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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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Related News
How much money has Zepto, founded by two dropouts at age 19, raised so far?
Inshorts
·
1y ago
Medial
Quick commerce startup Zepto, founded by Stanford dropouts Aadit Palicha and Kaivalya Vohra at age 19, raised $60 million in October 2021. Later in December 2021, it raised $100 million in Series C, followed by $200 million in May 2022. Zepto became a unicorn in 2023 after raising $235 million. It has now raised $665 million at $3.6 billion valuation.
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TSMC Explores UAE Chip Fab as 2nm Wafer Prices Hit $30,000; U.S. Fab Fully Booked by Apple, AMD; Samsung Texas Fab Faces Delays | DeepNewz Economics
Business Bytes
·
1m ago
Medial
TSMC's 2 nm wafer foundry price has increased to $30,000 per wafer, with future Å-class processes potentially reaching $45,000, indicating that only top-tier customers will likely afford them.
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Bihar man, failed in 2 startups, finds success with matrimony app
Inshorts
·
7m ago
Medial
Hailing from Darbhanga, Bihar, Hammad Rahman, during college launched two startups Hostel Needs and Quick Man Services but failed. Learning from his failures, he invested ₹30,000 in 2018 to launch Nikah Forever, a matrimonial platform. Today, with a team of 135 the startup has helped in matchmaking in 55,000 marriages, redefining matchmaking for the community.
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Zepto Cafe crosses 50,000 orders per day within 4 weeks: Aadit Palicha
Economic Times
·
6m 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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Zepto’s FY24 Revenue More Than Doubles To INR 4,454 Cr
Inc42
·
6m ago
Medial
Zepto, a quick-commerce platform, saw a significant increase in operating revenue by 120% in the past year, reaching INR 2,025.70 Cr. However, the net loss for the company decreased slightly by 2% to INR 1,248.64 Cr. Zepto's CEO, Aadit Palicha, expressed optimism for continued growth and expects to achieve profitability in the near future.
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Top line can grow to Rs 2.5 lakh Cr in 5-10 yrs if we execute well: Zepto CEO
YourStory
·
1y ago
Medial
Quick commerce startup, Zepto, aims to grow its revenue to Rs 2.5 lakh crore in the next 5-10 years if successful in executing its business plans. The company's CEO, Aadit Palicha, highlighted the importance of the grocery and household essentials market in India, stating that it is larger than all other categories served by leading ecommerce platforms Flipkart and Amazon combined. Zepto's revenue has already grown over five-fold to Rs 10,000 crore in FY24, and the company recently raised $665 million in funding. Zepto plans to expand its warehouses and increase its market share in the quick ecommerce sector.
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Started with ₹30000, Odisha founder built a ₹10 cr edtech venture
Inshorts
·
2m ago
Medial
To upskill Indians, an Odisha entrepreneur quit a ₹7–8 LPA job to start Skyy Skill Academy in 2018 with ₹30,000. The edtech has trained 2 lakh+ students via various modes, placed 800+ in jobs, and generated ₹10 crore in revenue. Now aims for ₹25 crore by 2025, plans for COEs and a Skill University.
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Zepto charges more to users with phones costing above ₹30,000: Employee
Inshorts
·
7m ago
Medial
A person claiming to be a Zepto employee posted on Reddit, "There are a lot of dark patterns in the app to extract money from customers, including charging more for customers with phones more than ₹30,000." The employee added, "Customer data is profiled and security is really bad." The employee also said Zepto has the "most toxic work culture".
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Quick-commerce orders double to Rs 64,000 cr in FY25, to touch Rs 2 lakh cr by FY28: Report
Economic Times
·
6d ago
Medial
India's quick-commerce sector, featuring platforms like Blinkit and Instamart, saw a surge in order value, reaching Rs 64,000 crore in FY25, more than doubling from Rs 30,000 crore the previous year, as per Careedge Ratings. The gross order value is projected to triple by FY28, hitting Rs 2 lakh crore. Platforms earned Rs 10,500 crore in fees, expected to rise to Rs 34,500 crore by FY28, with strategies shifting towards profitability and efficiency.
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Quick commerce sector burning Rs 5,000 crore per quarter: Zomato CEO Deepinder Goyal
Economic Times
·
4m ago
Medial
The quick commerce sector in India burns approximately Rs 5,000 crore quarterly, with Blinkit, owned by Zomato, responsible for 2-3%. Despite this, Blinkit holds a 40-45% market share. CEO Deepinder Goyal emphasizes sustainable growth without engaging in deep discounting. Zepto, a major competitor, is burning significantly more cash but still maintains a competitive position. The market is experiencing intense competition impacting Blinkit's financials, with challenges in expanding operations.
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