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Zepto Grapples with Pricing Glitch Amidst Rapid Expansion

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Preeti Bali / 8:11 am / July 11, 2024

Quick commerce platform Zepto faced social media backlash this week after a technical error caused inflated vegetable prices. The issue surfaced late on July 8th when a user shared a screenshot showing coriander priced at a staggering Rs 131 per 100 grams. This post garnered significant attention, with users expressing disbelief and comparing Zepto’s prices unfavorably to other vendors.

Zepto Acknowledges and Addresses the Glitch

Answering quickly to the public clamor, Zepto, under the initiative of Aadit Palicha, affirmed a framework glitch as the guilty party at the cost errors. The organization guaranteed its clients that the issue had been instantly settled.

“A sad specialized misfire impacted the valuing of specific items on our foundation,” made sense of a Zepto representative. “We earnestly apologize for any disarray or burden this might have caused our esteemed clients.”

Financial Growth Despite Hiccup

In spite of this impermanent mishap, Zepto keeps on encountering huge advancement in the speedy business industry. In June, the organization got financing of $665 million, moving its valuation to $3.6 billion. Ongoing reports recommend an extra $400 million raised, further swelling their valuation to a faltering $4.6 billion. Zepto flaunted significant development in its yearly gross product esteem (GMV), outperforming the $1 billion imprint. Moreover, the organization detailed a huge part of its stores accomplishing functional benefit by May 2024.

Aggressive Expansion Plans on the Horizon

Looking towards the future, Zepto maintains its focus on ambitious expansion plans, aiming to double its store count to 700 by the end of the fiscal year. This expansion strategy mirrors similar approaches adopted by competitors like Blinkit and Swiggy’s Instamart, reflecting the intense competition and robust growth within the quick commerce sector.

 

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