10-min grocery delivery unicorn Zepto promotes Devendra Meel to CBO role

Mumbai-based 10-minute grocery delivery unicorn Zepto has elevated Devendra Meel to the role of Chief Business Officer (CBO), effective July 2024.

In his new role, Meel will spearhead category management and strengthen brand partnerships. He will oversee the assortment, pricing, availability, and growth of all core categories on the platform.

What is Devendra Meel's background?

Before joining Zepto, Meel led special initiatives at Zomato and Reliance Jio. He is an IIM-Bangalore graduate with a notable track record in strategic roles.

He joined Zepto in July last year and has since played a key role in scaling the company's advertising business to hundreds of crores in revenue. 

Additionally, he was instrumental in building Zepto Pass from an idea to over 5 million subscribers.

Leadership comments

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."

"Devendra has executed like an entrepreneur and treated Pass like his baby, working tirelessly 6-7 days a week with the Pass team to make the economics sustainable, and brought the whole company together to get Pass launched in record time," Palicha added.

What did Meel say about his new role?

“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. Zepto’s meritocratic, fast-moving environment offers high-stakes challenges and the potential for 10X career growth.” “For those excited by such prospects, our business team is actively hiring across various roles,” Meel added.

Zepto's recent funding round

The development comes after Zepto raised $665 million at a valuation of $3.6 billion, with investors including Glade Brook Capital, StepStone Group, Nexus Venture Partners, Goodwater Capital, and Lachy Groom.

The startup has achieved near EBITDA positivity with 140% year-on-year growth and an annualized gross merchandise value of over $1 billion. 

It claims that about 75% of its stores were fully EBITDA positive as of May 2024.