Zepto CEO accuses rival company’s chief financial officer of targeting them with a smear campaign

In a LinkedIn post, Palicha said the spam campaign includes “calling our investors to make wild allegations about us with no empirical evidence, giving out false numbers/Excel sheets on Zepto through sources known to journalists, and paying bots on social media to spread a negative narrative”

New Delhi: Aadit Palicha, the CEO and Co-founder of quick delivery platform Zepto, has alleged that the chief financial officer (CFO) of a rival company is running a smear campaign against them over the past few days.

In a LinkedIn post, Palicha said the spam campaign includes “calling our investors to make wild allegations about us with no empirical evidence, giving out false numbers/Excel sheets on Zepto through sources known to journalists, and paying bots on social media to spread a negative narrative”.

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He, however, did not reveal the name of the rival firm. In the quick commerce space, Zepto competes with Blinkit (owned by Eternal, which was earlier Zomato), Swiggy Instamart, Flipkart Minutes and Tata BigBasket, among others.

“Candidly, this episode is below the stature expected of the CFO of a high-quality company, and makes it obvious that they are starting to get nervous about how fast Zepto’s EBITDA is improving,” said Palicha.

He further stated that Zepto has grown from approximately 750 crores of gross order value (GOV) per month in May 2024 to 2,400 crores of GOV per month in May 2025.

“Our definition of GOV has Fruits and Vegetables at selling price and includes Ad Revenue. Our EBITDA has improved by 20 absolute percentage points (2,000 basis points) from January 2025 to May 2025, and is approaching single-digit territory. Our cash burn is down approximately 65 per cent over that same period,” said Zepto’s CEO.

Palicha said they expect to have the vast majority of their dark stores fully EBITDA positive (including backend supply chain costs, customer support, last mile and all fixed/variable dark store costs) by next quarter.

“As of the beginning of this quarter, we have approximately 7,445 crores of Net Cash in the bank (fully reconciled to bank statements). With our current cash burn trajectory, we have many years of runway,” he mentioned.

He then hoped that “this CFO in question stops this activity”. “I’m okay with healthy/aggressive competitive talk, but lies are not acceptable. Frankly, these calls from you are only making it clearer to the investor community that we are a strong competitor. It’s best for all of us to simply focus on execution,” Palicha added.