Zepto CEO Aadit Palicha recently took to professional networking platform LinkedIn to dispute statements made by Zomato CEO Deepinder Goyal. Goyal, in a recently interview claimed that quick commerce companies were burning around Rs 5,000 crore each quarter, with Zepto reportedly accounting for more than half of that amount.
Goyal told Economic Times that while Blinkit only accounts for 2-3% of the industry’s cash burn, it still holds a 40-45% market share. “Zepto burned around Rs 2,200-2,300 crore last quarter, while we burned just 4% of that and still gained market share. So, why does it matter? We’ll keep focusing on what’s best for the business,” he said.
Palicha called these claims “verifiably untrue” and said the truth would come out when Zepto files its financial documents. Emphasizing that there Goyal “has only good intentions”, he stated that Goyal is a role model for Indian startup founders.
Here’s what Zepto CEO wrote in the LinkedIn post
In an Economic Times article today, Deepinder Goyal – whom I deeply respect as an entrepreneur – made an inaccurate statement about Zepto. His words were that Quick Commerce was burning 5,000 Crores per quarter of which “substantially more than half of this is by Zepto” – implying that we are losing substantially more than 2,500 Crores per quarter.
This statement is verifiably untrue and it will be clear when we publicly file our financial statements. However, I know Deepinder, and I know he has only good intentions; this quote could have been taken out of context or said as an honest mistake.
Deepinder started Zomato when I was 5 years old and he has become a role model for the Indian startup ecosystem. I have personally read all of his blogs and it’s a privilege to learn from and compete with Zomato. Our genuine intention is to build the Indian startup ecosystem together in good-faith, and build a world-class product for the Indian consumer 🙏
To all the journalists reaching out to me now, we will refrain from commenting on this again to avoid an unnecessary public back-and-forth. Thanks everyone!
