Being five years old, playing with toys, while someone out there is building a company that’ll change how India eats. That’s the scene Aadit Palicha, the 22-year-old co-founder of Zepto, painted when he took a swing at Zomato CEO Deepinder Goyal this week. On Tuesday, a war of words erupted in India’s quick commerce world, all sparked by Goyal’s bold claim that Zepto’s burning cash faster than a bonfire on Holi. Palicha didn’t let it slide—he hit back, calling it “verifiably untrue,” and now everyone’s watching to see who’s got the real numbers. This isn’t just a startup spat; it’s a tale of ambition, rivalry, and a young dreamer stepping into the ring with a seasoned champ.
A Five-Year-Old’s World Meets a Food Revolution
Let’s rewind to 2008. Aadit Palicha was a kid in Mumbai, probably chasing kites or munching on snacks, when Deepinder Goyal kicked off Zomato. Back then, it was called FoodieBay—a scrappy site helping people find restaurant menus. Goyal, a brainy IIT grad, turned it into a food delivery giant over the years, serving millions across India by 2025. Fast forward to Palicha—by the time he was a teen, he’d ditched Stanford to chase his own dreams, co-founding Zepto in 2021 with his buddy Kaivalya Vohra. At just 19, he was already shaking up the quick commerce game, promising groceries in 10 minutes flat.
On Tuesday, Palicha dropped a bombshell on LinkedIn that tied those timelines together. “Deepinder started Zomato when I was five years old,” he wrote, tipping his hat to Goyal as a “role model” for India’s startup scene. But the respect came with a punch: he was calling out Goyal for a claim that’s got the industry buzzing. It’s like a kid who grew up idolizing a cricket star now stepping onto the pitch to challenge him—except this game’s about money, not runs.
The Cash Burn Fire Ignites
Here’s how it went down. In an interview with The Economic Times on March 4, Goyal threw a curveball. He said quick commerce companies—those speedy delivery startups like Zepto and Zomato’s own Blinkit—are burning through ₹5,000 crore every quarter. That’s a jaw-dropping pile of cash—enough to make your head spin. But then he pointed a finger: “Substantially more than half of this is by Zepto,” he claimed, pegging their burn at ₹2,200-2,300 crore last quarter. Meanwhile, he bragged that Blinkit, Zomato’s quick commerce arm, was sipping cash lightly at just ₹35 crore a month, holding a 40-45% market share. “We’re burning 4% of that and still growing,” Goyal said, smirking at the math.
Palicha wasn’t having it. Hours later, he fired up LinkedIn with a post that was polite but sharp. “This statement is verifiably untrue,” he wrote, promising the real numbers would shine when Zepto files its financials publicly. “I know Deepinder has only good intentions,” he added, suggesting it might’ve been a slip-up or a misquote. But the gloves were off—he wasn’t letting the claim stand unchallenged. It’s like a young chef telling a master cook his recipe’s off, all while keeping a smile.
A Tale of Two Titans
This clash isn’t just numbers—it’s a showdown of paths. Goyal’s a veteran—Zomato’s been around for 17 years, evolving from a menu guide to a food delivery behemoth with Blinkit now racing in quick commerce. He’s 42, seasoned, and knows the startup grind inside out. Palicha? He’s a prodigy—barely old enough to drink legally, yet running Zepto, a unicorn valued at $3.6 billion after raising $665 million last June. While Goyal’s built a legacy, Palicha’s sprinting to catch up, fueled by ambition and a knack for grabbing headlines.
Zepto’s rise has been wild. From zero to a multi-crore player in months, it’s now neck-and-neck with Blinkit and Swiggy’s Instamart, boasting 29% of the market’s monthly active users by January, per some reports. Palicha’s betting big—over $1.3 billion raised in a year, with plans for an IPO in 2025. But big bets mean big spends, and that’s where Goyal’s jab stings. Is Zepto really torching cash to win, or is Goyal spinning a tale to make Blinkit look lean and mean?
The Numbers Game Heats Up
Let’s dig into the stakes. Quick commerce is India’s hot new thing—groceries, snacks, even gadgets delivered in minutes. It’s a gold rush, but it’s pricey. Dark stores—those mini-warehouses—need setting up, delivery riders need paying, and customers need luring with discounts. Goyal’s saying the industry’s bleeding ₹5,000 crore a quarter—conservatively. If Zepto’s half of that, it’s a staggering ₹2,500 crore-plus burn, while Blinkit’s sipping at ₹105 crore for three months. That’s a gap wider than the Grand Canyon.
Palicha’s not blinking. “The truth will come out,” he promised, hinting Zepto’s losses aren’t what Goyal’s painting. Back in December, he said Zepto’s profit-after-tax-to-revenue ratio jumped from -63% in FY23 to -28% in FY24—still red, but shrinking. Over 70% of their stores are EBITDA-positive, and new ones hit that mark faster now—eight months versus 23 a couple of years back. It’s a hustle toward profitability, but at what cost? Reports peg Zepto’s monthly burn at ₹300 crore by October, up from ₹35-40 crore in May—big, but nowhere near Goyal’s quarterly claim if annualized.
A Respectful Rumble
What’s cool about this fight is the vibe. Palicha didn’t trash Goyal—he called him a hero. “I’ve read all his blogs,” he wrote. “It’s a privilege to learn from and compete with Zomato.” He’s keeping it classy, dodging a mud-slinging match. “We won’t comment again to avoid a back-and-forth,” he added, leaving the ball in Goyal’s court. Goyal hasn’t replied yet—maybe he’s mulling it over, or maybe he’s letting the numbers talk when Zepto’s books drop.
The industry’s watching. Blinkit’s got 1,000 stores, aiming for 2,000 by next December, and Zomato just pumped ₹1,500 crore into it. Zepto’s scaling too—hundreds of new stores each quarter. Both are giants, but their styles clash: Goyal’s steady build versus Palicha’s all-in sprint. Fans on X are split—some cheer Palicha’s guts, others back Goyal’s experience. “Aadit’s handled it maturely,” one post said. Another jabbed, “Deepinder’s got the edge—Zomato’s been there, done that.”
What’s Next in This Startup Saga?
This isn’t just a CEO spat—it’s a peek into quick commerce’s future. India’s urban shoppers love the speed—42% use it for urgent buys, 65% for essentials—but it’s a cash-hungry beast. Zepto’s eyeing an IPO, shifting its base from Singapore to India to win trust. Blinkit’s pushing to dominate, with Zomato’s muscle behind it. Who’ll crack profitability first? Palicha says Zepto’s on track for FY26; Goyal’s betting Blinkit’s lean burn pays off sooner.
For now, it’s a cliffhanger. Palicha’s five-year-old self couldn’t have dreamed he’d be sparring with Goyal two decades later. As Zepto’s financials loom, the truth will spill—burn or no burn. Will the kid outsmart the vet, or will experience trump youth? India’s startup world is glued to this one. What’s your bet—who’s got the winning recipe?
