Zepto Elevates Devendra Meel to Boss Business Official

Quick commerce leader Zepto has announced the internal promotion of Devendra Meel to Chief Business Officer (CBO), effective July 2024. In his new role, Meel will be responsible for overseeing category management and fostering stronger brand partnerships, playing a pivotal role in Zepto’s continued growth.

Building on a Strong Foundation

Meel brings a wealth of experience to the CBO position. Prior to joining Zepto a year ago, he led special initiatives at prominent Indian companies like Zomato and Reliance Jio. At Zepto, Meel has already made significant contributions.

“Devendra’s performance at Zepto has been nothing short of remarkable,” said Aadit Palicha, co-founder and CEO of Zepto, in a press release. “He has not only played a key role in scaling our advertising business to generate significant revenue, but also spearheaded the development and launch of Zepto Pass, which has garnered over 5 million subscribers to date.” Meel’s promotion to CBO highlights Zepto’s commitment to cultivating talent within the organization and empowering individuals who have demonstrably contributed to the company’s success.

Zepto’s Impressive Growth Trajectory

Zepto has established itself as a major player in the quick commerce space, catering to millions of customers across India. Their extensive network of delivery hubs allows them to deliver a vast selection of over 10,000 products across various categories, all within a rapid 10-minute timeframe.

The company boasts impressive growth metrics. Zepto claims to have achieved near EBITDA positivity, with a staggering 140% year-on-year growth and an annualized gross merchandise value exceeding $1 billion. As of May 2024, they report that approximately 75% of their partnered stores have achieved individual EBITDA positivity.

Financial Strength and Future Expansion

Zepto as of late gotten a critical financing round of $665 million, hardening their situation in the market with a valuation of $3.6 billion. Media reports recommend that the organization might be wanting to bring extra outer capital up soon. Zepto faces contest from other very much financed players like BlinkIt and Swiggy Instamart. Meel’s arrangement as CBO positions Zepto to decisively explore the cutthroat scene and further cement their position of authority in the quickly developing speedy trade area.