Latest news with #AaditPalicha
Reuters
12-06-2025
- Business
- Reuters
Breakingviews - Ultra-quick commerce is entering a slow death
MUMBAI/BENGALURU, June 11 (Reuters Breakingviews) - The hottest corner of India's e-commerce market is running on fumes. Nexus Venture Partners-backed Zepto, the money-losing startup that delivers everything from onions to speakers in 10 minutes, is deferring plans to go public by a year as it struggles to cut costs, news website Moneycontrol reported, opens new tab last week. Rival offerings from Eternal ( opens new tab, formerly Zomato, and Swiggy ( opens new tab are bleeding cash too. The sensible - and likely - next move for all three would be to stop offering ultra-quick deliveries at all. The combination of densely populated cities like Mumbai and New Delhi plus abundant cheap labour made it look possible that India could pull off a delivery model that has failed elsewhere, and spawned an industry Bernstein estimates is worth $10 billion. As the top player in the space with a 43% share by monthly active users, Zepto looked like a winner. Its valuation nearly quadrupled to $5 billion in the 12 months to August 2024. Almost a year on, the euphoria looks hard to sustain. Adjusted EBITDA losses at Swiggy's Instamart and Eternal's Blinkit widened in the first three months of this year due to an aggressive expansion of so-called dark stores that also act as mini-warehouses. More spending is underway: HSBC expects Zepto to increase its dark stores by 18% to 1,000. Competition is intensifying too: Tata group-backed BigBasket is entering the 10-minute food delivery space, going up against Blinkit's Bistro and Zepto's Cafe, Reuters reported on Tuesday. It's not clear if and when 10-minute deliveries can turn a sustainable profit. At least Swiggy and Eternal have other businesses to cushion the blow. But for Zepto, which will struggle to replicate its model beyond big cities, the pressure to stem its losses is mounting. Founders Aadit Palicha and Kaivalya Vohra are eyeing the high-yield loan market and say the company will be close to breaking even, opens new tab on EBITDA and operating cash flow in three months. Meanwhile, public market investors are pickier. Electric-scooter maker Ather Energy ( opens new tab and Brookfield-backed luxury hotel chain Schloss Bangalore ( opens new tab had weak trading debuts despite downsized offers. Investors' patience with unprofitable startups is running thin after Ola Electric Mobility's ( opens new tab disastrous run since its August listing. Shares of Eternal and Swiggy are down by up to a third this year, while the benchmark Nifty 50 Index (.NSEI), opens new tab has risen. All this should be enough to prompt a serious rethink of whether it's worth trying to deliver someone an onion, or anything else, in under 10 minutes. Follow Shritama Bose on LinkedIn, opens new tab and X, opens new tab and Ujjaini Dutta on LinkedIn, opens new tab and X, opens new tab.
Indian Express
10-06-2025
- Business
- Indian Express
‘Accidents are common': former Blinkit employee reveals harsh ‘reality' of 10-minute delivery service
In today's fast-paced life, 10-minute grocery delivery services are nothing short of a boon. However, the functioning of delivery platforms like Blinkit, Swiggy Instamart, and Zepto has often ignited conversations about the safety of their workers, who face intense pressure to deliver each order as quickly as possible. A former Blinkit employee, who worked as a part-time picker and packer at the company's dark stores, recently highlighted the harsh 'reality' faced by delivery agents. In a now-viral Reddit post, the user claimed that the delivery agents do not walk but run as fast as they can to pick up their orders, revealing that he even had a few accidents. 'The warehouses (called dark stores) are super small, packed with racks and items, and we're expected to run non-stop while picking orders. Like actually run, not walk fast,' the post read. 'You're dodging other pickers, turning sharp corners, and racing against a timer. I've had a few accidents. Once I collided with another guy and broke my phone. These kinds of things happen almost daily because it's all rush and no safety,' it added. The user further explained that the workers follow a timer called PPI (per picking item). When they fail to find an ordered item, the managers ask them to log out and leave. 'We had to follow a timer called PPI (Per Picking Item). If it takes even a few extra seconds to find an item (maybe it's misplaced or out of stock), the manager tells you to log out and go home. The pressure from higher-ups is crazy, and managers just pass it on to the workers,' the post said. Drawing attention to the hardships faced by full-time staff at Blinkit, the user claimed that workers are expected to manually unload two to three trucks each day. They also pointed out that full-time employees often work long hours and are responsible for tasks such as stocking the cold room. 'These guys are constantly on their feet and barely get proper breaks. And if anything goes wrong, they get blamed,' the post added. See the post here: Worked part-time at Blinkit — 10-minute delivery sounds cool, but the reality for workers is brutal byu/Automatic_Demand_802 inindia The company has not yet responded to the allegations. Last year, Aadit Palicha's company Zepto came under scrutiny after an employee highlighted its toxic work culture.
Hindustan Times
02-06-2025
- Business
- Hindustan Times
Reddit community on Zepto dark patterns grows to nearly 10,000 users, customers slam hidden charges, fake MRPs
A Reddit community dedicated to calling out shady app practices by Zepto has grown to nearly 10,000 members in less than five months. The quick growth of the 'F*** Zepto' subreddit and the sheer volume of complaints it hosts daily highlights the growing dissatisfaction against the quick-commerce platform led by Aadit Palicha and Kaivalya Vohra. has reached out to Zepto for a statement. This story will be updated when the company responds. 'F*** Zepto' is a community on Reddit that serves as 'a platform for customers to call out anything unethical related to Zepto.' Zepto is a quick commerce platform that was launched in 2021 by Stanford dropouts Aadit Palicha and Kaivalya Vohra. Like its competitors Blinkit and Instamart, Zepto aims to deliver groceries and household essentials to customers in 10 minutes or less. The 'F*** Zepto' subreddit was created in January 2025. In less than five months, it has amassed more than 9,200 followers. According to its bio, 'This community aims to hold Zepto accountable by exposing' dark patterns, hidden fees, selective pricing, MRP manipulation, misleading discounts and other such malpractices. The subreddit is inundated daily with complaints against Zepto. Some issues that crop up frequently include: Users being unable to use 'free cash': Zepto is known for offering "Zepto Cash" to users. The company claims that this amount – usually ₹100 – can be used to pay for orders. Customers beg to differ. Hundreds of complaints on the F*** Zepto subreddit suggest that users are unable to apply their free cash to pay for Zepto orders. When they do apply it, the full amount is never applied. For example, applying promotional cash of ₹100 will only reduce the total amount by ₹50 or less. Hidden fees: Another issue that is frequently highlighted on Reddit is the several hidden charges that send the bill amount skyrocketing. Users have pointed out that Zepto charges a 'Rain Fee' and a GST on top of the fee; a 'Cash Handling Fee' of ₹10, 'Item Handling Cost'; 'Convenience Fee'; 'Small Cart Fee'; 'Processing Fee' and more. Late deliveries: Many frustrated Zepto customers have taken to Reddit to vent about their deliveries being delayed by hours. MRP manipulation, lack of customer support, being unable to return rotten or expired items are other issues that customers have complained about. Leading players like Zomato's Blinkit and Swiggy's Instamart also have communities dedicated to them on Reddit. However, neither of them has a community dedicated exclusively to critcising their dark practices.
Time of India
30-05-2025
- Automotive
- Time of India
Ola Electric shares freefall; Nykaa Q4 profit doubles
Ola Electric shares freefall; Nykaa Q4 profit doubles Also in the letter: Ola Electric shares plummet 10% after Q4 losses double to Rs 870 crore; revenue slips 62% Financials: Operating revenue: Fell 61.8% year-on-year to Rs 611 crore, down from Rs 1,598 crore in the same quarter last year. Fell 61.8% year-on-year to Rs 611 crore, down from Rs 1,598 crore in the same quarter last year. Net loss: More than doubled to Rs 870 crore, compared to Rs 416 crore in Q4 of the previous fiscal. CEO speak: Market snap: It now trades well below its initial public offering (IPO) price of Rs 76, having lost over 40% of its value since its listing. The slide follows growing concerns over inflated sales claims, quality issues, and missing trade certificates across various retail outlets. Adding to the pressure, ET reported that Ola Electric has slipped to the third place in India's electric-two wheeler market in May, overtaken by legacy companies TVS Motor and Bajaj Auto. Rival watch: In Q4, Ather's revenue rose 29% to Rs 676.1 crore. Its losses narrowed 17% to Rs 234.4 crore amid rising volumes and improved margins. Nykaa Q4 profit doubles to Rs 19 crore; revenue up 24% Financials: Operating revenue (Q4): Rs 2,061.7 crore, up 27% from Rs 1,668 crore a year earlier. Rs 2,061.7 crore, up 27% from Rs 1,668 crore a year earlier. Net profit (Q4): Rs 19 crore, versus Rs 9 crore last year. Rs 19 crore, versus Rs 9 crore last year. Expenses (Q4): Rs 2,031 crore Rs 2,031 crore Revenue (FY25): Rs 7,950 crore, up 24% from FY24. Rs 7,950 crore, up 24% from FY24. Net profit (FY25): Rs 32 crore, up 105% Tell me more: Other highlights: GMV for Nykaa's core beauty vertical touched Rs 11,775 crore, growing 30% YoY. Sales from House of Nykaa nearly doubled over the past two years. Nykaa Fashion rebounded, with GMV up 18% YoY and revenue rising 19%. It launched a record number of global brands on its platforms, including Yves Saint Laurent and Armani Beauty. CEO's take: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Full Stack by Samidha Sharma: Founders are going direct — but startup rivalry is nothing new What happened: Zepto cofounder Aadit Palicha went public this week with serious allegations, accusing the CFO of a rival consumer internet firm of trying to sabotage Zepto's funding round. In a detailed LinkedIn post, Palicha claimed the rival executive triggered investor calls, shared doctored Excel sheets, and fuelled a bot-driven social media backlash to undermine the company. Why it matters: The big picture: Rivalries between startups during fundraises are not new. What's changed is how they're playing out — not in whispers, but on public platforms. Tactics such as investor smear campaigns and selective data leaks have long been employed. The difference now? Samidha's take: Zerodha Capital's FY25 net profit rises 78%, focus on scaling up credit play More details: Financials: Zerodha Capital has a net worth of Rs 175 crore, with an average ticket size of Rs 6 lakh. The company has raised approximately Rs 250 crore from banks and other non-banking financial companies (NBFCs), with a debt-to-equity ratio of 1.4. Also Read: India may float paper on crypto assets norms in June Framing rules: Mandate so far: In FY23, the government imposed a 30% tax on gains from virtual digital assets. It later required crypto exchanges to register with the Financial Intelligence Unit. The RBI has repeatedly urged caution over the potential misuse of cryptocurrencies. Ola Electric shares plummeted on the bourses on Friday after reporting widened losses in the March quarter. This and more in today's ETtech Top 5.■ Full Stack by Samidha Sharma■ Zerodha Capital's FY25 report■ India's crypto planBhavish Aggarwal, CEO, Ola ElectricShares of Ola Electric tumbled 9.7% to an intraday low of Rs 48.07 on the BSE on Friday, after the company reported its weak Q4 results for FY25 — its worst quarterly performance since it began delivering electric scooters in the earnings call, Ola Electric founder Bhavish Aggarwal called the March quarter a period of 'important learning and introspection.' He said the company is now more cautious in how it allocates capital for new products, with a renewed focus on strengthening internal processes, particularly in customer service, regulatory compliance, and risk the stock recovered slightly by market close, ending Friday at Rs 50.97, it was still down 4.26% for the Ola, its listed rival Ather Energy saw an improvement over its financials this Nayar, CEO, NykaaFSN Ecommerce Ventures, the parent company of beauty etailer Nykaa, posted a sharp rise in profit for the March quarter, driven by stronger sales and improving company's gross merchandise value (GMV) rose 27% year-on-year (YoY) in the March quarter. Profitability continued to improve, with earnings before interest, taxes, depreciation and amortisation (Ebitda) margin expanding to 6.5%.'On a net revenue basis, the beauty business has grown at 25% YoY. This reflects a strong performance across all of the beauty verticals, which include ecommerce, physical retail, our house of brands, as well as E-B2B business, which provides further distribution to retailers,' CEO Falguni Nayar said in a post-earnings call on Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship post shows how narrative control is becoming part of the modern founder's playbook, especially in high-stakes sectors like quick are naming names in real time, shaping the narrative before the stories are even battle for capital among high-growth startups is as personal as it is financial. Palicha's move wasn't just a callout — it was a strategic attempt to control the narrative before it turned on him. However, Indian founders would do better to focus on building durable businesses, rather than engaging in personal communication Capital, the non-banking finance arm of stockbroking firm Zerodha, reported a net profit of Rs 12.5 crore and revenue of Rs 36 crore for the financial year ended March more than doubled from Rs 17 crore in FY2024, while net profit rose 78% from Rs 7.2 crore. The company primarily offers credit products such as loans against securities, with stocks, exchange-traded funds (ETFs) and mutual funds accepted as collateral.'We have a bouquet of around 1,300 securities, and we offer loans to investors who have those securities,' said Abhilash SR, head, Zerodha government may release a discussion paper in June outlining policy framework options for crypto assets, amid growing mainstream acceptance of virtual paper will draw on the synthesis document prepared by the International Monetary Fund (IMF) and the Financial Stability Board (FSB), sources told us, adding that it is currently under assets have gained popularity in part due to US President Donald Trump's strong support for digital position on cryptocurrencies remains ambiguous.
Time of India
30-05-2025
- Business
- Time of India
Founders are going direct — but startup rivalry is nothing new
Founders are going direct — but startup rivalry is nothing new Sabotage is an age-old tactic Rivalry, rebranded Preempting, not just reacting Welcome to a new edition of Full Stack. This is the place where you'll find unfiltered commentary on all things keep the bouquets, brickbats and suggestions coming. You can reach me at and follow me on Elon Musk's X @samidhas Few days ago, Zepto cofounder Aadit Palicha took to LinkedIn to publicly accuse the CFO of a rival consumer internet firm of trying to sabotage Zepto's was detailed and direct— complete with claims of investor calls, doctored Excel sheets, and even bot-backed social media chatter to discredit the company which is in the middle of a fundraise and potential post was discussed across WhatsApp groups, founder and investor forums, and of course, in media saw it as a meltdown, others called it me, it underscored something deeper: the battle for capital among high-growth startups is as personal as it is financial — and increasingly, it's playing out in public. But let's be clear — founders trying to undercut rivals during a fundraise isn't new. It's just more visible investor whisper campaigns to selectively leaked numbers, this sort of interference has long been part of high-stakes corporate rivarly. What's changed is the simply chose to call it out — and to do so in real time, on a platform like LinkedIn, rather than waiting for backchannel damage to this week, The Wall Street Journal reported that Elon Musk had privately tried to influence the multibillion-dollar AI supercomputing project Stargate, spearheaded by Sam tweets. No memes. Just classic playbook tactics — this time at trillion-dollar you've been in this business long enough, you'll remember how Travis Kalanick's Uber practically wrote the ops manual for startup India, Flipkart vs Amazon vs Snapdeal, Ola vs Uber, Swiggy vs Zomato — every funding milestone came with a shadow narrative of investor blocks and strategic different in 2025 is the speed — and source — of counter-narratives. Founders are now their own comms heads. And platforms like LinkedIn and X are where narrative wars play post wasn't just about calling out one executive — it was about taking control of the story before someone else could shape a strategy we've seen in Silicon Valley too. When The New York Times was preparing a critical profile on Bryan Johnson, the biohacker behind Blueprint, he got ahead of it. He framed his anti-ageing regimen as 'scientific progress under scrutiny' rather than a vanity project. By the time the article dropped, his version had already made the this new media ecosystem, investors and journalists are no longer the sole gatekeepers. Founders today are managing perception as much as performance. That means going direct — before rivals or reporters let's not over-inflate every act of rivalry into a scandal though. If a rival startup is trying to talk down your deal or cast doubt on your metrics, it doesn't always require a public maturity of founders should reflect in knowing when to hit back — and when to move Elon Musk has made going direct fashionable but not everything he does needs to founders would do better to focus on building durable businesses — not personal comms wars. A strong narrative helps. But strong numbers close the Sharma is Editor - ETtech. She's been covering the tech and new-age digital economy for over a decade, and has had a ringside view of the industry and its people.
