Zomato, Swiggy call claims of antitrust probe by CCI as ‘misleading’
Zomato addressed the claims of the antitrust investigation by the Competition Commission of India (CCI) into its business practices, and called them “misleading”.
Zepto Co-founder and CEO Aadit Palicha on Sunday said they are ready to turn the quick commerce platform into a $50 billion company.
The Zomato-owned Blinkit’s rival had just raised $665 million at a $3.6 billion valuation in a highly oversubscribed round. The new funding came just nine months after the company raised $235 million at a $1.4 billion valuation.
“Reflecting on the past 3 years of building Zepto: the story of 2 kids dropping out of college and starting a company that is worth 30,000 crore in just 3 years is only possible in one country in 2024: India,” Palicha wrote on X.
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He further said they are ready to “dedicate ourselves to building Zepto into a world-class $50B Indian company that employs lakhs – as a way to give back to this country that has given us so much”.
Founded in 2021 by Stanford University dropouts, Aadit Palicha and Kaivalya Vohra, Zepto became one of India’s fastest-growing internet companies. Headquartered in Mumbai, Zepto delivers over 10,000 products, ranging across categories in 10 minutes.
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