Zepto crosses Rs 1,000 Cr in annualised advertising revenue: CEO Palicha
Zepto and other quick commerce operator have been looking to diversify their revenue streams as competition in the sector heats up.
Quick commerce unicorn has crossed Rs 1,000 crore in annualized advertising revenue, amounting to Rs 83 crore per month, CEO and Co-Founder Aadit Palicha shared in a LinkedIn post.
"It's been less than 3 years since we launched our Ads Business, and the team we put together has been executing like a machine. I'm honestly grateful to be working and learning from some of the smartest operators in Internet India today,” Co-founder and CEO Aadit Palicha in a LinkedIn post.
This comes days after Zepto launched Jarvis, an in-house advertising service for brands and sellers on the platform. The solution aims to help small and large brands increase brand salience and platform sales by running targeted and optimised campaigns.
Jarvis has already delivered over 15 billion ad impressions, generating over 4% of the advertising income as a percentage of sales. It provides brands with a real-time analytics platform, tracking spending and performance with sub-second query times.
Quick commerce platforms have been looking to diversify their revenue across advertising, loyalty programs and private labels as competition in the quick commerce race heats up.
Last week, Zepto closed an extended funding round, its third in the last six months, of $350 million domestic investors. The round was led exclusively by Motilal Oswal;s Private Wealth division along with investment from Indian HNIs and family offices. The quick commerce incumbent has raised $1.35 billion in fundraisers this year.
Earlier today, quick commerce peer Blinkit’s parent Zomato closed a $1 billion financing through qualified institutional placements, mainly from domestic mutual funds.
Edited by Jyoti Narayan