Zepto chief executive Aadit Palicha took to LinkedIn to call out “inaccurate” statements by Zomato CEO Deepinder Goyal to ET about the quick commerce platform’s cash burn, calling the remarks “verifiably untrue”.
“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,” Palicha said in a post on Tuesday. Palicha said this would be proven wrong when the company files its financial documents.
The Zomato CEO spoke to ET in an exclusive interview, in which he said that Zomato-owned Blinkit accounts for only 2-3 per cent of the cash burn seen in the rapid delivery segment. “We think the total burn for all companies in quick commerce is around Rs 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. Last quarter, Blinkit burned around Rs 35 crore per month on an average,” he said.
‘Role model for founders’
“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,” he said.
Goyal’s comments
Goyal told ET that while Blinkit’s contribution to the industry’s cash burn is 2-3 per cent, the company’s market share is 40-45 per cent. “They (Zepto) have burned Rs 2,200-2,300 crore last quarter, and we have burned 4 per cent of that but still gained market share, so how does it matter? We’ll just do the right thing for the business,” Goyal said.
On February 15, ET had reported that companies in the quick commerce space were burning around Rs 1,500 crore every month.
Last month, a Citi Research report pegged Blinkit’s quick commerce market share at 41 per cent and Swiggy Instamart’s share at 23 per cent. It said that Zepto might be at par or higher than Instamart in market share.
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