05 April 2024 – Within only 29 months of its founding, Indian quick-commerce firm Zepto has crossed the $1 billion annualised sales milestone, according to a report published by Goldman Sachs on Thursday, which cited Zepto management.
Along with Blinkit, owned by Zomato, and Swiggy Instamart, financed by SoftBank, the company is also growing market share, now “close to that of the number 2 player,” the article said. Zepto, which became a unicorn last year, has investors including Lachy Groom, Glade Brook Capital, StepStone Group, and YC Continuity.
Zepto is a company that operates in seven Indian cities. It provides consumers with groceries and electronics delivery services via its network of over 300 dark shops, sometimes known as micro-fulfillment centres. According to its management, the firm handles over 550,000 orders per day. It guarantees to deliver things to clients within 10 minutes after making an order, which it disclosed to the investment bank.
Conclusion
In India, quick-commerce businesses are becoming increasingly prevalent. They are challenging e-commerce behemoths like Flipkart and Amazon, as well as conventional supermarkets and local shops.
