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Zepto has more than doubled its valuation to $3.6 billion from $1.4 billion in less than a year .
The Mumbai -based startup sells and delivers everything from grocery items to electronic gadgets within 10 minutes to consumers in urban Indian cities.
The rapid-delivery model is thriving in India even as most startups in the space have cratered in developed markets.
“In our view, it’s second to none.” Some industry analysts predict that quick commerce companies will significantly erode the market share of major e-commerce players like Amazon and Flipkart . Jubas said he subscribes to this thesis, but it’s up to Zepto ’s management on how it intends to make a play with that. According to Goldman Sachs , the total addressable market in grocery and non-grocery for quick commerce companies in the top 40-50 cities is about $150 billion ..
VR Score
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