Public markets don’t reward convenience alone.
They ask:
• Are unit economics positive?
• Is demand subsidy-driven?
• Does scale reduce losses or just slow them?
That’s the real test for quick commerce.
As a customer of Zepto, would you invest in its IPO?
As customers, many of us love:
• Instant grocery delivery
• 10-minute fulfilment
• Discounted prices
• “Everything is a tap away”
Quick commerce has changed urban behaviour. @ZeptoNow@letsblinkit
But as investors, the lens has to be very different.
Here are the reported numbers:
• FY24: Revenue ₹4,223.9 cr | Loss ₹1,217.7 cr
• FY25: Revenue ₹9,668.8 cr (129% YoY) | Loss ₹3,367.3 cr (177% YoY)
@Qualcomm’s IP leadership is built by design.
• Valuation: ~$190B
• Annual revenue: ~$34–44B
• Annual R&D spend: ~$9B
→R&D budget: ~20–25% of revenue, every year
This is decades of scientific rigor + belief in R&D.
@qualcomm_in@QCOMResearch
Quick commerce is fast but at what cost?
Profit margins in quick commerce have fallen sharply - now roughly on par with kirana stores
What this means for businesses today
✅ Growth doesn’t equal profitable growth
✅ Platform visibility is now an architectural cost.
India could become Net Importer of #AI - a threat
▪️Loss of data sovereignty
▪️Limited accountability in AI-driven decisions
▪️Weak leverage in mission-critical services