“I Was Just 5 When Deepinder Goyal Started Zomato,” Says Zepto CEO Aadit Palicha
"I Was Just 5 When Deepinder Goyal Started Zomato," Says Zepto CEO Aadit Palicha
Mumbai – Aadit Palicha, co-founder and CEO of Zepto, has publicly refuted Zomato CEO Deepinder Goyal’s claim that Zepto is burning ₹2,500 crore per quarter. In a LinkedIn post, Palicha labeled the statement as “verifiably untrue” and assured that Zepto’s financial health will be clear when the company releases its financial statements.
Palicha, who is in his early twenties, emphasized his respect for Goyal while contesting his remarks. He also highlighted the significant age gap between them, noting that he was just five years old when Goyal founded Zomato.
Goyal’s Claim on Quick Commerce Spending
Deepinder Goyal, in an interview with The Economic Times, had stated that the quick commerce sector in India is collectively burning ₹5,000 crore per quarter, with Zepto accounting for “substantially more than half” of this amount. He contrasted this with Zomato-owned Blinkit, which he claimed has a significantly lower burn rate, contributing only 2-3% of the total.
Palicha’s Response: “Statement is Verifiably Untrue”
Responding to these claims, Palicha said, “Deepinder Goyal—whom I deeply respect as an entrepreneur—made an inaccurate statement about Zepto in an Economic Times article today.”
Referring to Goyal’s statement, Palicha clarified, “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; this quote could have been taken out of context or said as an honest mistake.”
Acknowledging Goyal’s Influence
Despite the disagreement, Palicha acknowledged Goyal’s influence on the Indian startup ecosystem. “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,” he wrote.
Zepto vs. Zomato: A Startup Timeline
Zomato, founded in 2008 by Deepinder Goyal and Pankaj Chaddah, initially operated as “Foodiebay” before rebranding to “Zomato” in 2010. In contrast, Zepto was launched in 2021 by Aadit Palicha and Kaivalya Vohra, both of whom dropped out of Stanford University to focus on building their quick commerce startup.
While the debate over quick commerce spending continues, Zepto’s financial disclosures in the future will likely provide more clarity on the company’s actual burn rate.
