I am confident we will continue growing with a clear path to PAT profitability in the near term, said Palicha
Zepto clocked an annualised GOV of $550 Mn in January 2023 and then scale it up to $1 Bn by April 2024
In 2024, Zepto expanded its operations to 35 cities in 2024 compared to just seven in 2023 while doubling its store count YoY to 650 last year
Zepto cofounder and CEO Aadit Palicha has claimed that the quick commerce startup clocked an annualised gross order value (GOV) of $3 Bn (nearly INR 24,500 Cr) in January 2025.
In contrast, Zepto reported an annualised GOV of $1 Bn in April 2024, said Palicha in a post on networking platform LinkedIn. Effectively, the startup appears to have tripled the metric in a span of eight months.
“This milestone is entirely due to the execution, rigour, and discipline of this team (that I am lucky to be a part of). With this team, I am confident we will continue growing with a clear path to PAT (profit after tax) profitability in the near term,” added Palicha.
A picture attached with his post also showed that the quick commerce platform clocked an annual GOV of $550 Mn in January 2023. For the uninitiated, GOV encompasses the total value of orders received over a certain period of time before any discounts, returns or cancellations.
Zepto’s GOV is witnessing an uptick at a time when the company has aggressively expanded its footprint and forayed into new segments in recent months. Compared to seven cities where it was operational in 2023, Zepto expanded its presence to 35 in 2024. Meanwhile, it also doubled its store count to 650 last year versus 300 in the preceding year.
Amid the rising tide of competition in the quick delivery space, Zepto also spun off a new app called Zepto Cafe to deliver quick to prepare dishes such as tea, coffee, pastries and savoury snacks within 10-15 minutes.
Founded in 2021 by Palicha and Kaivalya Vohra, Zepto currently operates a quick commerce platform, which delivers groceries and other kitchen staples within 10 minutes. The company grabbed headlines last year after it raised a mammoth $1.3 Bn across multiple funding rounds last year.
Earlier this month, Zepto floated a new entity to pivot to a marketplace model from the previous B2B2C structure, following the suit of rivals Zomato-owned Blinkit and Swiggy Instamart. The pivot comes as the company is reportedly gearing up to file its draft red herring prospectus (DRHP) with market regulator SEBI in March or April this year.
To list on the Indian bourses, the quick commerce major is said to be in the process of redomiciling its base to India. As per reports, Zepto has already obtained the necessary permissions from Singapore authorities to relocate its base back to the home country.
Meanwhile, the National Company Law Tribunal (NCLT) is scheduled to hear the matter on January 17. In addition, the quick commerce platform has also called for a board meeting on January 19 to finalise the bankers and the size of IPO.
