From The Streets Of Mumbai To A Rs 10,000 Crore Startup: The Inspiring Journey Of Zepto Founder Adit Palicha
The late teens and early 20s are a phase of a person’s life where they are still mulling their career options and maybe still indecisive. In contrast, 22-year-old Aadit Palicha is the CEO of the online grocery store Zepto. But that is not the most striking part. The most striking part is that Zepto was introduced only in 2021 after the COVID-19 pandemic, which means the company went from absolute nil to multi-crore in a matter of months.
The Standford dropouts are pivotal in shaping India's Q-commerce Industry through their unique business model. Founded in 2021 by Aadit Palicha and Kaivalay Vohra, Zepto offers quick commerce service, delivering online groceries, fruits, vegetables, electronics, and many more in a few minutes.
Who is Adit Palicha founder of Zepto?
Quick-commerce services have boomed lately in India, with rivals like Blinkit and Swiggy Instamart battling closely for the top spot in the special market. The idea of delivering orders in just 10 minutes is attracting a lot of customers, especially in big cities, where services arrive at your door in no time. In this tough market, a new startup called 'Zepto' is not only finding its footing but also showing real promise to take over this specific market.
Aadit Palicha, born in 2001 in Mumbai, started his business journey at the age of 17. He founded a startup called GoPool before heading to Stanford University in the US to study computer engineering. Despite being in the middle of his studies, he decided to leave the program to focus on his company. It was a bold move, but luck was on his side.
In April 2021, Aadit and his friend Kaivalya Vohra launched the online platform Zepto for grocery delivery. Within just one month of operation, the startup was valued at $200 million. Aadit established this company to provide grocery deliveries within 10 minutes amidst the Covid-19 crisis, and his concept was incredibly successful.
Palicha's before Zepto journey
Palicha was studying for a bachelor's degree in Computer Science at Stanford University when he made the decision to drop out and pursue his own startup. His first venture, known as GoPool, was built when he was just 17 years old.
Afterward, he and Kaivalya launched the precursor to Zepto, called 'Kiranakart'. It was introduced in 2020 during the COVID-19 pandemic. However, according to his account, they struggled to find a strong product-market fit with KiranaKart. As a result, they decided to shut down operations and start Zepto. The rest, as they say, is history.
Zepto propels Palicha into the spotlight of fame and success
Zepto founder Aadit Palicha has now become a familiar name in the startup scene, following his company's achievement of becoming the first unicorn (a company valued at $1 billion) in 2023. According to reports from ET, Zepto is currently in discussions for multiple rounds of funding, aiming to raise approximately $300 million from global investors. Once the funding rounds are completed, Zepto's valuation is expected to soar to around $2.5-3 billion.
The model developed by the Nexus Ventures-backed unicorn is significantly different from the conventional e-commerce model employed by companies like Amazon and Flipkart in India. Unlike these companies, which manage their marketplaces directly, Zepto has implemented a unique backend structure.
Adit Palicha's net worth
According to the IIFL Wealth Hurun India Rich List, Aadit Palicha has a net worth of Rs 1,120 crore.
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What makes Zepto's unique?
What sets Zepto apart is the founders of the delivery app, who have become notable figures in the Indian startup scene. These Stanford dropouts are playing a crucial role in shaping India's Quick Commerce (Q-commerce) Industry with their distinctive business approach.
Established in 2021 by Aadit Palicha and Kaivalya Vohra, Zepto provides rapid commerce services, delivering a variety of products including online groceries, fruits, vegetables, electronics, and more within minutes.
What is the operational model of Zepto?
According to an ET report, Zepto operates through an innovative online franchise model. Essentially, Zepto licenses out its platform to entities like Geddit Convenience, Drogheria Sellers, and Commodum Groceries. These licensees, along with Zepto's founders' company, Kiranakart Technologies Pvt Ltd, collectively manage the platform.
Here's how it works: Kiranakart Technologies, acting as a B2B wholesale company and tech service provider, supplies goods to Geddit and other licensed seller entities. These sellers then list and sell products on the Zepto app. Additionally, they also oversee the dark stores leased out by Kiranakart Technologies. This setup not only allows Zepto to comply with e-commerce regulations but also enables efficient operation of its platform, offering customers a seamless shopping experience.
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