The Deepinder Goyal interview; Trump boosts Indian crypto

Happy Tuesday! In an exclusive interview with ETtech, Zomato’s CEO Deepinder Goyal spoke about the challenges of food delivery, cash burn in quick commerce, and more. This and other stories in today’s ETtech Morning in the letter:■ Layoffs at Ola Electric■ Fintech firm Mintoak makes first acquisition■ More on Infosys layoffs rowSpurring food delivery growth, keeping discipline intact for Blinkit key: Zomato CEO 118695069Deepinder Goyal, founder and CEO of Zomato, which won the Emerging Company of the Year award at the ET Awards for Corporate Excellence 2024, highlighted systemic issues with food delivery growth while emphasising that its quick commerce unit, Blinkit, must maintain both growth and investment delivery growth: Food delivery has multiple systemic issues that must be solved. Once we solve for those, the interests of Zomato, restaurants and the customers will align towards growth. I hope we launch some of these things in the next three months. Qcomm rush: On the quick commerce side, we've been doing well; it's about ensuring that the discipline of execution stays intact in the team… our burn rate is 2-3% of the sector while our category share would be 40-45%. Cash burn: We think the total burn for all companies in quick commerce is around Rs 5,000 crore per quarter, conservatively speaking. More than half of this is by Zepto…compared to this, we’re burning very low numbers. Last quarter, Blinkit burned around Rs 35 crore per month on average.