06 November 2024
NEW DELHI: Quick commerce startup Zepto which aims to launch an initial public offering (IPO) in the next two to three years on Wednesday said that many of its over 200 dark stores have turned fully profitable. The company which was one of the initial few players to bet on the delivery of grocery and everyday essentials under 30 minutes claimed that its business has grown four fold in the last one year. The development comes at a time when a funding slowdown and strict investor vigilance has nudged startups to rein in costs, reduce burn and demonstrate a path to profitability.
NEW DELHI: Quick commerce startup Zepto which aims to launch an initial public offering (IPO) in the next two to three years on Wednesday said that many of its over 200 dark stores have turned fully profitable. The company which was one of the initial few players to bet on the delivery of grocery and everyday essentials under 30 minutes claimed that its business has grown four fold in the last one year. The development comes at a time when a funding slowdown and strict investor vigilance has nudged startups to rein in costs, reduce burn and demonstrate a path to profitability.
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