Zepto pivots to marketplace model ahead of ₹8,010-cr IPO, betting commissions and ads can crack profitability
Zepto's updated DRHP reveals a shift from inventory-led sales to a marketplace play built on commissions, seller fees and ads. FY26 revenue doubled to ₹22,624 crore from ₹11,110 crore, but losses widened to ₹5,905 crore. Ad revenue jumped 151% to ₹1,636 crore — the clearest margin lever.
Zepto's UDRHP for its ₹8,010-crore IPO reveals a pivot to a marketplace model, shifting from inventory-led sales to commissions, ads and seller fees. FY26 revenue doubled to ₹22,624 crore but losses widened to ₹5,905 crore.