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Zomato CEO Deepinder Goyal reportedly said Zepto was losing more than Rs 2,500 crore every quarter due to ‘cash burns’; Zepto CEO Aadit Palicha reponds by calling the statement “inaccurate” and “verifiably untrue”.
Zepto CEO Aadit Palicha (left) and Zomato CEO Deepinder Goyal.
Quick commerce firm Zepto CEO Aadit Palicha on Tuesday termed a statement against his company by Zomato CEO Deepinder Goyal as “verifiably untrue” and said Goyal’s claims on ‘cash burns’ implied that Zepto is losing substantially more than 2,500 crores per quarter.
“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,” Palicha said in a post on LinkedIn.
What Did Deepinder Goyal Say About Zepto?
Deepinder Goyal in his latest interview published by The Economic Times said, “We think the total burn for all companies in quick commerce is around Rs 5,000 crore per quarter, conservatively speaking.”
The Zomato CEO added that “substantially more than half of this is by Zepto… compared to this, we’re burning very low numbers. Last quarter, Blinkit burned around Rs 35 crore per month on average.”
How Zepto’s Palicha Responds
To this, Palicha said, “This statement is verifiably untrue and it will be clear when we publicly file our financial statements.”
Stating that there is no hard feeling for Goyal, Palicha said, “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.”
He also wrote, “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!”
The Mumbai-based firm reduced its absolute losses, with PAT (profit after tax) as a percentage of revenue improving from -63 per cent in FY23 to -28 per cent in FY24, as shared by Palicha in December 2024.
