CEO Aadit Palicha said that Zepto, a unicorn in quick commerce, is on the verge of reaching an annually Gross Order Value (GOV) of $4 billion. Aadit Palicha wrote on LinkedIn that the company's annualized GOV increased from $1 billion to almost $3 billion in just 8 months.
Palicha went on to say that this is a 30% increase since January and a growth of almost 300% from the previous year.
Zepto's GOV estimates take into account the selling price of fruits and veggies as well as the money made from advertisements, subscriptions, and other services.
Over the last three months, the company has also cut its operating cash flow (OCF) loss by 50% and its EBITDA loss (earnings before interest, taxes, depreciation, and amortization) by 50%, excluding employee stock ownership plans (ESOPs).
Zepto is a fast-commerce website established in Mumbai that guarantees 10-minute delivery of groceries and other necessities. It uses a network of dark retailers spread over different cities to operate. With the support of top international investors, Zepto has grown rapidly to become a significant force in India's online grocery market.
According to Palicha, Zepto has a healthy cash reserve on its balance sheet and is presently on the verge of breaking even on both EBITDA (ex-ESOPs) and OCF. Similar to those that was opened during previous expansion rounds, the company's recently opened dark stores are likewise expected to attain EBITDA breakeven.
