Zepto co-founder and CEO Aadit Palicha has publicly accused the chief financial officer (CFO) of a rival company of orchestrating a smear campaign to discredit the fast-growing quick commerce startup.
In a LinkedIn post, Palicha alleged that the rival CFO has been circulating false financial data to investors, journalists, and social media platforms using proxy sources and paid bots. He described the alleged actions as “below the stature expected of the CFO of a high-quality company”, suggesting that the rival firm is “starting to get nervous” about Zepto’s rapid financial growth.
Zepto’s Financial Performance & Growth
Palicha backed his claims with recent financial data, highlighting Zepto’s strong growth trajectory:
- Gross Order Value (GOV): ₹2,400 crore per month (↑ from ₹750 crore in May 2024)
- EBITDA Improvement: 2,000 basis points in five months
- Cash Burn Reduction: 65% since January 2025
- Net Cash Reserves: ₹7,445 crore (fully reconciled with bank statements)
Zepto expects most of its dark stores to be EBITDA-positive by the next quarter and aims for company-wide breakeven soon.
Industry Competition & Market Dynamics
The allegations come amid intensifying competition in India’s quick commerce sector, where Zepto competes with Blinkit (owned by Zomato), Swiggy Instamart, Flipkart Minutes, and Tata BigBasket. The market has grown fivefold since 2022, with a $6–7 billion valuation.
Palicha’s Response & Future Outlook
Palicha emphasized Zepto’s commitment to transparency, citing rigorous financial audits and best-in-class governance practices. He urged the rival CFO to “stop this activity”, stating that healthy competition is acceptable, but misinformation is not.
With strong financial backing and aggressive expansion plans, Zepto remains focused on scaling operations and strengthening its market position in India’s booming quick commerce industry.
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