Zepto CEO Aadit Palicha has responded to Zomato CEO Deepinder Goyal’s claims regarding Zepto’s financials, stating that he has immense respect for Goyal but refuting the assertion that his company is burning excessive cash. In a LinkedIn post, Palicha pointed out that he was only five years old when Goyal launched Zomato.
Palicha’s Journey and Response to Cash Burn Allegations
A Stanford dropout, Aadit Palicha co-founded Zepto in 2021. Addressing Goyal’s statement that Zepto is responsible for burning over ₹2,500 crore per quarter, Palicha dismissed the claim as inaccurate.
“This statement is verifiably untrue and it will be clear when we publicly file our financial statements,” Palicha wrote in his LinkedIn post.
His response follows Deepinder Goyal’s remarks in an Economic Times interview, where the Zomato CEO estimated that India’s quick commerce industry is burning around ₹5,000 crore per quarter, with Zepto accounting for more than half of that figure. Goyal also noted that Blinkit, Zomato’s quick commerce arm, contributes only 2-3% to that burn rate.
“We think the total burn for all companies in quick commerce is around ₹5,000 crore per quarter, conservatively speaking. Substantially more than half of this is by Zepto… compared to this, we’re burning very low numbers,” Goyal told the Economic Times.
Zepto CEO: “Respect Goyal, But Claim is Incorrect”
Palicha challenged the accuracy of Goyal’s statement but acknowledged that it could have been an honest mistake or taken out of context.
“In an Economic Times article today, Deepinder Goyal – whom I deeply respect as an entrepreneur – made an inaccurate statement about Zepto,” Palicha said.
“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,” he continued.
“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,” he added.
“Deepinder Started Zomato When I Was 5”
Palicha also acknowledged Deepinder Goyal’s contributions to the Indian startup ecosystem, sharing his admiration for the Zomato founder.
“Deepinder started Zomato when I was 5 years old and he has become a role model for the Indian startup ecosystem,” he wrote.
“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 added.
Zomato, initially founded as Foodiebay in 2008 by Deepinder Goyal and Pankaj Chaddah, rebranded to its current name in 2010. In contrast, Zepto was launched in 2021 by Aadit Palicha and Kaivalya Vohra, who both dropped out of Stanford University to focus on their startup.