We're like 90s' Amazon, $50-80 bn possible if executed well: Zepto CEO

The CEO and co-founder of the Mumbai-based Zepto, the quick-commerce unicorn, Aadit Palicha, spoke at the Moneycontrol Startup Conclave yesterday.

Palicha claimed that Zepto is in a position similar to where Amazon was initially, particularly in the late 1990s and early 2000s. He said Zepto could be valued at $50-80 billion with proper execution.

"We are where Amazon was in the late 90s, early 2000s. We are sitting on the right macro and the right business model to create something that is very large. And if we execute well, we are sitting on a $50-80 billion outcome," Palicha claimed.

Palicha mentioned that success depends largely on execution, noting that there were companies in the past that had the potential but couldn't execute effectively. He also said it's important to maintain a "razor-sharp focus", stating that Zepto does not have plans to enter new avenues or adjacent businesses in the coming years.

Growth Status:

Zepto has successfully raised funds over the past year. Moneycontrol reports, in August last year, it raised $231 million at a valuation of $1.4 billion. Recently, it raised $665 million at a valuation of $3.6 billion. Additionally, it has attracted investor interest for another $250 million in a new round that values the company at around $4.6 billion, with the potential participation of private equity giants like General Catalyst and KKR.

As reported by various media outlets, the unicorn startup is also changing its base city from Mumbai to Bengaluru because of cost-efficiency and high rental issues. 

Palicha's quick commerce unicorn now plans to target the top 50-75 million households in India's top 40 cities, as they account for a significant portion of the country's grocery and daily essential purchases. The company predicts these households will contribute $400 billion to the projected $850 billion Indian grocery market by FY29.