How was Zepto able to raise such a large round when funding is hard to come by?
Because of business performance. We are growing 140 per cent year-on-year and have gone from about $500 million in sales to well over $1 billion over around three quarters. We are the fastest company in internet history to hit this milestone.
How do you plan to use the money?
We are in a healthy place even with the cash we have in the bank. We look at this more as pre-IPO financing. We are confident the IPO will happen in 2025.
Some of the equity will be used in capex and expansion into new markets. However, we are generating meaningful profit from mature stores. The idea is to reinvest the profits we are making from these stores in newer businesses. Most of the investment in new stores, new markets, or customer acquisition will come from our existing profits.
How close is Zepto to achieving profitability?
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Denne historien er fra June 22, 2024-utgaven av Business Standard.
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