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News on Medial
Zepto Pass gets 1 million subscribers within a week of launch
Economic Times
·
1y ago
Medial
Zepto Pass, the membership programme of quick-commerce company Zepto, has achieved one million sign-ups within just one week of its launch. The CEO, Aadit Palicha, expressed excitement about the company's momentum and execution. The membership, available at a monthly fee of Rs 99, offers unlimited free deliveries for orders exceeding Rs 99, as well as discounts of up to 20% based on the order value. Zepto joins Swiggy Instamart as the second quick-commerce firm to offer subscription benefits. Unlike Zomato's Blinkit, Zomato's Gold subscription does not extend benefits to their quick-commerce service.
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Zepto launches membership programme ‘Zepto Pass’ for all users
Thehindubusinessline
·
1y ago
Medial
Quick-commerce company Zepto has launched its membership programme, Zepto Pass, which offers greater discounts to users. For an initial discounted rate of between ₹19 to ₹39, consumers can enjoy unlimited free deliveries and up to 20% off on grocery items. Zepto Pass has already seen rapid adoption during its pilot phase, with a majority of orders coming from subscribers within two weeks. The company aims to drive customer adoption of quick commerce and hopes to attract a million customers to its subscription programme within a month. Zepto recently raised $200 million, valuing it at $1.4 billion.
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Zepto rolls out subscription service, fuels competition in quick commerce market
Livemint
·
1y ago
Medial
Quick commerce firm Zepto has launched its paid subscription service, Zepto Pass, in India. The service offers customers greater discounts and aims to drive adoption of quick commerce. Zepto Pass subscribers showed increased spending on the app and higher monthly retention. The subscription, priced between 19 and 39 rupees per month, offers benefits such as unlimited free deliveries and up to 20% off on grocery items. Zepto hopes to attract a million customers to the subscription programme within a month of its rollout. The company is on track for a public listing in fiscal year 2025-26.
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Zepto Pass crosses 4M subscribers, gained 2M in just last 4 weeks
Twitter
·
1y ago
Medial
Four weeks ago, Zepto Pass celebrated reaching 2 million subscribers, and astonishingly, now boasts 4 million. This incredible growth over the past six weeks has been a pleasant surprise. The company is thankful for the continued opportunity to serve its rapidly expanding customer base, making every day feel like a privilege to have the best job in the world.
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Under wraps: Zepto silently replaces Pass with Rs 1 'Daily' programme
YourStory
·
4m ago
Medial
Zepto is retiring its Zepto Pass subscription service, introducing Zepto Daily instead, which is available by invite in select areas. The new program aims to attract users with a Rs 1 entry fee. While Zepto Pass offered benefits like free delivery and was priced at Rs 299 per month, there's no clarity on the difference between the two services. Zepto recently saw increased user engagement, surpassing competitors in user base metrics, and is focused on improving its margins.
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Zepto's ad revenue, loyalty programme rev up growth as quick commerce booms
Livemint
·
1y ago
Medial
Indian quick commerce platform, Zepto, has seen a surge in advertising revenue as more small and large companies use the platform to promote their products. Zepto's advertising revenue has reached INR400 crore ($54 million) and is predicted to hit INR1,000 crore in the next year. The company's loyalty programme, Zepto Pass, has also experienced significant growth, quadrupling its number of subscribers in just four months. Zepto's revenue for FY23 increased to INR2,078 crore from INR142 crore the previous year, with advertising revenue playing a crucial role in widening margins and diversifying income streams.
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Unicorn startup Zepto launches membership programme ‘Zepto Pass’ for all users
IndianStartupNews
·
1y ago
Medial
Zepto, a quick-commerce unicorn, has introduced a new membership program called Zepto Pass. This program offers unlimited free deliveries and up to 20% discounts on grocery items to enhance the shopping experience for customers. Available at an introductory price of Rs 19 to Rs 39, Zepto Pass aims to attract more users and increase average order value and monthly retention rates. Zepto Pass also extends its benefits to Zepto Cafe, the company's snacks and beverage vertical, in order to cater to a wider range of customer needs.
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Zepto tries "Swap and Save" feature for clearing slow-moving stock
YourStory
·
2m ago
Medial
Zepto is piloting a "Swap and Save" feature, allowing users to substitute cart items with cheaper alternatives. While it may seem counterintuitive to increasing average order values, the feature aims to clear unsold or slow-moving inventory, especially perishables, and offers monetization potential through new seller discounts and promoting private labels. This initiative follows the launch of Atom, a subscription-based data insights tool for consumer brands, replacing the Zepto Pass subscription service with Zepto Daily.
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Meesho gets NCLT nod to relocate base to India
Entrackr
·
1m ago
Medial
Meesho gets NCLT nod to relocate base to India The National Company Law Tribunal (NCLT) has approved Meesho’s move to shift its headquarters back to India from Delaware in the US, taking it a step closer to its initial public offering (IPO). This allows Meesho to separate from its US entity and merge back with its Indian company, completing its move back to India. A Moneycontrol report also added that Meesho is likely to pay $288 million in taxes for the reverse flip. Confirming the development to Entrackr, a Meesho spokesperson said, “This filing is part of our ongoing transition to re-domicile in India. With the majority of our operations, including customers, sellers, creators and Valmo partners already based here, this step aligns our corporate structure with our day-to-day business footprint.” However, the spokesperson did not comment on the tax amount paid by the company. Media reports suggest that Meesho has also shortlisted Morgan Stanley, Kotak Mahindra Capital, JP Morgan, and Citi as its bankers and is likely to launch its IPO by the end of this year. Last week, the homegrown e-commerce platform also transitioned into a public entity from a private one ahead of its $1 billion IPO. Meesho adds to the growing number of Indian startups such as Razorpay, PhonePe, Groww, Pine Labs, and Zepto that have paid hefty taxes to relocate their base back home after originally being incorporated overseas. While Zepto and Dream11 did not disclose the amount of tax paid for the reverse flip, Razorpay paid $150 million, PhonePe and Groww paid Rs 8,000 crore ($1 billion then) and Rs 1,340 crore ($157 million) in taxes, respectively, to complete the process. Meesho’s rival Flipkart, with an estimated valuation of $36 billion, is also working on relocating its domicile from Singapore to India.
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Sequoia Leads $100 Million Investment in Mubi, Valued at $1 Billion, Expands with Mubi Go in Mexico | DeepNewz Mexico
Business Bytes
·
2m ago
Medial
Mubi, an art house streaming service and distributor, has secured a $100 million investment led by Sequoia, valuing the company at $1 billion. With approximately 20 million registered users worldwide, Mubi continues to expand, notably with its Mubi Go initiative, which offers subscribers a new film in theaters each week. This investment highlights Mubi's growing influence in the niche market of curated, independent cinema streaming.
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Zepto raises $340 Mn at $5 Bn valuation
Entrackr
·
11m ago
Medial
Quick commerce company Zepto has raised $340 million in a follow-on financing round led by General Catalyst, with Dragon Fund and Epiq Capital joining as new investors. Existing investors, including StepStone, Lightspeed, DST, and Contrary, also increased their stakes. With this new funding, the company’s valuation has surged by nearly 40%, rising to $5 billion from $3.6 billion in June, when it raised $665 million in its Series F round. Zepto, has raised over $1 billion in 2024, $1.2 billion in the past 12 months, and more than $1.5 billion since its inception. “The rationale behind this follow-on financing was twofold,” said Aadit Palicha, co-founder and CEO of Zepto. “First, the opportunity to bring on a lead investor of Neeraj Arora’s caliber from General Catalyst was one we couldn’t pass up. Second, strengthening our balance sheet is a strategic move, especially as the company continues to deliver robust growth and operating leverage.” Zepto serves millions of customers by delivering over 10,000 products across various categories within 10 minutes through a network of delivery hubs nationwide. The Mumbai-based firm claims it has nearly achieved EBITDA positivity with 140% year-on-year growth and an annualized gross merchandise value of over $1 billion (Rs 8,300 crore). As of May 2024, it also reports that about 75% of its stores are fully EBITDA positive. In FY23, Zepto registered a 14-fold increase in revenue to Rs 2,024 crore, though its losses widened to Rs 1,272 crore. The quick commerce sector is becoming increasingly competitive with Flipkart’s recent entry and BigBasket’s full shift to rapid delivery. Additionally, e-commerce leader Amazon is expected to join the market early next year. Currently, Zomato-owned Blinkit has emerged as top player in the quick commerce followed by Swiggy Instamart, Zepto and Tata Digital-owned BigBasket.
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