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Zepto’s cash burn rises to ₹250 cr/month, 6x more than May: Report
Money Control
·
8m ago
Medial
Zepto’s cash burn has risen over six fold to over ₹250 crore/month in the last two months as the startup amps up investments in operations, marketing and hiring, Moneycontrol reported. CEO Aadit Palicha confirmed the rise but not the exact figure. Zepto's monthly cash burn was averaging at ₹35-40 crore in May. It's spending nearly ₹120 crore/month on digital marketing.
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Perplexity launches a $200 monthly subscription plan | TechCrunch
TechCrunch
·
1m ago
Medial
Perplexity has introduced a $200-per-month subscription plan, Perplexity Max, catering to power users with unlimited access to its spreadsheet and report generation tools, as well as early access to new features. The plan aims to capitalize on power user demand similar to OpenAI’s ChatGPT Pro. Despite generating $34 million in revenue, the company faces significant cash burn. The competitive AI search market includes players like Google and OpenAI, challenging Perplexity's market position.
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MyGate’s Operating Revenue Jumps 35% To INR 96.2 Cr In FY24; Cost Optimisation Continues
Inc42
·
1y ago
Medial
In FY24, MyGate, a startup, generated INR 85.4 Cr in enterprise revenue with a 35.1% YoY growth. Additionally, it earned INR 10.9 Cr from consumer services. The company reported an 85% reduction in cash burn, achieving zero cash burn in the March quarter. However, MyGate recorded an adjusted EBITDA loss of INR 20.4 Cr, an improvement compared to the INR 71.3 Cr loss in the previous fiscal year.
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BharatPe’s revenue crosses Rs 1,000 Cr in FY23
Entrackr
·
1y ago
Medial
Fintech firm BharatPe has achieved over Rs 1,000 crore in revenue in FY23, according to the company's financial statements. In this fiscal year, BharatPe's revenue from operations more than doubled to Rs 1,029 crore, while its non-operating revenue declined by 38% to Rs 139 crore. The company's consolidated revenue reached Rs 1,168 crore, considering non-operating income. BharatPe also reported increased expenses, and its loss after tax in FY23 amounted to Rs 941 crore. However, the company stated that its annualized revenue has surpassed Rs 1,500 crore with a reduced EBITDA burn of Rs 60 crore per month.
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LEAD Schools’ FY23 Loss Narrows 18.5% to INR 322 Cr
Inc42
·
1y ago
Medial
Mumbai-based edtech startup LEAD School reported a net loss of INR 321.9 crore ($42.5 million) for the financial year 2022-23, an 18.5% decrease from the INR 395.3 crore loss it posted in the previous fiscal year. The company's operating revenue more than doubled to INR 273.1 crore from INR 132.3 crore. LEAD School, backed by WestBridge Capital, attributed the reduction in losses to cost-cutting measures, stating that it reduced its cash burn by 60-70% in FY23 compared to the previous year. Employee expenses continued to be the biggest expenditure for the startup, which laid off over 160 employees during the year.
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Zepto delays IPO plans to 2026: Report
Entrackr
·
2m ago
Medial
Zepto delays IPO plans to 2026: Report Zepto, the quick commerce company, has reportedly postponed its plans to launch an initial public offering (IPO) to 2026. According to a report by Moneycontrol, this represents a change from the company’s earlier timeline, in which co-founder and CEO Aadit Palicha had indicated a listing in 2025. The report noted that the company is unlikely to go public this year, even if it files its draft red herring prospectus (DRHP) in the coming months. The IPO timeline has reportedly been extended multiple times, with internal discussions highlighting the need for stronger financial metrics before pursuing a public listing. Zepto is currently focused on reducing its cash burn and improving profitability before entering the public markets. Queries sent to Zepto did not elicit an immediate response. Due to rising operational costs, Zepto Cafe, the food service unit of Zepto, has temporarily closed in several smaller North Indian cities, including Agra, Chandigarh, Meerut, Mohali, and Amritsar. The company shut down approximately 44 cafes, affecting more than 400 employees. Media reports indicate that Zepto was spending between Rs 250 crore and Rs 300 crore per month toward the end of last year. Meanwhile, the Aadit Palicha-led company is finalising a Rs 1,500 crore (approximately $175 million) structured debt deal with Edelweiss Alternative Asset and other investors. The funds will be used to buy back shares from foreign investors, increasing Indian ownership ahead of the IPO.
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Early investors set to gain from new-age IPO windfall
Economic Times
·
1y ago
Medial
Investors who got in early on the upcoming IPOs of FirstCry and Ola Electric could see significant returns. Companies like SoftBank, Tiger Global, Mahindra & Mahindra, and Matrix Partners India are expected to see their stock value surge by three to ten times. This means SoftBank's gains in FirstCry could exceed 3X based on its acquisition cost, while Mahindra & Mahindra could see a nearly 6X gain. Similarly, early backers of Ola Electric like Tiger Global and Matrix Partners India could achieve gains of more than 6X and nearly 10X, respectively. Latecomers may face notional losses due to moderated valuations. Founders of FirstCry and Ola Electric, Supam Maheshwari and Bhavish Aggarwal, are expected to accumulate significant wealth through the IPOs.
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India’s business activity rises 58.6 in October
Money Control
·
9m ago
Medial
India's business activity in October saw a slight pick-up, as indicated by the HSBC Flash India Composite Output Index. The index rose to 58.6 from the previous month's 10-month low of 58.3. Manufacturing activity recovered more strongly than services, with job additions reaching the highest level since February 2006. However, inflation rose to a three-month high due to input cost increases. The outlook for the future is mixed, with manufacturers having a more positive sentiment compared to service providers. The Reserve Bank of India and the International Monetary Fund have maintained their growth forecasts for the year.
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Zepto Cafe hits pause in smaller cities amid supply chain woes and high burn
Entrackr
·
2m ago
Medial
Zepto Cafe has temporarily closed in several smaller North Indian cities, including Agra, Chandigarh, Meerut, Mohali, and Amritsar. Around 44 cafes have shut down, affecting over 400 employees, including some from newly opened locations. The closures are happening due to rising costs and supply chain issues. A Moneycontrol report says Zepto was spending Rs 250–300 crore per month late last year. Recently, that spending has dropped to about Rs 95 crore a month, down from Rs 115–120 crore in March and Rs 105–110 crore in January and February. A big factor is Zepto’s push to hire more staff. The Aadit Palicha-led company is reportedly trimming store teams from nine people to seven or eight to lower expenses and streamline operations. In a statement to ET Now, the company confirmed that the impacted outlets have been put on hold to resolve ongoing supply chain challenges. Zepto said it expects to resume operations in these locations by the end of the next quarter. “We remain committed to the cafe business and will invest aggressively going forward,” a spokesperson added. Despite the turbulence, Zepto maintains an optimistic outlook. The company reported crossing 1,00,000 daily orders in February and expects that number to triple within the next 12 months. This development comes as major competitors revisit their rapid food delivery strategies. Zomato recently shut down its 10-15 minute food delivery service, while Swiggy has scaled up Swiggy Bolt to more than 500 cities.
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Amazon's senior employees may not get a cash pay raise this year
Economic Times
·
1y ago
Medial
Amazon has announced that senior employees who receive more stock-related compensation than cash may not receive a cash pay raise this year. The company is prioritizing cash base pay increases for employees whose compensation is weighted more heavily in base pay. However, some senior employees may still see their compensation increase due to the growth of Amazon's stock price. Despite the strong performance of the stock, Amazon began the year by cutting jobs and trimming stock awards to reduce costs.
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From burn to earn: What’s behind start-ups’ pre-IPO glow-ups?
Business Today
·
2m ago
Medial
India's start-ups are increasingly turning profitable just before their IPOs, a trend seen across various sectors. Zepto, a quick commerce start-up, exemplifies this with a 65% reduction in cash burn and a 20 percentage point Ebitda improvement from January to May 2025, while maintaining a 20% growth in Gross Order Value. This strategy, observed in companies like Urban Company, raises both interest and skepticism, as these pre-IPO transformations become more common.
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