Zepto CEO Aadit Palicha fact-checks Zomato CEO Deepinder Goyal’s Rs 5,000cr claim, ‘verifiably untrue’

Zepto co-founder and CEO Aadit Palicha has refuted a statement made by Zomato CEO Deepinder Goyal regarding the financial losses incurred by quick commerce players. In an Economic Times article published this week, Goyal claimed that the quick commerce industry was burning Rs 5,000 crore per quarter, with “substantially more than half of this” attributed to Zepto.

Palicha, in a public response, dismissed this assertion as “verifiably untrue,” adding that Zepto’s financials, once publicly disclosed, would provide clarity. He, however, refrained from attributing any malintent to Goyal, suggesting instead that the statement might have been taken out of context or was an honest mistake.

“This statement is verifiably untrue and it will be clear when we publicly file our financial statements. However, I know Deepinder, and I know he has only good intentions,” Palicha said.

Palicha, who has previously spoken about his admiration for Goyal, reiterated his respect for the Zomato founder, calling him a “role model for the Indian startup ecosystem.” He noted that he had followed Goyal’s journey closely, reading all his blog posts, and acknowledged the privilege of competing with Zomato.

“Deepinder started Zomato when I was five years old and he has become a role model for the Indian startup ecosystem,” Palicha wrote. “Our genuine intention is to build the Indian startup ecosystem together in good faith and build a world-class product for the Indian consumer.”

Zepto, which recently became India’s first quick commerce unicorn, has been aggressively expanding its operations in the country, competing with Blinkit, Swiggy Instamart, and Dunzo. While the sector is capital-intensive, Zepto has claimed progress toward profitability, a stance that contradicts Goyal’s assertion of massive cash burn.

Palicha also addressed the media inquiries following Goyal’s statement, stating that Zepto would not issue further comments to avoid a prolonged public debate. “To all the journalists reaching out to me now, we will refrain from commenting on this again to avoid an unnecessary public back-and-forth,” he said.