“You're totally out of your mind. This is never going to work."

"你完全失去了理智。 這永遠不會成功。"

Yet in less than a year, these two Stanford University dropouts have managed

然而，在不到一年的時間裡，這兩個斯坦福大學的輟學生已經設法

to prove these early doubters wrong.

以證明這些早期的懷疑者是錯誤的。

At that point, we had already scaled to a couple million dollars of annualized revenue.

在那個時候，我們已經擴大到幾百萬美元的年收入。

We said here's an opportunity to, raise a large amount of capital,

我們說這是一個機會，可以籌集大量的資金。

it's got clear product market fit.

它有明確的產品市場適應性。

How many people in their lifetimes get an opportunity

有多少人在他們的一生中能有機會

to build a potential generational company?

來建立一個潛在的代工公司？

And we figured that was just sort of a more exciting opportunity

我們認為這只是一種更令人興奮的機會。

than studying in an elite University.

比在精英大學學習更有意義。

And their leap of faith has so far paid off.

到目前為止，他們的信仰飛躍已經得到了回報。

The 19-year-old founders intend to change the way groceries are delivered in India.

這名19歲的創始人打算改變印度的食品雜貨配送方式。

Their company is now valued at $900 million.

他們的公司現在的估值為9億美元。

Aadit Palicha and Kaivalya Vohra are the founders of Zepto,

Aadit Palicha和Kaivalya Vohra是Zepto的創始人。

a start-up from India that promises to deliver groceries in less than 10 minutes.

一家來自印度的初創公司，承諾在10分鐘內提供雜貨。

They are just one of many businesses to join the wave of what's known as quick or instant commerce.

他們只是加入所謂的快速或即時商務浪潮的眾多企業之一。

The childhood friends founded the business in July 2021,

這對兒時的朋友在2021年7月創立了這家企業。

right in the middle of the Covid-19 pandemic.

就在Covid-19大流行病的中間。

Operations started two months later.

兩個月後開始運作。

At the time, there was a surge in demand for delivery services

當時，對快遞服務的需求激增

as many stayed home during nationwide lockdowns.

因為許多人在全國範圍的封鎖期間呆在家裡。

Zepto says it is now adding 100,000 new users daily,

Zepto說它現在每天增加10萬名新用戶。

even since its launch one year ago.

甚至自一年前推出以來。

Making it one of the fastest growing quick commerce apps in India.

使其成為印度發展最快的快速商務應用之一。

Grocery is such a high frequency category.

雜貨店是這樣一個高頻率的類別。

It's not a purchase that you make once a month, or, you know, once every two, three months,

這不是你每月一次的購買，或者，你知道，每兩三個月一次。

you're making grocery purchases, at least in India, multiple times a week, right.

至少在印度，你每週要購買多次食品，對吧。

And so, when you're engaging in a chore, that's very high frequency,

是以，當你在從事一項雜務時，那是非常高的頻率。

the friction of getting that chore done, is paramount.

完成這項工作的摩擦，是最重要的。

The idea for Zepto came while they were stuck inside their homes in Mumbai during a lockdown.

Zepto的想法是在他們被封鎖時被困在孟買的家中時產生的。

At that time, you know, online groceries will take six, seven days to deliver,

那時，你知道，網上的雜貨需要六、七天才能送達。

offline options were practically shut down or unavailable, right?

線下選擇幾乎被關閉或無法使用，對嗎？

So, it was incredibly difficult for us to get groceries.

是以，對我們來說，要買到雜貨是非常困難的。

And we had sort of similar conversations with our neighbors

我們與鄰居們也有類似的對話

that complained about pretty much the same problem.

抱怨幾乎是同樣問題的人。

That's when we said, hey, you know, we love building.

這時我們說，嘿，你知道，我們喜歡建築。

We've done that, sort of growing up as kids as well,

我們也做過這樣的事，有點像小時候的成長。

why don't we try building a solution for the folks in our neighborhood?

我們為什麼不嘗試為我們附近的人建立一個解決方案？

Aadit and Kaivalya are no strangers to the instant grocery delivery business.

Aadit和Kaivalya對即時雜貨配送業務並不陌生。

In 2020, they started KiranaKart, offering supermarket delivery services in Mumbai.

2020年，他們創辦了KiranaKart，在孟買提供超市送貨服務。

During KiranaKart, we had been delivering roughly around 45-minute type delivery timeframes, right.

在KiranaKart期間，我們一直在提供大約45分鐘類型的交付時間，對吧。

But some people that were getting their deliveries and a 10-15 minute timeframe.

但有些人得到了他們的交貨和10-15分鐘的時間框架。

The customer facing metrics in terms of their retention and how much they liked the platform

面對客戶的指標，即他們的保留率和他們對平臺的喜愛程度。

was significantly higher for those people that got the deliveries in that 10 to 15 minute timeframe,

對於那些在10到15分鐘時間內收到快遞的人來說，這一點明顯更高。

which is why we said, "Hey, look, maybe there's some value in exploring that."

這就是為什麼我們說，"嘿，看，也許有一些探索的價值"。

In order to fulfill grocery orders in under 10 minutes, the duo established a network

為了在10分鐘內完成食品雜貨訂單，兩人建立了一個網絡

of dark stores, or microdistribution hubs, across cities.

遍佈城市的黑店，或微型分銷中心。

We design our network across the city, to make sure that our points of pick up

我們設計了整個城市的網絡，以確保我們的接貨點

are very close to population clusters in a specific neighborhood.

是非常接近特定社區的人口集群的。

And what ends up happening is that the average distances of our deliveries are so short that

而最終發生的情況是，我們交貨的平均距離是如此之短，以至於

we're able to get deliveries done consistently in 10 minutes.

我們能夠穩定地在10分鐘內完成交付。

Right now, the average distance of Zepto delivery is between 1.7 kilometers to 2 kilometers,

現在，Zepto的平均配送距離在1.7公里至2公里之間。

where food delivery or any other sort of hyperlocal delivery would be as high as

在那裡，食品遞送或任何其他類型的超在地遞送將高達

2.5 times larger than that or longer than that.

比這大2.5倍或比這長。

Today, Zepto operates hundreds of dark stores across 10 cities in India,

今天，Zepto在印度的10個城市經營著數百家黑店。

with tens of thousands of delivery drivers at work.

與數以萬計的送貨司機在工作。

The start-up says it is currently delivering 90 to 95% of its orders in 5 to 20 minutes.

這家初創公司表示，目前它有90%至95%的訂單在5至20分鐘內交付。

But Zepto isn't the only quick commerce start-up in India,

但Zepto並不是印度唯一的快速商務創業公司。

and competition is heating up both domestically and globally.

而國內和全球的競爭都在升溫。

The country's online grocery market is set to be worth around $24 billion dollars by 2025.

到2025年，該國的在線食品雜貨市場價值將達到240億美元左右。

If you look at all the other major categories of e-commerce, electronics, apparel,

如果你看一下所有其他主要類別的電子商務，電子產品，服裝。

you take all of them and combine them, they're a fraction of the grocery market.

你把所有這些東西結合起來，它們只是雜貨店市場的一小部分。

And so, we see sort of that opportunity being, you know, too compelling to pass up.

是以，我們看到這種機會，你知道，太引人注目了，不能放棄。

So, what does Zepto need to do to set itself apart?

那麼，Zepto需要做什麼來使自己與眾不同？

A survey of European consumers found that user experience, fast delivery and reliability

一項針對歐洲消費者的調查發現，用戶體驗、快速交付和可靠性

were the top priorities for customers choosing an instant grocer.

是顧客選擇即時雜貨店的首要考慮因素。

Reliability comes in many ways.

可靠性有很多方式。

One is reliability in terms of, yes, it deliver on time, but also reliability in terms of if

一個是可靠性，是的，它按時交付，但也是可靠性，如果

I ordered 10 things, I get those 10 exact things.

我訂購了10件東西，我得到了這10件確切的東西。

And also, if I order fruits and vegetables, the highest quality possible.

還有，如果我訂購水果和蔬菜，也要儘可能選擇最高品質的。

So that's sort of where Zepto comes in.

是以，這也是澤普托出現的原因。

And it's taken this market by storm.

而且它在這個市場上掀起了風暴。

Zepto's popularity has investors excited too.

Zepto的受歡迎程度讓投資者也感到興奮。

As of May 2022, the company had attracted $360 million from investors, including Y Combinator,

截至2022年5月，該公司已經從投資者那裡吸引了3.6億美元，其中包括Y Combinator。

U.S. healthcare consortium Kaiser Permanente and Nexus Venture Partners.

美國醫療保健財團Kaiser Permanente和Nexus Venture Partners。

I think one of the key drivers of the investment success that we've had,

我認為我們的投資成功的關鍵驅動因素之一。

that has been very difficult to raise new equity capital from, is because unlike

因為與其他國家不同的是，我們很難從這些國家籌集到新的股權資本。

a lot of players in the space, we've actually put ourselves in a position where we've had

在這個空間裡有很多球員，我們實際上已經把自己放在一個位置上，我們已經有了

a lot of operating discipline, when we went to investors this time around,

當我們這次去找投資者時，有很多操作紀律。

we showed very, very clear paths to profitability.

我們展示了非常、非常清晰的盈利途徑。

We went from $0 in revenue roughly a year ago to today we're doing have hundreds of

我們從大約一年前的0美元收入到今天，我們正在做的有數百個

millions of dollars in annualized revenue.

年化收入達數百萬美元。

We're still talking in terms of multiples and not percentages when it comes to our

當涉及到我們的時候，我們仍然在用倍數而不是百分比來談論。

growth rate, and that's something that we're excited by.

增長速度，這是我們感到興奮的事情。

Even so, the days of easy money for cash-burning tech companies are gone

即便如此，燒錢的科技公司輕鬆賺錢的日子已經過去了

as interest rates rise and investors demand more results.

隨著利率上升和投資者要求更多的結果。

Zepto claims it has managed to reduce its cash burn rate by 5 times on a per-order basis,

Zepto聲稱它已經成功地將其現金燃燒率按每個訂單計算降低了5倍。

while making $200 to $400 million in annualized revenue.

同時，年化收入為2至4億美元。

How did you guys manage to keep your cash burn low?

你們是如何設法保持低的現金消耗的？

We're in a position where you look at the size of our balance sheet, we have effectively

我們的情況是，你看一下我們的資產負債表的規模，我們已經有效地

got capital to last us multiple years, in the context of this downturn,

在這種衰退的背景下，我們得到了持續多年的資本。

and we also have our overall sort of capital spent as a percentage of revenue,

我們也有我們整體的資本支出佔收入的百分比。

operating in a very healthy place, especially for a high growth consumer internet company.

在一個非常健康的地方營運，特別是對於一個高增長的消費互聯網公司。

Forcing ourselves to be efficient to make every dollar last.

強迫自己提高效率，使每一塊錢都能持續下去。

We're able to do more orders with the same amount of cash,

我們能夠用同樣數量的現金做更多的訂單。

we're able to acquire more customers with the same amount of cash.

我們能夠用同樣數量的現金獲得更多的客戶。

Q1 of 2022, we grew about 800 to 900%, Q2 is looking like roughly 300% or so.

2022年第一季度，我們增長了大約800%到900%，第二季度看起來大約是300%左右。

With that 300% growth, we were able to keep burn flat,

有了這300%的增長，我們能夠保持燃燒的平緩。

where in most companies, it would be growing exponentially along that growth, right?

在大多數公司中，它將沿著這種增長呈指數式增長，對嗎？

You're spending, at least 2x more in cash.

你的花費，至少是現金的2倍。

Zepto's name comes from zeptosecond, which is the smallest unit of time

Zepto的名字來自於zeptosecond，這是最小的時間組織、部門。

But as demand for fast deliveries grow in India, so does the pressure on drivers

但是，隨著印度對快速交付的需求增長，司機的壓力也在增加。

to complete orders as quick as they can, sometimes at the expense of their safety.

儘可能快地完成訂單，有時以犧牲自己的安全為代價。

In February this year, New York City legislators proposed a bill that would ban delivery companies

今年2月，紐約市立法者提出一項法案，禁止快遞公司

from promoting 15-minute delivery times.

從促進15分鐘的交付時間。

This was due to worker and pedestrian safety concerns.

這是由於工人和行人的安全問題。

There are similar concerns in India too as the instant commerce space becomes more popular.

在印度也有類似的擔憂，因為即時商務空間變得更加流行。

How are you guys managing fleet safety?

你們是如何管理車隊安全的？

A lot of people do misunderstand how we get fast deliveries done, right.

很多人確實誤解了我們是如何完成快速交付的，對吧。

The thought process that, okay, you get fast deliveries done because

思考的過程是，好吧，你能快速完成交付，因為

you're pushing your riders to drive rashly.

你在逼迫你的騎手貿然駕駛。

The reality is actually that our business model is designed to deliver the core value

現實情況是，實際上我們的商業模式是為了實現核心價值

proposition of 10-minute delivery through short distances, and not fast speeds.

提議通過短距離的10分鐘交付，而不是快速的速度。

We're seeing our average distance per delivery, between 1.7 to two kilometers per hour,

我們看到我們每次送貨的平均距離，在每小時1.7至2公里之間。

60 to 90 seconds goes in pack and dispatch, you got eight and a half minutes

60至90秒用於包裝和發送，你有8.5分鐘的時間。

to effectively travel 1.7 to two kilometers.

以有效行駛1.7至2公里。

That's what, 20/21 kilometers per hour, which is really well within, even what the average

那是什麼，每小時20/21公里，這真的是很好的，甚至是平均的

Indian biker would comfortably be 25, 27 kilometers per hour.

印度自行車手會很舒服地以每小時25、27公里的速度前進。

According to Zepto, there are no penalties for delayed deliveries,

據Zepto稱，延遲交貨不會有任何處罰。

nor are there any incentives for early deliveries.

也沒有對提前交貨的任何獎勵。

We've got medical insurance, free doctor consultations, family health care,

我們有醫療保險，免費的醫生諮詢，家庭健康護理。

along with other benefits that sound basic to you and I but are actually luxuries for them.

還有其他對你我來說聽起來很基本，但實際上對他們來說是奢侈品的福利。

The fresh funding that Zepto has in the bag may seem like a luxury too.

澤普託收入囊中的新鮮資金可能看起來也是一種奢侈。

But Aadit and Kaivalya are determined to grow their company sustainably,

但Aadit和Kaivalya決心可持續地發展他們的公司。

while eyeing expansion into other cities in India.

同時著眼於向印度其他城市的擴張。

We're hoping I guess, over the next couple of quarters that we can touch the billion

我們希望，我猜，在接下來的幾個季度，我們可以觸摸到10億的資金

mark when it comes to annualized gross revenue.

當涉及到年化總收入的時候，這是個大問題。

Currently the thing that we're trying to maintain, basically spending less month on month.

目前，我們正在努力維持的事情，基本上是逐月減少開支。

I think we're blessed with a business that's growing rapidly.

我認為我們有福了，我們的業務正在迅速增長。

This came out as a personal project between Kaivalya and I to see if we could solve

這是我和Kaivalya之間的一個個人項目，看看我們是否能夠解決

a problem at a small scale in our neighborhood and eventually evolved into the company

在我們附近的一個小規模的問題，並最終發展成為一個公司。

that we are today in which we're incredibly grateful for.

我們今天所處的位置，我們對它感到非常感激。