Zepto CEO Fights Back Against Smear Campaign Allegations
Zepto CEO Aadit Palicha accuses a competitor's CFO of orchestrating a smear campaign, alleging misinformation tactics against Zepto. He counters with positive operational metrics and refutes closure rumors. Zepto anticipates continued financial progress despite temporary cafe closures for supply adjustments.
- Country:
- India
Zepto's Co-Founder and CEO, Aadit Palicha, has openly accused a competitor's CFO of conducting a smear campaign against his quick commerce startup. In a LinkedIn post, Palicha claims the CFO attempted to mislead investors and the media, spreading false financial data and negative narratives about Zepto.
Palicha countered these allegations with impressive operational updates, highlighting a substantial increase in Zepto's Gross Order Value from Rs 750 crore to Rs 2,400 crore within a year. He reported a significant EBITDA improvement, reducing cash burn by 65%, and projected EBITA positivity across most stores by next quarter.
Although temporary operations halts have occurred, specifically in 40 Zepto cafes around Delhi, Palicha dismissed widespread closure rumors, emphasizing store launch acceleration to meet high demand. Zepto is financially stable, holding Rs 7,445 crore in net cash, promising a lengthy runway given the current burn rate.
(With inputs from agencies.)
Google News