Zepto co-founder and CEO, Aadit Palicha, reveals the ambitious goal of surpassing offline retailer DMart's sales in the next 18-24 months. With a current valuation of $3.6 billion, Zepto has rapidly grown in the past three years, reaching ₹10,000 crore in sales. Palicha highlights the potential of India's $650 billion grocery market and Zepto's focus on dominating the top 50-75 million households in the country's top 40 cities. The company is also gearing up for an IPO in the next year as part of their path to profitability.
Zepto, the Indian grocery delivery startup, has set an ambitious goal of surpassing offline retail giant DMart's sales in the next 18-24 months. Founded in 2020, Zepto has grown rapidly in the past three years, reaching ₹10,000 crore in sales.
Co-founder and CEO Aadit Palicha's Vision
According to co-founder and CEO Aadit Palicha, Zepto aims to dominate the top 50-75 million households in the country's top 40 cities. He believes in the immense potential of India's $650 billion grocery market, which is largely untapped by organized retail.
"We want to be the largest grocery retailer in India, both offline and online," Palicha said. "We believe that we can offer a better shopping experience, faster delivery, and a wider selection of products than any other player in the market."
Strategic Focus
Zepto's strategy revolves around:
Path to Profitability and IPO
Palicha revealed that Zepto is gearing up for an IPO in the next year as part of its path to profitability. The company is currently valued at $3.6 billion, making it one of the most valuable startups in India.
Top 5 FAQs
1. What is Zepto's target market? Zepto targets the top 50-75 million households in India's top 40 cities.
2. What is Zepto's main advantage? Zepto's ultra-fast delivery is its primary advantage.
3. How does Zepto compete with offline retailers? Zepto matches prices with offline retailers and offers discounts to attract customers.
4. When is Zepto planning to launch an IPO? Zepto is gearing up for an IPO in the next year.
5. What is Zepto's current valuation? Zepto is currently valued at $3.6 billion.
A Madurai-bound Air India flight from Chennai was forced to make a quick return to the city due to a technical issue. The aircraft safely landed at Chennai airport and passengers were offered alternative arrangements to reach their destination. Air India officials assure that safety is their top priority and offer full refunds and complimentary rescheduling for passengers affected by the unexpected disruption.
Indian pharmaceutical company, Biochemix Health Care Pvt. Ltd. (Novamed), announced a new partnership with Indian Drug Manufacturers, creating new opportunities for their business and expanding their reach in the Indian market. This partnership comes at a time when the healthcare industry is ever-evolving, and such collaborations will pave the way for advancements in medical treatments in India.
JTL Industries announced that its board has approved a proposal to split the company's equity shares, making them more affordable and accessible to small investors. The stock closed 0.42% lower on Thursday, with a market cap of Rs 4,437.98 crore. The division of shares is expected to be completed within two months, with the aim of increasing liquidity in the capital market. This is the second stock split for the company, which has seen a phenomenal rally of 88% in the last two years and a whopping 2773% in the last five years.
Prime Minister Narendra Modi released the 18th installment of PM Kisan Yojana during his visit to Maharashtra, with more than 9.4 crore farmers benefiting from over Rs 20,000 crore. This brings the total amount disbursed through the PM Kisan scheme to nearly Rs 32,000 crore for 1.20 crore farmers in Maharashtra alone. Additionally, the Prime Minister also announced the release of nearly Rs 2,000 crore for Maharashtra's farmers under the Namo Shetkari Mahasanman Nidhi Yojana. Farmers facing issues with the scheme can contact the PM Kisan helpline numbers for assistance, while staying updated on the latest business and stock market news on Zee Business's social media platforms and website.
Nissan Motor India introduces updated version of its compact SUV, the Magnite, in the Indian market with visual and interior enhancements. The prices, starting at Rs. 5.99 lakh, are valid for the first 10,000 customers and deliveries have already begun. The new Magnite features a more prominent front grille, revised bumper, new LED DRLs, new variant names, and refreshed interior design with ambient lighting and two-tone leatherette seats.
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A couple in Kanpur is accused of scamming people of over Rs 35 crore by promising to use an "Israel-made time machine" to make their skin look younger. The couple ran a therapy center called 'Revival World' and convinced people that the polluted air in the city was causing them to age faster. They charged Rs 90,000 for the "oxygen therapy" which they claimed could make a 60-year-old look like a 25-year-old. The shocking scam came to light after three individuals who were duped by the couple filed complaints with the Kanpur Police.
Despite attempting to absolve themselves of legal responsibility for child safety infractions by merging Twitter into X, Elon Musk's company is still facing a $400,000 fine for failure to comply with an investigation into the proliferation of child sexual abuse material on its platform. The presiding judge rejected X's argument that they had no obligation to respond to the notice, stating that under Nevada law, the merger turned Twitter into a "constituent entity" and transferred all of its liabilities to X. The judge also called out the company's expert witness for providing "superficial" and flawed testimony in an attempt to defend X's actions.
The International Olympic Committee has suffered a major blow as three of its Japanese sponsors – Toyota, Panasonic, and Bridgestone – have decided to not renew their contracts. This is believed to be a result of the controversies surrounding the postponed 2020 Tokyo Games, including fan bans, high costs, and corruption scandals. The IOC will now be looking to secure new sponsorship income from the Middle East and India, as it faces the loss of over $2 billion from these three companies alone.
Indian Bank has recently released the admit card for the online exam for the post of Local Bank Officer (LBO) on their official website indianbank.in. Candidates can now download their admit cards by following a few steps and entering their registration number and date of birth. This update is crucial for aspiring candidates looking for latest government jobs and exam preparation materials, which are available on the Jagran Josh Sarkari Naukri App.