Zepto co-founder and CEO Aadit Palicha on Tuesday took to social media to call out an "inaccurate statement" made against them by Zomato CEO Deepinder Goyal. Palicha was referring to an article published by the Economic Times in which Goyal implied that Zepto was losing significantly more than Rs 2,500 crore per quarter.
"We think the total burn for all companies in quick commerce is around Rs 5,000 crore per quarter, conservatively speaking," the publication quoted Goyal as saying. "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 average."
Commenting on this, Palicha wrote on LinkedIn: "This statement is verifiably untrue and it will be clear when we publicly file our financial statements."
'Deepinder started Zomato when I was five years old'
Clarifying that there were no hard feelings between the two business leaders, Palicha said he was certain that Goyal had good intentions when he made the comment. "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," he said. "Deepinder started Zomato when I was five 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 further stated that Zepto would not make any further remarks on this to avoid an unnecessary public back-and-forth.
(This story is being updated)
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