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News on Medial
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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Related News
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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Our name is shortest unit of measurable time in physics: Zepto CEO
YouTube
·
1y ago
Medial
Aadit Palicha, the CEO and Co-founder of Zepto, provided insight into the significance of the name chosen for their hyper-local grocery delivery startup. He elucidated, "Why Zepto? Zepto represents the briefest unit of measurable time in the field of Physics, denoting 10 to the power of -21 seconds." Palicha emphasized that this choice of name was made because it symbolizes the startup's rapid pace, which aligns with one of its key value propositions.
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Zepto is currently where Amazon was in 1990s: Co-founder Palicha
Inshorts
·
12m ago
Medial
Zepto is currently in a position similar to where Amazon was in the late 1990s and early 2000s and may hit a valuation of $50-$80 billion, CEO and Co-founder Aadit Palicha said at Moneycontrol Startup Conclave 2024. "It's largely just execution so it's not guaranteed. There were...companies in the past who could've done that but couldn't execute it," Palicha said.
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People double my age report to me: Zepto's 22-year-old CEO Palicha
Inshorts
·
9m ago
Medial
Zepto CEO Aadit Palicha, who is 22 years-old, said people who report to him are almost double his age. "It has taken time, but we have proven our ability to add value to the time," he said at the NDTV World Summit. "The team now has conviction that Aadit has some idea of what he is doing," he added.
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$1.4-bn valuation isn't a meaningful long-term metric: Zepto CEO
YouTube
·
1y ago
Medial
The recent $1.4 billion valuation attained by Zepto, becoming the first unicorn of 2023, holds little significance as a long-term measure, according to Aadit Palicha, Co-founder and CEO. While acknowledging the positive feeling, Palicha stressed that the valuation's true importance lies in its trajectory in 2033. He emphasized that their focus is on the work ahead rather than getting caught up in the vanity of achieving unicorn status.
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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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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 triples annualised GOV to $3B in eight months ahead of IPO
YourStory
·
6m ago
Medial
Zepto, a quick commerce unicorn, has tripled its annualised gross order value to $3 billion in eight months, with revenue for FY24 doubling to Rs 4,454 crore. Co-founder and CEO Aadit Palicha credits this to the team's discipline and execution, with plans for profitability soon. Founded in July 2021, Zepto competes with firms like Swiggy Instamart and Blinkit. Preparing for an IPO, it aims to raise over $500 million while enhancing domestic shareholding.
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Zepto CEO Aadit responds to viral post about his company's 'toxic work culture'
Inshorts
·
8m ago
Medial
Zepto CEO Aadit Palicha responded to the viral Reddit post by an employee about Zepto's alleged "toxic work culture". "I have nothing against work-life balance. In fact, I recommend it to all our competitors...FYI, not my quote - read it from an interview of Daksh Gupta," Aadit posted on X. Notably, Greptile's CEO Daksh Gupta has defended 84-hour work week.
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