Zepto approaches $4 billion in annualised GOV

Quick commerce business Zepto is approaching $4 billion in annualised gross order value following approximately 300% year on year growth, its CEO Aadit Palicha has announced. 

“Zepto is getting close to $4 billion in annualised GOV, which represents around 300% year on year growth (and around 30% growth since my last update in January),” wrote Aadit Palicha in a post on Linkedin. “More importantly, we have reduced EBITDA (excluding ESOPs) and OCF burn by 50% even as we grew meaningfully during the last three months.”

The business defines GOV includes products at selling price and also includes ancillary sources of income such as subscription fees and advertising. Zepto is also considering a secondary share sale which could see shareholders sell off up to $250 million in equity, ET Tech reported. 
 
“We are confident in being within touching distance of EBITDA (excluding ESOPs) and OCF breakeven within a few months (with a large net cash buffer still on balance sheet),” wrote Palicha. “Our newly launched dark stores continue to track towards EBITDA breakeven, just as the dark stores we launched over the last three years did in our previous store expansion cycles.”