'This statement is…’: Zepto CEO Aadit Palicha fact-checks Zomato's Deepinder Goyal on LinkedIn post

Zepto CEO Aadit Palicha recently took to LinkedIn to address statements made by Zomato CEO Deepinder Goyal regarding the financial situation of quick commerce companies. Goyal, in an interview with Economic Times, claimed that the industry was burning around Rs 5,000 crore each quarter, with Zepto allegedly responsible for more than half of this amount.

Goyal pointed out that while Blinkit, Zomato’s quick commerce venture, only accounted for 2-3% of the industry's cash burn, it still held a significant 40-45% market share. He mentioned, “Zepto burned around Rs 2,200-2,300 crore last quarter, while we burned just 4% of that and still gained market share. So, why does it matter? We'll keep focusing on what's best for the business.”

Palicha Calls Claims 'Verifiably Untrue'
Responding to these comments, Palicha described Goyal’s statements as "verifiably untrue" and assured that the truth would be evident once Zepto files its financial documents publicly. However, Palicha maintained a respectful tone towards Goyal, emphasizing that he believes Goyal had "only good intentions" and that the comment could have been a misunderstanding or an honest mistake.

In his LinkedIn post, Palicha wrote:

"In an Economic Times article today, 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. This statement is verifiably untrue and it will be clear when we publicly file our financial statements."

He continued to express admiration for Goyal, stating, “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.”

Palicha also stressed the importance of maintaining a positive and collaborative approach within the Indian startup ecosystem. He 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.”

To avoid any further controversy, Palicha concluded his post by addressing the media directly, saying Zepto would not comment further to prevent "an unnecessary public back-and-forth."

The exchange highlights the competitive nature of the quick commerce industry in India, where companies are vying for market share while managing costs and public perception.