“Verifiably Untrue,” Aadit Palicha On Deepinder Goyal Saying Zepto Burns Rs 2,500 Cr Every Quarter

In a recent LinkedIn post, Zepto’s co-founder and CEO Aadit Palicha stated that a statement made by Zomato's Deepinder Goyal is “verifiably untrue.”

This is in reference to a certain cash burn statement that Goyal made while naming Zepto. 

WHAT DID DEEPINDER GOYAL SAY

According to an Economic Times article, Zomato CEO Deepinder Goyal stated that the total quarterly burn for the quick commerce industry is around Rs 5,000 crore. 

In his words, “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 an average.”

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ZEPTO'S AADIT PALICHA CLARIFIES

In his LinkedIn post, Aadit Palicha wrote that this statement implies “that we are losing substantially more than 2,500 Crores per quarter.”

Palicha emphasized that this statement is untrue and that it would be clear when Zepto files its financial statements. 

“HONEST MISTAKE”

However, the Zepto co-founder’s post did not take an attacking tone. 

Aadit Palicha wrote that he was sure that Deepinder Goyal had good intentions, and this statement might have been taken out of context. 

He wrote, “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.”

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“PRIVILEGE TO COMPETE WITH ZOMATO”

Calling it a privilege to learn from Zomato and compete with it, Palicha shared that he was only 5 years old when Goyal started Zomato and read all his blogs. 

In his words, “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.”

The Zepto co-founder also expressed the company's goal to build the Indian startup ecosystem together “in good faith.”

Aadit Palicha stated, “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 concluded by saying that they'll not comment on this matter again to avoid back-and-forth in the public domain.

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