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News on Medial
Zepto FDI laws compliant, aims to be majority India-owned: Aadit Palicha
Economic Times
·
8m ago
Medial
Indian quick-commerce firm Zepto has raised $350 million in new funding, with the aim of becoming a majority-owned Indian company. CEO Aadit Palicha stressed that Zepto is not out to compete with traditional kirana stores and mom-and-pop shops, but rather aims to be a "net-job creator" and a valuable part of India's consumption story. Zepto has experienced rapid growth fueled by cash burn, but Palicha believes that profitability will be achieved as more dark stores become profitable. The company also dismissed allegations of predatory pricing and emphasized its compliance with Indian regulations.
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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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After Pai, Zepto’s Aadit Palicha Reacts to Minister Goyal’s ‘Dukaandari’ Remark
OutlookIndia
·
4m ago
Medial
Zepto CEO Aadit Palicha responded to Minister Piyush Goyal's criticism of Indian startups, especially those focused on consumer internet ventures like online food delivery. Goyal contrasted these with Chinese startups' focus on sectors like AI and EVs. Palicha highlighted Zepto's contributions, mentioning that it employs 150,000 people, pays significant taxes, and has attracted substantial FDI. He emphasized the need for India to develop major internet companies to drive technological innovation and economic growth.
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Zepto founders tap Edelweiss, others for Rs 1,500 crore structured debt to boost Indian ownership
Internet
·
3m ago
Medial
Zepto's founders, Aadit Palicha and Kaivalya Vohra, are negotiating a Rs 1,500 crore structured debt deal with Edelweiss and others to boost Indian ownership before an IPO. The funds will acquire shares from foreign investors, raising domestic ownership to over 30%. This move aligns with FDI regulations and enhances IPO eligibility. A $250 million secondary transaction is also underway. Zepto aims for profitability while reduci...
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2 college dropouts with ₹30,000-cr startup only possible in India: Zepto CEO
Inshorts
·
1y ago
Medial
Zepto CEO Aadit Palicha posted on X, "2 kids dropping out of college and starting a company worth ₹30,000 crore in just 3 years is only possible in one country in 2024: India." His post came after Zepto raised $665 million at a $3.6 billion valuation. Stanford dropouts Aadit Palicha and Kaivalya Vohra started Zepto at the age of 19.
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Zepto CEO optimistic about IPO in 2025; says claims of quick comm hurting Kiranas not data-backed
Economic Times
·
8m ago
Medial
Zepto, a quick commerce company in India, has secured $350 million in funding and aims to become a fully Indian-owned entity. The co-founder and CEO, Aadit Palicha, expressed optimism about an IPO in 2025. Palicha defended the quick commerce model against allegations of disrupting traditional kirana stores, arguing that it has created jobs and provided value to consumers and workers. Zepto plans to expand to over 50 cities and expects to reach a billion dollars in top-line revenue soon. The company is targeting profitability in the next financial year and is seeing success with Zepto Cafe. Palicha also welcomed competition, stating that the market has plenty of room for everyone.
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Zepto to become profitable in FY26, hopeful for IPO plans next year: CEO Aadit Palicha | Company Business News
Livemint
·
8m ago
Medial
Indian quick commerce major Zepto is set to become a fully Indian-owned company and achieve profitability in the next fiscal year after securing $350 million in funding from domestic investors. The company's co-founder and CEO, Aadit Palicha, also expressed optimism about a potential IPO in 2025. Palicha refuted claims that the quick commerce model is hindering the growth of traditional kirana stores, highlighting the positive impact of job creation and value for consumers. Zepto aims to expand to over 50 cities and expects to reach a revenue milestone soon. The company is on track to achieve profitability within the next financial year.
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Zepto Cafe crosses 50,000 orders per day within 4 weeks: Aadit Palicha
Economic Times
·
7m ago
Medial
Zepto's 10-minute food delivery app, Zepto Cafe, achieved over 50,000 daily orders within four weeks of its launch, marking a 60% month-on-month growth, according to CEO Aadit Palicha. Initially starting with 30,000 orders per day, Zepto Cafe's rapid growth suggests it is gaining strong traction in the quick commerce market. Competitors like Zomato-owned Blinkit and Swiggy have recently launched similar 10-minute food delivery services.
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We started Zepto with a WhatsApp group: CEO Aadit Palicha
Inshorts
·
9m ago
Medial
Zepto, the $5-billion quick commerce company, was started with a WhatsApp group, Co-founder and CEO Aadit Palicha revealed. He said that they spoke to customers and made tweaks to the company's model for a year before building the first version of Zepto. After Zepto reached a "meaningful scale", Palicha and Co-founder Kaivalya Vohra decided to drop out of Stanford University.
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Zomato vs Zepto: Aadit Palicha Hits Back at Deepinder Goyal Over Rs 5,000 Cash Burn Claim
OutlookIndia
·
5m ago
Medial
Zepto founder Aadit Palicha responded to Zomato CEO Deepinder Goyal's claim that the quick commerce sector incurs a cash burn of Rs 5,000 crore per quarter, attributing over half to Zepto. Palicha refuted this, asserting the claim as 'verifiably untrue' and pointing to Zepto's financial reports. While acknowledging Goyal's role in inspiring the Indian start-up ecosystem, Palicha emphasized their shared goal of fostering growth in good faith.
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Zepto team works 80-100 hours a week: CEO Aadit Palicha
Inshorts
·
9m ago
Medial
Speaking at NDTV World Summit 2024, Zepto CEO Aadit Palicha said that the team works 80 to 100 hours a week. "We could have probably worked half of that with a lot less stress and still be doing fairly well," the 22-year-old added. Palicha said the team is genuinely excited about what they are building and isn't motivated by money.
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