Zepto CEO and co-founder Aadit Palicha went on social media on Tuesday to respond to what he described as an "inaccurate statement" by Zomato CEO Deepinder Goyal about Zepto's finances. Palicha was reacting to a report by The Economic Times, where Goyal had implied that Zepto was making losses of over ₹2,500 crore every quarter.
In the report, Goyal had estimated that the aggregate cash burn in the quick commerce industry was at about ₹5,000 crore every quarter. "Much more than half of this is by Zepto… Compared to that, our burn rate is significantly lower. In the last quarter, Blinkit burned about ₹35 crore every month on average," Goyal was quoted to have said.
Palicha countered these assertions in a LinkedIn statement, claiming the comment was technically false. "This statement is falsifiable, and this will become clear when we file our financial reports publicly," he posted.
While Palicha disagreed, he clarified that there was no personal enmity between him and Goyal. He commended the leadership of the Zomato CEO in the startup world, clarifying that he believed Goyal did not intend to cause harm when he made the statement. "I know Deepinder, and I trust that he meant well. This quote may have been taken out of context or simply an honest mistake," he said.
He further expressed admiration for Goyal’s journey, recalling that Zomato was founded when he was just five years old. "Deepinder has become a role model for the Indian startup ecosystem. I’ve read all of his blogs, and it’s an honor to both learn from and compete with Zomato," he added.
Palicha concluded by stating that Zepto would refrain from commenting further to avoid an unnecessary public dispute.
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