NEW DELHI, July 13
Quick commerce unicorn Zepto has announced the promotion of Devendra Meel to chief business officer (CBO), effective immediately. This move comes on the heels of the company’s recent $665-million funding round, which valued the startup at $3.6 billion.
Meel, who previously served as senior vice president of strategy and head of Zepto Pass, the company’s membership programme, will now lead category management and brand partnerships. His responsibilities will include optimising assortment, pricing, availability, and growth across all core categories on the Zepto platform.
Aadit Palicha, co-founder and CEO of Zepto, praised Meel’s contributions, stating, “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 5M+ subscribers today.”
Meel, an IIM-Bangalore graduate with an over 11 years of cross-functional experience, expressed his commitment to the new role, saying, “Having a front-row seat in a company poised to redefine Internet India is the opportunity of a lifetime. I am deeply committed to this mission and will bring all my energy and dedication to it.”
Looking ahead, Zepto is eyeing a public listing in 2026 and plans to shift its base to India. The company aims to focus on expanding its presence in the top 40 cities in the country, with no plans to expand beyond these markets for at least five years.
While Zepto’s financial statement for FY24 is yet to be filed, its FY23 results showed an impressive growth.
The company’s operating revenue surged 14.3 times year-on-year to Rs 2,024.3 crore, albeit with a net loss of Rs 1,272.4 crore for the same period.
