Zepto promotes Devendra Meel to CBO

Quick commerce company Zepto has announced the elevation of Devendra Meel to the Chief Business Officer, effective July 2024. According to the company, Devendra will spearhead category management and strengthen brand partnerships.

Prior to Zepto, Devendra Meel led special initiatives at Zomato and Reliance Jio.

“Devendra has had an incredible run at Zepto. After joining us a year ago, he played a key role in scaling our advertising business to hundreds of crores in revenue and, more importantly, built out Zepto Pass end-to-end: from an idea to over 5M subscribers today,” said Aadit Palicha, co-founder & CEO of Zepto, in a press statement.

Devendra Meel’s elevation to CBO underscores Zepto’s commitment to raise internal talent pool.

Zepto caters millions of customers by delivering over 10,000 products, ranging across categories in 10 minutes through a network of delivery hubs across the country. 

Zepto claims that it has achieved near EBITDA positivity with 140% year-on-year growth with an annualised gross merchandise value of over $1 billion. It also claims to have about 75% of its stores fully EBITDA positive as of May 2024.

The Mumbai-based firm recently raised $665 million at a valuation of $3.6 billion. As per media reports, the firm may raise more external capital soon. Zepto competes with other two deep-pocketed players, BlinkIt and Swiggy Instamart.