40-50 cities in the future. Zepto is backed by investors including YC Continuity, StepStone Group, and Glade Brook Capital.
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Right now is not the time to slow down: Zepto co-founder, CEO Aadit Palicha
Livemint
·
8m ago
Medial
Zepto, an Indian quick commerce startup, is on the path to achieving annualized sales of $3 billion. The company's dark stores, which offer fast deliveries, are becoming profitable faster as it expands into new categories with higher average order values. Zepto recently raised $350 million in funding, the largest domestic fundraising round in India's startup ecosystem. The company aims to continue aggressive expansion and plans to launch around 100 dark stores every quarter. Zepto is also exploring new categories such as pharmacy and expanding its Zepto Cafe business.
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Zepto becomes first unicorn of India in 2023
Livemint
·
1y ago
Medial
Zepto, an Indian quick commerce startup, raised a substantial amount in funding led by StepStone Group, marking the firm's first direct investment in an Indian company. Goodwater Capital also joined as a new investor. Zepto's existing investors, including Nexus Venture Partners, Glade Brook Capital, and more, also increased their investments. Zepto, which delivers groceries in 10 minutes, plans to go public in the next two to three years. Despite the challenging capital market conditions, Zepto has displayed strong operational discipline, turning the majority of its dark stores EBITDA positive and reducing burn. The company has achieved 300% YoY sales growth and aims to achieve $1 billion in annualized sales soon.
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Zepto Cafe crosses 100,000 orders per day mark, says CEO Aadit Palicha
Economic Times
·
5m ago
Medial
Zepto's quick commerce platform, Zepto Café, has surpassed 100,000 orders daily, nearing a $100 million annualized GMV with a 50% steady-state gross margin, according to CEO Aadit Palicha. Since its launch in December 2024, Zepto Café has expanded rapidly, opening over 100 new cafés monthly. The move highlights a competitive surge in the 10-minute food delivery space, with rivals like Blinkit and Swiggy scaling similar services to meet growing demand.
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Zepto crosses Rs 1,000 Cr in annualised advertising revenue: CEO Palicha
YourStory
·
8m ago
Medial
Zepto, a quick commerce unicorn, has achieved annualized advertising revenue of over Rs 1,000 crore, averaging Rs 83 crore per month. Zepto recently launched Jarvis, an in-house advertising service that has already delivered billions of ad impressions and generated 4% of advertising income as a percentage of sales. The company is focused on diversifying its revenue streams to include advertising, loyalty programs, and private labels. In a recent funding round, Zepto raised $350 million, bringing its total fundraisers for the year to $1.35 billion.
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Quick commerce growth cannibalising other retail channels, says Kearney report
Economic Times
·
1m ago
Medial
A Kearney report reveals that quick commerce platforms, like Zepto, Blinkit, and Instamart, are experiencing growth but mostly by cannibalizing sales from modern trade and e-commerce rather than generating new demand. Only 6-8% of sales are incremental. Despite steep discounts from supermarkets, quick commerce is popular due to convenience. It accounts for 3-6% of sales for many consumer goods, though its growth varies by product category, with groceries seeing the highest adoption.
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Zepto, Blinkit adding fashion, electronics, beauty and more
Economic Times
·
1y ago
Medial
Zomato-owned Blinkit and Mumbai-based Zepto are expanding their quick commerce platforms to include categories like fashion, beauty, electronics, toys, and home and kitchen products. Zepto, the first unicorn of 2023, has reached $1 billion in annualized gross sales. Both platforms will add thousands of new products and strengthen their logistics networks to facilitate faster delivery. The move into fashion is still in its early stages, but the platforms aim to become go-to destinations for shoppers, particularly in cases where clothes and garments are needed quickly. These expansions will significantly impact established e-commerce rivals like Flipkart and Amazon, as well as local kirana stores.
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Zepto IPO: Delivery startup picks Axis Capital, Goldman Sachs, Morgan Stanley as advisors, says report | Mint
Livemint
·
11m ago
Medial
Delivery startup Zepto has chosen Axis Capital, Goldman Sachs, and Morgan Stanley to be advisors for its upcoming initial public offering (IPO) in FY25. The IPO is scheduled for August 2025, with Zepto looking to raise $450-500 million through the listing. The company would need to shift its base back to India from Singapore in order to list in the country. Zepto recently raised $340 million in follow-on financing, bringing its valuation to $5 billion. The quick-commerce market in India grew significantly in 2023, reaching a gross merchandise value (GMV) of $2.8 billion.
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Blinkit won’t cede quick commerce market leadership under any circumstance, says Albinder Dhindsa - The Economic Times
Economic Times
·
18d ago
Medial
Blinkit CEO Albinder Dhindsa emphasized maintaining market leadership in the competitive quick commerce sector. Despite intense competition, Blinkit's gross order value surged 140% year-on-year to Rs 11,821 crore, with a $5.5 billion annualized run rate. The company, competing with firms like Zepto and Swiggy Instamart, reported Rs 162 crore in adjusted operating losses but stabilized near-term margins. Dhindsa remains confident about long-term profitability amid fluctuating competition dynamics and mature dark store developments.
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Flipkart challenges quick commerce space with new delivery venture, says report
Livemint
·
1y ago
Medial
Indian e-commerce giant, Flipkart, is planning to enter the quick-commerce sector by establishing a network of dark stores in cities like Bengaluru, Delhi, and Hyderabad. The company aims to offer 10-15 minute deliveries in a dozen cities within the next six to eight weeks. Flipkart will focus on fast-moving consumer goods, groceries, daily essentials, electronics, and fashion, setting itself apart from existing players like Blinkit, Swiggy Instamart, and Zepto. The quick-commerce market is growing in India, with a total addressable market value of $45 billion. Consolidation in the market is expected, and quick-commerce is anticipated to surpass traditional e-commerce.
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Zepto sets up new marketplace entity amid restructuring
Economic Times
·
7m ago
Medial
Zepto, a quick commerce firm, has launched Zepto Marketplace Private Limited, indicating a shift from its B2B2C model to a marketplace approach. Previously, Zepto licensed its brand and platform to companies managing consumer sales, sourcing inventory from its parent company, Kiranakart. Founded by Aadit Palicha and Kaivalya Vohra, Zepto aims to become a majority Indian-owned entity, aligning with regulatory scrutiny. The company raised $1.4 billion in 2024 and is preparing for an IPO by shifting its domicile to India.
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