look news india
News India Live, Digital Desk: CEO vs Cfo Clash: Adit Palicha, CEO and co-founder of quick delivery platform Zepto, has alleged that the Chief Financial Officer (CFO) of the rival company has been campaigning against him for the past few days.
In LinkedIn Post, Palicha said that the spam campaign includes “calling our investors to make baseless allegations about us without any empirical evidence, giving false numbers/excel sheets on Zepto through sources known to journalists and paying bottles on social media to spread negative tale”.
Palicha said, “Clearly, the episode is below the expected level from the CFO of a high -quality company, and it makes it clear that they are afraid of how fast the EBITDA of Zepto is improving.”
He further said that in Zepto May 2024, about 750 crore GDP (GOV) will increase from per month to 2,400 crore GOV per month in May 2025.
“The definition of Gov for us includes fruits and vegetables on the sales price and also includes advertising revenue. Our Ebitda has improved 20 percent marks (2,000 basis points) from January 2025 to May 2025 and is reaching close to the single-class.
Palicha stated that he hoped that most of his dark stores would be fully Ebitda positive by the next quarter (including backnd supply chain costs, customer support, final miles and all fixed/variable dark store costs).
He said, “By the beginning of this quarter, we have a net cash of about Rs 7,445 crore in the bank (the bank statement has been fully matched). With our current cash burn trajectory, we have many years runway.”
He then hoped that “this CFO would close this activity”.
“I have no problem with healthy/aggressive competitive interactions, but the lie is not acceptable. To be honest, your call investor is making it clear to the community that we are a strong competitor. The best for all of us is to focus only on implementation,” said Palicha.
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