When the founders of Zepto Kaivalia Vohra And the Adit Palecha Hailed as the youngest (both 20-somethings!) self-made and youngest wealthy individuals in India, according to the IIFL Wealth Hurun India Rich List 2022, they have turned out to be overnight role models for many in the country.
Kaivalia said, speaking to host Beverly White on Day 3 of The Week tech sparks 2022, India’s largest startup technology conference.
Express commerce company Zepto started operations in Mumbai in April 2021 and has seen exponential growth, with presence in 10 cities in the form of dark shops or small warehouses – Mumbai, Pune, Bengaluru, Delhi, Noida, Gurugram, Ghaziabad, Chennai, Hyderabad, and Kolkata.
They say the best founders have a real conviction in their idea, and there are no two ways about it with Kaivalya and Aadit. “The reason we went so aggressively is because we had a lot of conviction about the product. We thought the product was going to be exciting and would change the way people buy groceries today, so rather than our personal progress, we’re more interested in how we can make Zepto a bigger player in the industry.” people’s minds,” Kaivalya said.
On being young founders who don’t really have decades of experience to draw from, Aadit said it’s helping to build a product that no one has built before in an industry that has emerged over the past 12 to 18 months.
“We realize that to master this model and this category, we need a combination of two decades of experience, of which our leadership team of specialists has decades of experience in supply chain, growth, marketing, finance, and first principles of thinking, which we bring with our fresh perspectives.”
According to consulting firm RedSeer, India’s express commerce market is expected to grow 15-fold by 2025, reaching a market size of nearly $5.5 billion. On this battlefield, Aadit believes the winners will be people who are able to increase operational leverage. on the back end.
It is well known that fast-track players in the industry have to contend not only with increasing competition but also with criticism from all quarters that the rush to emerge market winners may jeopardize the safety of delivery partners.
“The reality is that our business model is built on short distances, not high speeds,” said Adit, adding that their pick-up points across the country are placed in dense populations, with the average distance of a delivery person being 1.7 to 1.8 km.
Regarding where the fast-food industry is heading in the next 10 years, Aadit said there is potential to build a horizontal fast-food and e-commerce business, and the grocery itself is bigger than any other e-commerce category combined.
From being teenage entrepreneurs who left Stanford to leading players in the fast trade industry, Kaivalya and Aadit have written an entrepreneurial success story.
When asked about their mantra for personal success, Kaivalya was eager to offer advice, noting that they would be more than willing to give it in five to 10 years, but, “Sticking to it is something we learned very early on. Entrepreneurship is a journey where the heights are very high.” , and the lows are really low. There were many opportunities for both of us to say, let’s pack up and go back to college, and live a very comfortable life, but we stuck with it.”
The word you gave advice to businessmen? “If you want to start building a company, build it for the right reasons.” For someone who forgot their phone charger on the way to the airport for that conference, which was delivered through their startup, this tip rings true.