😎 Summer Sale Exclusive - Up to 50% off AI-powered stock picks by InvestingProCLAIM SALE

Want Zepto to become a $50 bn company that employs lakhs of people: CEO

Published 24-06-2024, 01:23 am
© Reuters.  Want Zepto to become a $50 bn company that employs lakhs of people: CEO

New Delhi, June 23 (IANS) Zepto Co-founder and CEO Aadit Palicha on Sunday said they are ready to turn the quick commerce platform into a $50 billion company. The Zomato-owned Blinkit’s rival had just raised $665 million at a $3.6 billion valuation in a highly oversubscribed round. The new funding came just nine months after the company raised $235 million at a $1.4 billion valuation.

"Reflecting on the past 3 years of building Zepto: the story of 2 kids dropping out of college and starting a company that is worth 30,000 crore in just 3 years is only possible in one country in 2024: India," Palicha wrote on X.

He further said they are ready to "dedicate ourselves to building Zepto into a world-class $50B Indian company that employs lakhs - as a way to give back to this country that has given us so much".

Founded in 2021 by Stanford University dropouts, Aadit Palicha and Kaivalya Vohra, Zepto became one of India’s fastest-growing internet companies. Headquartered in Mumbai, Zepto delivers over 10,000 products, ranging across categories in 10 minutes.



Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.