Devendra Meel promoted to CBO position at Grocery Delivery App Zepto

Zepto, a quick commerce company, has declared the elevation of Devendra Meel to the role of Chief Business Officer (CBO), starting in July 2024. Devendra’s new role will see him leading category management and bolstering brand partnerships, according to the company.

Before joining Zepto, Devendra Meel led special initiatives at both Zomato and Reliance Jio. His time at Zepto has been filled with remarkable accomplishments. “Devendra has had an exceptional journey at Zepto. Since joining us a year ago, he has been instrumental in expanding our advertising business to generate hundreds of crores in revenue and, more significantly, developed Zepto Pass from a concept to a service with over 5 million subscribers today,” stated Aadit Palicha, co-founder and CEO of Zepto, in a press release.

Devendra’s promotion to CBO highlights Zepto’s commitment to nurturing and promoting talent from within the organization. Zepto caters to millions of customers, offering over 10,000 products across various categories, all delivered within 10 minutes through a network of delivery hubs nationwide. The company claims to have achieved near EBITDA positivity, boasting a 140% year-on-year growth rate and an annualized gross merchandise value (GMV) exceeding $1 billion. As of May 2024, about 75% of Zepto’s stores are fully EBITDA positive.

The Mumbai-based firm recently raised $665 million, reaching a valuation of $3.6 billion. According to media reports, Zepto may seek additional external capital soon. The company operates in a competitive market, facing off against other well-funded players such as BlinkIt and Swiggy Instamart.

Zepto’s growth and success are attributed to its innovative business model and efficient delivery network. By delivering products within 10 minutes, Zepto has revolutionized the quick commerce sector, setting new standards for convenience and speed. The company’s focus on internal talent development, as exemplified by Devendra Meel’s promotion, underscores its commitment to maintaining a dynamic and motivated workforce.

With Devendra Meel at the helm as Chief Business Officer, Zepto is poised to continue its impressive growth trajectory, further enhancing its market presence and strengthening its brand partnerships. The company’s strategic moves and financial achievements indicate a robust future, positioning Zepto as a formidable player in the quick commerce industry.