On Tuesday, March 4, Zepto CEO Aadit Palicha called out Zomato CEO Deepinder Goyal over claims that Zepto is losing ₹2,500 crore per quarter. Palicha took to LinkedIn to refute Goyal’s earlier statement, published in a news report, which claimed that quick commerce is burning ₹5,000 crore per quarter, with Zepto accounting for “more than half of that”. Palicha clarified that Goyal’s statement implied Zepto is losing ₹2,500 crore per quarter, a claim that Palicha deemed untrue.
Aadit Palicha, CEO of Zepto, took to LinkedIn to address an inaccurate statement made by Deepinder Goyal, CEO of Zomato, in an Economic Times article. Palicha quoted Goyal’s statement, saying “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 crore per quarter, of which ‘substantially more than half of this is by Zepto’ – implying that we are losing more than 2,500 crore per quarter.”
Although disputing Goyal’s claims, Palicha expressed his admiration for the Zomato CEO, stating that he “deeply respects” him as an entrepreneur. Labeling Goyal’s statement as “verifiably untrue”, Palicha added, “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 an honest mistake.”
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At just 22 years old, Zepto co-founder Aadit Palicha is one of India’s youngest and wealthiest entrepreneurs. In his statement, Palicha revealed that he regards Deepinder Goyal as a ‘role model’ for the Indian startup ecosystem. Interestingly, Palicha was only five years old when Goyal first launched Zomato as a restaurant review platform, which has since evolved into India’s leading food delivery company.
Aadit Palicha expressed his admiration for Deepinder Goyal, stating that he has become a role model for the Indian startup ecosystem. “Deepinder started Zomato when I was five years old, and he has become a role model for the Indian startup ecosystem. I have read all of his blogs, and it’s a privilege to learn from and compete with Zomato,” said Palicha. He further emphasized the importance of collaboration and fair competition, adding, “Our genuine intention is to build the Indian startup ecosystem together in good faith and build a world-class product for the Indian consumer.”
Zepto, in December, revealed its plans to become a fully Indian-owned entity and achieve profitability by the next fiscal year (FY26). This announcement followed a successful $350 million funding round from prominent domestic investors. Additionally, Zepto co-founder Aadit Palicha expressed optimism about the possibility of an initial public offering (IPO) as early as 2025.
In a recent interview with PTI, Aadit Palicha pushed back against claims that the quick commerce model is harming traditional Kirana stores. He stated that these “narratives” are not supported by actual data and overlook the industry’s “net positives”, such as job creation.
Zepto’s latest fundraising round was led by Motilal Oswal’s Private Wealth division. According to Palicha, the primary objective of this round was to boost domestic ownership, paving the way for a potential initial public offering (IPO) in 2025. “We’re optimistic that if the business continues to perform as well, we will go public in calendar 2025,” Palicha stated in an interview with PTI.
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